Risk and insur - Study guides, Class notes & Summaries

AIDA 182 Risk and Insurance Analysis Techniques Exam Prep| Questions and Verified Answers| 100% Correct (Latest 2023/ 2024 Update) Q: exposure Answer: Any condition that presents a possibility of gain or loss, whether or not an actual loss occurs; provides a measure of the maximum potential damage associated with an occurrence Q: volatility Answer: Frequent fluctuations, such as in the price of an asset; provides a basic measure that can be applied to risk outcomes Q...

big data - Answer-Sets of data that are too large to be gathered and analyzed by traditional methods. law of large numbers - Answer-A mathematical principle stating that as the number of similar but independent exposure units increases, the relative accuracy of predictions about future outcomes (losses) also increases. data mining - Answer-The analysis of large amounts of data to find new relationships and patterns that will assist in developing business solutions. text mining - Answer-Obt...

AIDA 182 Risk and Insurance Analysis Techniques Exam Prep| Questions and Verified Answers| 100% Correct (New 2023/ 2024 Update) QUESTION coefficient of variation Answer: measures variation from a mean by dividing the standard deviation of a distribution by its mean; used to compare results from two different sets of data to learn which one has more variation QUESTION normal distribution Answer: a probability distribution that helps forecast volatility around a ...

LOMA 281 Module 1 Lesson 1 - Risk and Insurance Exam

AIDA 181 Big Data Analytics for Risk and Insurance Exam Prep| Questions and Verified Answers| 100% Correct (New 2023/ 2024 Update) QUESTION metadata Answer: data about the data that provides context for analyzing transaction facts with efficient structures for grouping hierarchical information QUESTION what type of data helps prevent data quality issues? Answer: metadata QUESTION what are some data mining techniques Answer: classification ...

AIDA 182 (New 2023/ 2024 Update) Risk and Insurance Analysis Techniques Exam | Questions and Verified Answers| 100% Correct| Graded A QUESTION What is the progress of a key performance indicator? Answer: A measure of the progress an organization has made toward attaining its goals within a specific amount of time. QUESTION What answers the question, what shows we are a success and working towards goals, financial or nonfinancial? Answer: A key performance indi...

AIDA 181 (New 2023/ 2024 Update) Big Data Analytics for Risk and Insurance Exam | Questions and Verified Answers| 100% Correct| Graded A QUESTION Often, machine learning Select one: A. Reveals relationship and trends not found through traditional ratemaking analysis. B. Is not appropriate for smaller insurers, which do not have access to large amounts of data. C. Implements a flat rate increase for all of an insurer's homeowners policies. D. Is simply a ratio that measures loss ...

LOMA 281 Module 1 Lesson 1 - Risk and Insurance Questions And Answers Latest |Update| Verified Answers

IF1 - C1 - Risk and insurance - the natures of risk correctly answered

AIDA 182 Risk and Insurance Analysis Techniques Latest Update Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor