Law of averages - Study guides, Class notes & Summaries
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Insurance – NGPF Exam Questions with Complete Correct Answers | Grade A+
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Risk 
Ans: A situation involving exposure to danger, harm, or loss. 
Insurance 
Ans: A means of guaranteeing protection or safety. 
Risk Pooling 
Ans: The spreading of financial risk evenly among a large number of contributors to the 
program. 
Insurance Policy 
Ans: A contract in which an individual or entity receives financial protection or 
reimbursement against losses. 
Premium 
Ans: The specified amount of payment required periodically by an insurer to provide 
coverage under a given ins...
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WEBCE PROPERTY & CASUALTY PREPARATION EXAM
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Insurance is largely based on statistics, probabilities, and averages 
Law of Large Numbers 
Risk Transfer 
Adverse Selection 
Peril 
1 of 36 
Definition 
Process to determine a risk and at what rate 
Risk Control 
Underwriting 
Adverse Selection 
Exposure 
2 of 36 
Definition 
1. Covered loss must be defined by time, cause, and location 
2. Value of item being insured must be measurable 
3. Insured event must be accidental or outside insured's control (loss due to chance) 
What is Direct and I...
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C120 Test No. 3 (Covers Studies 7, 8, and 9.) Questions and Answers 100% Pass
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C120 Test No. 3 (Covers Studies 7, 8, 
and 9.) Questions and Answers 100% 
 
Pass 
 
List and explain the elements of a premium dollar that must be taken into account when pricing 
any type of insurance. A dollar of insurance premium includes not only the pure premium 
required to pay claims but also allowances for a variety of factors and expenses, including 
development factors, trend factors, acquisition costs, and administrative expenses, along with 
profit. 
 
Development factors are adjust...
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McMaster Bio 1M03: Exam 2024/2025 Questions with all the correct Answers (Real Actual Exam).
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McMaster Bio 1M03: Exam 2024/2025 Questions with all the correct Answers (Real Actual Exam). 
Why might Pasteur's experiment be inconclusive? - ANS - The swan-necked flask 
broth may not support cell growth, or the broth was poisoned. Experiment did not 
confirm hypothesis that all cells come from pre-existing cells 
Why are replicates important in experiments? - ANS - To ensure that results were 
not achieved by random chance 
What is the definition of a replicate? - ANS - Unit that shares a c...
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OSHA 511 GENERAL INDUSTRY EXAM / QUESTIONS AND CORRECT ANSWERS 20224/2025 GRADED A+.
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OSHA 511 GENERAL INDUSTRY 
EXAM / QUESTIONS AND 
CORRECT ANSWERS 20224/2025 
GRADED A+. 
2 / 6 
1. What is OSHA's Mission?: To protect the health & safety of American workers 
2. What can be a results of a workplace injury or illness?: lower morale andincreased cost 
3. Horizontal Standard: A standard which is applied to everyone, acrossthe board;applies to all 
industries 
4. Section 11 c of the OSH Act: The right of workers to seek safety and health onthe job without fear 
of punishment 
5. I...
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A & P 2 Straighterline Final Exam 2024
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A & P 2 Straighterline Final Exam 2024 
When erythrocytes are destroyed, which of the following events occurs? -Answer-The 
globin portion of the molecule is broken down into amino acids. 
Type AB blood -Answer-has both A and B antigens on the red cells 
In the platelet release reaction, -Answer-ADP and thromboxanes stimulate other 
platelets to become activated. 
The hematocrit is -Answer-d. the percentage of RBCs in a given volume of blood. 
What vitamin is necessary to produce many clotting f...
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C11 Principles & Practice - CH03 - Ratemaking, Underwriting, and Rating Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A
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What is RATEMAKING? 
: - Process of establishing rates for each class of insurance. 
- Determining the cost of a specified unit of insurance for a given period of time. 
*(MNQ) What is RATE (unit cost)? 
: - The price of a unit of insurance for a period of one year. 
- Expressed in dollars and cents or as a percentage. 
*(MNQ) What is PREMIUM? 
: - Total cost of an insurance policy. 
- Calculated by multiplying the rate times the amount or term of insurance purchased. 
What is difference between...
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C11 Principles & Practice - CH03 - Ratemaking, Underwriting, and Rating Exam Questions With 100% Verified Answers
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C11 Principles & Practice - CH03 - 
Ratemaking, Underwriting, and Rating 
Exam Questions With 100% Verified 
Answers 
What is RATEMAKING? - answer- Process of establishing rates for each class of insurance. 
- Determining the cost of a specified unit of insurance for a given period of time. 
*(MNQ) What is RATE (unit cost)? - answer- The price of a unit of insurance for a period of 
one year. 
- Expressed in dollars and cents or as a percentage. 
*(MNQ) What is PREMIUM? - answer- Total cost of a...
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McMaster Bio 1M03: Exam 2024/2025 Questions with all the correct Answers (Real Actual Exam).
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McMaster Bio 1M03: Exam 2024/2025 Questions with all the correct Answers (Real Actual Exam). 
Why might Pasteur's experiment be inconclusive? - ANS - The swan-necked flask 
broth may not support cell growth, or the broth was poisoned. Experiment did not 
confirm hypothesis that all cells come from pre-existing cells 
Why are replicates important in experiments? - ANS - To ensure that results were 
not achieved by random chance 
What is the definition of a replicate? - ANS - Unit that shares a c...
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Michigan Builders License Exam Questions With Correct Answers Latest Update 2024/2025 | 100% SOLVED
- Exam (elaborations) • 59 pages • 2024
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Michigan Builders License Exam Questions With Correct Answers Latest Update 2024/2025 | 100% SOLVED. Created to serve as a complete, comprehensive code regulating the construction of 
single-family, two-family and buildings consisting of three or more townhouse units. - 
Correct Answer-IRC (International Residential Code) 
Administrative - Correct Answer-First 2 chapters of code book are 
True - Correct Answer-Plans or supporting documents are almost always required by 
the controlling authority...
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