Exam (elaborations)
RMIN 4000 Final Exam Review Part 1(Material from Ch 1-8) with Complete Solutions!!
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frequency - ANSWER-- how often does a loss occur? - the number of losses (such as fire, theft, collision) that occur within a specified time period. - probability of a loss ex) probability of a fire is 0.0071 per loss exposure per year severity - ANSWER-- how much does it cost when a loss ...
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