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CPCU 500 Chp. 6 Questions And Answers With Verified Solutions Rated A+
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CPCU 500 Chp. 6 Questions And Answers With Verified Solutions Rated A+

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  • August 14, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • cpcu 500 chp 6 questions and answers with verifie
  • pooling arrangements function best when the loss
  • as members in a pool increase std deviation on
  • measures the uncertainty around the expected value

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  • CPCU
  • CPCU

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CPCU 500 Chp. 6 Questions And
Answers With Verified Solutions Rated
A+
uncorrelated - ANSWER✔✔ Pooling arrangements function best when the loss
exposures being pooled are _____ with one another (correlated/uncorrelated)


decreases - ANSWER✔✔ As members in a pool increase, std. deviation on a per
member basis (increases/decreases)


standard deviation - ANSWER✔✔ measures the uncertainty around the expected
value


decreases - ANSWER✔✔ By pooling, the expected value remains the same, but
the uncertainty around that expected value (increases/decreases


consistent, variable - ANSWER✔✔ Pooling does not change either person's
expected cost, but it makes the actual cost more ______ and less ____, therefore
reducing risk


sharing, transfer - ANSWER✔✔ Pooling is a risk ______ mechanism, while
insurance is a risk ___ mechanism


initial capital from investors and retained earnings - ANSWER✔✔ two sources of
financial resources that enable insurance companies to stronger guarantee the
sufficient funds will be available in the event of a loss

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