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Explain what is meant when we say "data Vary". How does this variability affect the results of statistical analysis?
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What is the intersection ofthe assessed probability and severity of a hazard called in the crm process?
It is risk assessment.It is risk assessment.It is risk assessment.It is risk assessment.
What is residual risk mean in composite risk management process?
Risk that remains after response to ridentified risk is planned/selected
Distingush between systematic and unsystematic risks which is often regarded as the only relevant risk and why?
It is the risk which is due to the factors which are beyond the control of the people working in the market and that's why risk free rate of return in used to just compensate this type of risk in market. This is the risk other than systematic risk and which is due to the factors which are controllable by the people working in market and market risk premium is used to compensate this type of risk. Total Risk = Systematic risk + Unsystematic Risk As systematic risk is beyond the control of people working in market that;s why it is defenately not the relevent risk because anything not controllable is irrelevant and that's why unsystematic risk is the relevant risk because it is in the control of investor to in which security to invest or not.
What factors determine the risk level in the Risk Assessment Matrix?
Probability and Severity are the two factors determine the risk level in the Risk Assessment Matrix.
What is the explanation for the concept of risk pooling?
What is the basis for the concept of risk pooling? The basis for the concept of risk pooling is to share or reduce risks that no single member could absorb on their own. Hence, risk pooling reduces a person or fim's exposure to financial loss by spreading the risk among many members or companies. Actuarial concepts used in risk pooling include: A. statistical variation.B. the law of averages.C. the law of large numbers.D. the laws of probability.
What is the basic concept of risk pooling?
The basic concept of risk pooling is to ascertain the mortality rate,financial background, literary parameter of the insured while issuing life policy to a person.
Questions and answers on ic-33 new syllabus?
pooling of risk
Difference between pooling of risk in shortterm and longterm insurance?
terms period
How does life insurance differ from other types of insurance?
Life insurance is not based on risk pooling.
What is pooling of risks?
what is pooling of risks? This is when a premium is payed by a number of people facing a similar risk into a pool of compensation in the case of any unknown expense. eg repair of a damaged store or even replacement.
What is pooling risks?
what is pooling of risks? This is when a premium is payed by a number of people facing a similar risk into a pool of compensation in the case of any unknown expense. eg repair of a damaged store or even replacement.
How do you explain what is meant by a complex system?
Explain what is meant by a complex system
Explain what is meant by feedback in terms of acquiring skill?
Explain what is meant by feedback
What are the basic principles of life insurance?
There are, in fact, a wide variety of "basic" principles of life insurance. Some of these principles include risk management, risk pooling, and human life value.
What is pooling of risk with reference to re-insurance and short-term insurance?
this refers to the payment of premiums into a fund or pool to pay for the losses that occur
What is meant by the term dementia?
Explain what is meant by the term 'dementia.'
