Multiple Choice
Which of the following is not a characteristic of a Probability Distribution?
A) The probability of occurrence of a variable is assigned randomly.
B) The maximum probability for any one outcome will be less than 1.
C) The minimum probability for any one outcome will be greater than 0.
D) The sum of all probabilities must be equal to 1.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: One reason insurable losses must be definite
Q24: Which of the following would be most
Q25: Why would "groom decides he doesn't want
Q26: The confidence interval:<br>A) decreases with a larger
Q27: What is the so-called Risk Charge?<br>A) Risk
Q29: Risk Pooling is the ability to reduce
Q30: If the Average Loss Severity is $1,150
Q31: When a probability distribution of a variable
Q32: A risk pool needs a small group
Q33: Which of the following statements about the