When as event is stated to be possible, it has a probability between

Related MCQs

• If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value
• Event of high frequency and low severity fall in the self-retention category
• Insurance covers the risk of the most certain event -
• Insurance eliminates or decreases the uncertainty associated with occurrence of an event
• __________ Insurance is a contract to provide a measure of financial support to farmers in the event of a crop failure due to drought or flood.
• An unlooked mishap or an untoward event which is not expected or designed
• Which of the statements is correct? A. The simplest way to deal with a risk is to avoid it. B. This technique is always possible and practical.
• The ________ is the party who agrees to compensate the other person against possible losses.
• The cause of a possible loss, such as fire windstorm theft etc. is known as ___________
• Which of the following is the similarity between insurance and gambling: