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Section 1.3 Quiz

1
Section 1.3 Review

The ______________ is the basic principle of insurance that the larger the number of individual risks combined into a group, the more certainty there is in predicting the degree or amount of loss that will be incurred in any given period.

a)
b)
c)
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2

concerns the number of deaths that occur at a specific time, in a specific group, or from a specific cause. concerns the presence of illness or disease.


Word bank: Morbidity, Mortality

Mortality concerns the number of deaths that occur at a specific time, in a specific group, or from a specific cause. Morbidity concerns the presence of illness or disease.

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3

Risk pooling is also known as loss sharing.

a)
b)
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