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California Life Accident And Health Insurance State Exam Questions And Answers

Question Number 11


✔ Correct Answer:
BACCORDING TO THE LAW OF LARGE NUMBERS
IN INSURANCE, WHEN THE NUMBER OF SIMILAR UNITS INCREASE, THE PREDICTABILITY OF THE LOSS IMPROVES:ABECAUSE OF THE SIMILARITY OF UNITS IN LARGE QUANTITIESBACCORDING TO THE LAW OF LARGE NUMBERSCBECAUSE OF ACCUMULATED EXPERIENCEDACCORDING TO THE LAW OF AVERAGES