The Basic Causes of Loss Form Is a Named-Perils Option

question 71

Multiple Choice

The basic causes of loss form is a named-perils option of the commercial property policy that covers _____ named perils.

• A)eight
• B)eleven
• C)fifteen
• D)eighteen
• E)twenty

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Definitions:

Event B

A term used in probability theory to denote a specific outcome or set of outcomes from a stochastic experiment.

0 ≤ P ≤ 1

A mathematical expression indicating that the value of P (probability) ranges from 0 to 1, inclusive.

Outcome

An outcome is the result or consequence of an action, experiment, or event, often used in the context of probabilities and statistical experiments.

Classical Approach

A methodological approach in statistics that relies on theoretical probability distributions and assumptions for hypothesis testing and estimation.