TABLE 8-3 to Become an Actuary, It Is Necessary to Pass a Pass

question 53

True/False

TABLE 8-3
To become an actuary, it is necessary to pass a series of 10 exams, including the most important one, an exam in probability and statistics. An insurance company wants to estimate the mean score on this exam for actuarial students who have enrolled in a special study program. They take a sample of 8 actuarial students in this program and determine that their scores are: 2, 5, 8, 8, 7, 6, 5, and 7. This sample will be used to calculate a 90% confidence interval for the mean score for actuarial students in the special study program.
-Referring to Table 8-3, for the confidence interval to be valid, it is necessary that test scores of students in the special study program on the actuarial exam be normally distributed.

Grasp how ADR can impact ongoing or future business relationships and its role in dispute resolution in commercial contexts.

Comprehend the ethical considerations and qualifications necessary for mediators and arbitrators in the ADR process.

Understand the legal standards and grounds under which arbitration awards can be challenged and set aside by courts.

Determine how to effectively draft and incorporate arbitration clauses within contracts to ensure enforceability and clarity.

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Definitions:

Debits And Credits

The two facets of accounting entries; debits increase assets or decrease liabilities, while credits decrease assets or increase liabilities.

Subsidiary Ledgers

Detailed ledgers that contain information captured in the general ledger, broken down into specific categories like customers, suppliers, or assets.

Owner's Capital

The amount of money and other assets contributed by the owner(s) to a business, plus the retained earnings minus any withdrawals.

Accounts Receivable

Amounts owed to a business by its customers for goods or services sold on credit.