Which Rule of Probability States That for Two Mutually Exclusive

question 17

Multiple Choice

Which rule of probability states that for two mutually exclusive events the probability of each event occurring is equal to the product of their separate probabilities?

• A) bounding rule of probabilities
• B) restricted addition rule of probabilities
• C) general addition rule of probabilities
• D) restricted multiplication rule of probabilities

Recognize the implications of contractual elements in insurance, such as warranties, representations, and the requirement for insurable interest.

Distinguish between the types of damages and remedies available in insurance contract disputes, including punitive damages and policy limits.

Identify the conditions under which an insurance contract can be voided or reformed and recognize the parties’ rights and obligations in such scenarios.

Comprehend the role of considerations in forming an insurance contract and the implications of an insurer’s future coverage promise.

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Definitions:

Burning Smell

A symptom that there is something wrong with the power supply.

BYOD

Bring Your Own Device, a policy that allows employees to use their personal devices for work purposes, raising considerations for security and network access.

Wireless Antenna

A device used to transmit or receive radio waves for the purpose of wireless communication and data exchange.

Laptop

A portable personal computer with a screen and alphanumeric keyboard, designed for mobile use.