A(n) ________ Is a Clause in an Insurance Policy That

question 19

Multiple Choice

A(n) ________ is a clause in an insurance policy that provides that insurance proceeds are payable only after the insured has paid a specified amount toward the damage or loss.

• A) incontestability clause
• B) coinsurance clause
• C) exclusions from coverage clause
• D) deductible clause

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Definitions:

Unbiased Estimator

A statistical estimator whose expected value equals the true value of the parameter it estimates.

Sample Mean

The arithmetic average of a set of sample values, used as an estimate of the population mean.

Population Mean

The average value of a characteristic in the entire population of interest.

Unbiased Estimator

A statistic used to estimate a population parameter that is expected to be equal to the true parameter value on average.