AASB 1023 General Insurance Contracts States That the Pattern of the Incidence

question 71

Multiple Choice

AASB 1023 General Insurance Contracts states that the pattern of the incidence of risk for many direct insurance contracts will be:

• A) straight-line basis over the duration of the insurance contract.
• B) consistent with the business cycle.
• C) driven by economic forces.
• D) reduced over the life of the contract.

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Definitions:

Higher-Order Conditioning

The phenomenon that a stimulus (CS2) can elicit a conditioned response (CR) even without being paired with the unconditioned stimulus (UCS) if the CS2 is paired with a conditioned stimulus (CS1).

Counterconditioning

The elimination of a conditioned response when the conditioned stimulus is paired with an opponent or antagonistic unconditioned stimulus

Stimulus Substitution

A theory in classical conditioning suggesting that a conditioned stimulus acts as a substitute for an unconditioned stimulus, eliciting a similar response.

Basolateral Amygdala

A region of the amygdala involved in processing emotional responses, memory, and decision-making, crucial for fear conditioning and associative learning.