The Finite Population Correction Factor, ,Should Generally Be Used

question 13

Multiple Choice

The finite population correction factor, ,should generally be used when:

• A)N is any finite size
• B)n is less than 5% of the population size N
• C)n is greater than 5% of the population size N
• D)n is any finite size

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Definitions:

Subrogation

is a legal doctrine allowing one party (usually an insurer) to step into the shoes of another party to pursue rights or claims against a third party, often to recover amounts paid out in a claim.

Surety

A form of financial guarantee, wherein one party (the surety) agrees to take on the financial obligations of another if they default.

Reimbursement

The act of compensating someone for an expense incurred, often associated with business expenses or insurance claims.

Real Defense

A legitimate legal defense that can be used to void a contract or document, typically in cases of fraud or invalidity.