IC-38 Corporate Agent SP Practice Questions - IC-38 Corporate Agent Specified Person Exam (IRDAI III) Exam

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Under the law of large numbers, what happens as the number of similar, independent exposure units in an insurance pool increases?

Actual loss experience becomes harder to predict Actual loss ratios become more predictable and closer to expected values Premiums must always fall to zero Moral hazard disappears completely

Correct Answer:

Actual loss ratios become more predictable and closer to expected values

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