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Foundations of Casualty Actuarial Science
October, 2011
Multiple choice :
(All multiple choice questions carry 2 marks each)
1. The costs under the different probable scenarios are
as follows :
No Contingency Contingency
Insurance Rupees 357/- Rupees 357/-
No Insurance Rupees 0/- Rupees 9,87,654/-
What is the expected cost if insurance is purchased to
cover the contingency?
A. Rupees 357/-
B. Rupees 0/-
C. Rupees 9,87,654/-
D. Rupees 9,87,654/-
Ans. A
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