SOA Exam P Sample Question 188
Study guide: Exam P-1
A company sells two types of life insurance policies (P and Q) and one type of health insurance policy. A survey of potential customers revealed the following:
- i) No survey participant wanted to purchase both life policies.
- ii) Twice as many survey participants wanted to purchase life policy P as life policy Q.
- iii) 45% of survey participants wanted to purchase the health policy.
- iv) 18% of survey participants wanted to purchase only the health policy.
- v) The event that a survey participant wanted to purchase the health policy was independent of the event that a survey participant wanted to purchase a life policy.
Calculate the probability that a randomly selected survey participant wanted to purchase exactly one policy.
- A) 0.51
- B) 0.60
- C) 0.69
- D) 0.73
- E) 0.78
Answer this question and see the worked solution