SOA Exam P Sample Question 300
Study guide: Exam P-1
A group of insurance policies have all been in force for at least three years. The insurance company plans to pay a dividend on each policy in the group that had no more than one claim incurred on it in the past three years. The number of claims incurred on a policy in any year follows a Poisson distribution with mean 0.288 and the number incurred in any year is independent of the number incurred in any other year.
Calculate the probability that a policy chosen at random from the group will receive a dividend.
- A) 0.01
- B) 0.36
- C) 0.42
- D) 0.54
- E) 0.79
Answer this question and see the worked solution