SOA Exam P Sample Question 323
Study guide: Exam P-1
A broker markets four separate products. The probabilities of selling these products to a client follow:
| Product | Probability |
|---|---|
| Auto insurance | 0.45 |
| Homeowners insurance | 0.55 |
| Health insurance | 0.60 |
| Life insurance | 0.60 |
The sales of these products are mutually independent.
Calculate the probability that the broker sells more than two products to a client.
- A) 0.24
- B) 0.30
- C) 0.39
- D) 0.61
- E) 0.76
Answer this question and see the worked solution