SOA Exam P Sample Question 486
Study guide: Exam P-1
A study of fire damage claims is conducted. Claim amounts are mutually independent and each claim amount exceeds 1000 with probability 0.20.
Calculate the probability that at least one of three randomly selected claim amounts exceeds 1000.
- A)
0.472 - B)
0.488 - C)
0.512 - D)
0.528 - E)
0.600
Answer this question and see the worked solution