SOA Exam P Sample Question 540
Study guide: Exam P-1
An insurance company pays a benefit for a duration of one year, two years, or five years, depending upon the severity of the claim. Information about the distribution of claims in the past year by sex and duration of benefit is given in the following table:
| 1 year | 2 years | 5 years | |
|---|---|---|---|
| Male | 20% | 40% | 40% |
| Female | 10% | 70% | 20% |
Males accounted for 60% of all claims.
Calculate the probability that a claimant was female, given that this claimant received a five-year benefit.
- A)
1/5 - B)
1/4 - C)
1/3 - D)
1/2 - E)
3/4
Answer this question and see the worked solution