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Exam IIA-CFSA topic 3 question 9 discussion

Actual exam question from IIA's IIA-CFSA
Question #: 9
Topic #: 3
[All IIA-CFSA Questions]

Insurance companies assist individuals in managing personal risk through risk pooling. Risk pooling is based on fact that the probability of any one type of loss occurring for a given individual is small. Therefore insurers can insure:

  • A. A large number of people against a given peril, based on the knowledge that only a small percentage of those insured will ever file a claim for the particular peril
  • B. Only few people against a given peril, based on the knowledge that only a small percentage of those insured will ever file a claim for the particular peril
  • C. A large number of people against a given peril, based on the knowledge that a large percentage of those insured will ever file a claim for the particular peril
  • D. None of these
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Suggested Answer: A 🗳️
by lolojepu at April 5, 2025, 8:29 p.m.

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