Question: In an imaginary world where you are an insurance adjuster someone stops to ask you to define a loss frequency. You would respond with: 1.

In an imaginary world where you are an insurance adjuster someone stops to ask you to define a loss frequency. You would respond with:

1.

probable size of the losses that may occur during some period.
2.

probable number of losses that may occur during some period.
3.

probability that any particular piece of property may be totally destroyed.
4.

probability that a liability judgment may exceed a firm's net worth

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