Question: Loss frequency is defined as the 1. probability that a liability judgment may exceed a firm's net worth. 2. probable number of losses that may

Loss frequency is defined as the

1.

probability that a liability judgment may exceed a firm's net worth.
2.

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

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

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

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