please answer those multiple choice questions

1. What does frequency measure?

Group of answer choices

Frequency measures how large losses will be

Frequency measures both the peril and the hazard

Frequency measures how often losses occur

Frequency measures both how often losses occur and how large they will be

3. Akim has a music store. His insurance broker tells him the cost of his general liability insurance will be $24 per $1,000 of gross receipts. Akim expects his total annual receipts for the upcoming year will be $150,000, so he estimates he will pay $3,600 a year for his general liability. What is the correct term for the $24?

Group of answer choices

Rate

Units

Peril

Premium

4. Which statement about an insurance company's investmentsistrue?

Group of answer choices

Insurers can generate investment income on the funds they hold as balance sheet liabilities

None of these answers are correct.

Investment income guarantees an insurer will be profitable

Stock insurers can make more investment income than mutual insurers

5. Which statement about an insurance company's investmentsistrue?

Group of answer choices

Insurers can generate investment income on the funds they hold as balance sheet liabilities

None of these answers are correct.

Investment income guarantees an insurer will be profitable

Stock insurers can make more investment income than mutual insurers

7. The law of large numbers says that:

Group of answer choices

With a very large number of data points, actual losses will closely approximate expected losses.

With a very large number of data points, the median will increase.

With a very large number of data points, the standard deviation will decrease.

With a very large number of data points, the expected value will increase.