Question 9 (1 point) Which statement is NOT a reason why the law of large numbers is important to insurance? The greater the number of similar exposures to a peril, the less the chance there will be a moral hazard. The greater the number of similar exposures to a peril, the less the observed loss experience will deviate from the expected loss experience. The larger the number of exposures, the greater the spread of risk. The larger the number of exposures, the greater certainty we have in predicting the outcome of the group's experience. Question 10 (1 point) Under a Universal Life policy, a policyowner can choose how much premium they wish to pay each year. The policyowner can choose to skip premium payments as long as what condition is met? As long as the cash value is enough to cover the policy charges. The policyowner cannot skip more than 1 payment in a row. As long as the regular annual premium is at least $1,000. The policyowner must demonstrate insurability