Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Nov 25, 2020

Explain fully the concepts of risk pooling and diversification

Step by Step Solution

★★★★★

3.38 Rating (157 Votes )

There are 3 Steps involved in it

Step: 1

Pooling and Diversification Risk This is one of many important insurance concepts Individuals and bu... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing a business risk appraoch

Authors: larry e. rittenberg, bradley j. schwieger, karla m. johnston

6th Edition

9780324645095, 324645090, 978-0324375589

More Books

Students also viewed these Economics questions

Question

★★★★★

The concepts of risk and control are integrally related. Required a. Explain how risk and control are related. Is one concept broader than the other? Explain. b. What risks does a company have in...

Answered: 1 week ago

Question

★★★★★

Describe the idea of risk pooling and how it relates to warehouse location.

Answered: 1 week ago

Question

★★★★★

How are the concepts of risk and control interrelated?

Answered: 1 week ago

Question

★★★★★

The 32-kg spool of outer radius r, = 420 mm has a centroidal radius of gyration k = 265 mm and a central shaft of radius r; = 155 mm. The spool is at rest on the incline when a tension T= 243 N is...

Answered: 1 week ago

Question

★★★★★

(0, 5), (1, 10), (2, 8), (3, 6), (4, 4). Graph the given points and say which point does not seem to fall on the graph of a simple function.

Answered: 1 week ago

Question

★★★★★

An MBA program offers seven concentrations: accounting (A), finance (F), human resources (H), information systems (I), international business (B), marketing (M), and operations management (O)....

Answered: 1 week ago

Question

★★★★★

4. Communicate in appropriate waysuse the familys first language when possible. Tailor messages to the reading level of the home.

Answered: 1 week ago

Question

★★★★★

Focus group research conducted by advertising agencies like Leo Burnett shows that Asias youngsters (the proverbial Xgeneration) mimic American trends, but at the same time, they are pretty...

Answered: 1 week ago

Question

★★★★★

Problem 3: Do this problem by hand then double check your answer in MATLAB. (a) What will the two disp statements produce? a = 5; b = 6; c = 3; if a > 3 && c 1 && b...

Answered: 1 week ago

Question

★★★★★

1. Look at the list of accounts (in no particular order) of Geewhiz Productions at 30 November 2015 and decide which ones are income statement accounts. 2. Calculate net profit based on your answer...

Answered: 1 week ago

Question

★★★★★

5. Barbara Stone and James Lovejoy form a partnership with capital contributions of $700,000 and $800,000 respectively. Their partnership agreement calls for Barbara Stone to receive $150,000 in...

Answered: 1 week ago

Question

★★★★★

Joaquin goes for a job interview and is surprised that the interviewer asks him about his personal standards regarding how he would handle certain situations. He expected that the focus would be on...

Answered: 1 week ago

Question

★★★★★

Using this ER-Diagram, write an SQL Statement using CONSTRAINTS command and show atleast 1 data of the database. Write down below the SQL Statements and commands that was used. PDiagnosis PAddress...

Answered: 1 week ago

Question

★★★★★

1. (a)(i) What problem has been brought about by uncontrolled mining of minerals in Kenya? (ii) Where is fluorspar mined in Kenya? (iii) Describe how trona is mined and processed in Magadi (b) (i)...

Answered: 1 week ago

Question

★★★★★

In 2001, a commercial aircraft lost all power while flying at 10,000 m over the Atlantic Ocean, about 100 km from the Azores Islands. The skilled pilot put the plane into a gliding mode and...

Answered: 1 week ago

Question

★★★★★

Domino's Pizza franchises in New York were sued by the state of New York in 2016for wage theft at 10 stores.Under New York law, a corporation and a franchiser are joint employers if they meet certain...

Answered: 1 week ago

Question

★★★★★

Intermediate. A company manufactures a single product. Budget and standard cost details for next year include: Selling price per unit Variable production cost per unit Fixed production costs Fixed...

Answered: 1 week ago

Question

★★★★★

Fill in each blank so that the resulting statement is true. 83 + 103 = ______ .

Answered: 1 week ago

Question

★★★★★

Analytical review can be an extremely powerful tool in identifying potential problem areas in an audit. Analytical review can consist of trend and ratio analysis and can be performed by comparisons...

Answered: 1 week ago

Question

★★★★★

What evidence might the auditor gather to evaluate whether or not a company has made a commitment to appropriate levels of financial competencies? For example, Milicron, Inc. indicated it had a...

Answered: 1 week ago

Question

★★★★★

What is the auditor's primary responsibility for reporting a fraud that has been detected and corrected?

Answered: 1 week ago

Question

★★★★★

The American Statistical Association (ASA) studied whether it should offer a certification designation for its members, so that statisticians meeting the qualifications could be designated as...

Answered: 1 week ago

Question

★★★★★

Use the data in file integerwt.dat for this exercise. The strata are constructed with N1 =200, N2 =800, N3 =400, N4 =600. a. Take a stratified random sample with n1 = 50, n2 =50, n3 =20, and n4 =25....

Answered: 1 week ago

Question

★★★★★

Effect of weighting class adjustment on variances. Suppose that an SRS of size n is taken. Let Zi =1 if unit i is included in the sample and 0 otherwise, with P (Zi = 1) = n/N. Two weighting classes...

Answered: 1 week ago

Previous Question Next Question