QUESTION ONE: As a result of the COVID lockdown in Victoria, you have created a blog site which discusses various aspects of insurance. On your site you have a Q & A section where you invite questions from your subscribers. Last month your subscribers sent you the following three queries: 1. Can you explain the concept of the law of large numbers? (3 marks) 2. What is the purpose and meaning of deeming used by the Government to determine an age pensioners ability to claim the Age Pension? (3 marks) 3. What does the term endorsement mean on an insurance policy? (4 marks) REQUIRED: Please respond to the above three queries and where possible provide an example to help explain the concepts.