Author Question: Loss severity is defined as the A) probable size of the losses which may occur during some ... (Read 58 times)

kellyjaisingh · **on:** Jul 11, 2018

Loss severity is defined as the

A) probable size of the losses which may occur during some period.
B) probable number of losses which may occur during some period.
C) probability that any particular piece of property may be totally destroyed.
D) probability that a liability judgment may exceed a firm's net worth.

Question 2

Loss frequency is defined as the

A) probable size of the losses that may occur during some period.
B) probable number of losses that may occur during some period.
C) probability that any particular piece of property may be totally destroyed.
D) probability that a liability judgment may exceed a firm's net worth.