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NEW QUESTION: 1
In evaluating the claims experience during a given rating period of the Lucky Company, the Calaway Health Plan determined that the claims incurred by Lucky were lower than Calaway anticipated when it established Lucky's premium rate for the rating period. Calaway, therefore,refunded a portion of Lucky's premium to reflect the better-thananticipated claims experience. This rating method is known as:
A. durational rating
B. prospective experience rating
C. retrospective experience rating
D. blended rating
Answer: C

NEW QUESTION: 2
An operator is measuring the distance between two points. Which is most likely to be influenced by the operator?
A. All of these answers are correct
B. Calibration of the instrument
C. Precision of the measurement
D. Accuracy of the measurement
Answer: A

NEW QUESTION: 3
Danny, Doris and Dolly flipped a coin 5 times and each time the coin landed on "heads". Dolly bet that on the sixth time the coin will land on "tails", what is the probability that she's right?
A. ¾.
B. ½.
C. 1/3.
D. ¼.
E. 1.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
The probability of the coin is independent on its previous outcomes and therefore the probability for "head" or "tail" is always ½.