BUISENESS MANAGEMENT
RISK MANAGEMENT
Question
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Risk aversion
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Actuarial table
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Death table
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Statistical table
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Detailed explanation-1: -In actuarial science and demography, a life table (also called a mortality table or actuarial table) is a table which shows, for each age, what the probability is that a person of that age will die before their next birthday ("probability of death").
Detailed explanation-2: -Actuarial table. A table of statistical data, derived using calculus and the laws of probability, that shows the likelihood of a risk, such as death, occurring to an individual in a certain profile (which can include age, gender, location, race, medical history, etc.).
Detailed explanation-3: -Actuarial tables (also called life expectancy tables, mortality tables, and life tables) are statistical tools used by companies, scientists, courts, and government agencies to predict the life expectancy of a person by their age, gender, and other factors.
Detailed explanation-4: -A mortality table, also known as a life table or actuarial table, shows the rate of deaths occurring in a defined population during a selected time interval, or survival rates from birth to death.
Detailed explanation-5: -What are the two kinds of actuarial tables? The two tables are the period life table (to determine mortality rates for a specific time period of a defined population) and the cohort life table (used to represent the overall mortality rates of a certain population’s entire lifetime).