1.Which of the following affects the level of insurance premiums?a. probability

1.Which of the following affects the level of insurance premiums?a. probability of lossb. value of lossc. expected operating expensesd. all of the above2. Which of the following is likely to be a material component of an insurer s revenue?a. interest on bondsb .interest on mortgagesc. dividends on stocksd. all of the above3. Objective risk isa. synonymous with pure riskb. determined according to principles of probability and statisticsc. uninsurabled. synonymous with speculative risk4. The Law of Large Numbers isa. a statistical principle relied on by insurers in managing objective riskb. an informal rule of thumb for valuing pure risksc. a principle of portfolio diversification that helps manage interest rate riskd. none of the above