Alberta General Insurance Level 1 Practice Exam

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What does frequency of loss measure?

  1. The amount of money lost in claims

  2. How often losses occur

  3. The time it takes to process a claim

  4. The number of policies sold

The correct answer is: How often losses occur

The frequency of loss is a measure of how often insurance claims are made. Option A is incorrect because it refers specifically to the amount of money lost, not how often it happens. Option C may be a factor in the frequency of loss, but it is not the definition of it. Option D is also incorrect because it measures the number of policies sold, not how often losses occur.

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