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NEW QUESTION: 1
For a back office function processing 15,000 transactions a day with an error rate of 10 basis points, what is the annual expected loss frequency (assume 250 days in a year)
A. 0.06
B. 0
C. 1
D. 2
Answer: C
Explanation:
Explanation
An error rate of 10 basis points means the number of errors expected in a day will be 15 (recall that 100 basis points = 1%). Therefore the total number of errors expected in a year will be 15 x 250 = 3750. Choice 'a' is the correct answer.

NEW QUESTION: 2

A. Option B
B. Option D
C. Option C
D. Option F
E. Option G
F. Option E
G. Option A
Answer: C,D,F

NEW QUESTION: 3

A. Force x Time
B. Work / Time
C. Force x Distance
D. Work / Distance
Answer: B

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