According to Kohlberg's theory of moral development, people resolve moral dilemmas by applying principles of equality and justice at the pre-conventional level

Ethics is:

A. one's religious and political values and beliefs. B. what is required by law. C. what is acceptable to the company. D. the fundamental principles of right and wrong.

According to the law of large numbers, what should happen as an insurance company increases the number of loss exposures that it insures?

A) Fewer losses should be expected to occur. B) The amount of premiums needed to cover losses should decrease. C) The volatility of the insurance company's underwriting results should increase. D) The difference between actual and expected results should decrease.