Fundamental Counting Principle
In a barangay singing competition with 12 contestants, in how many ways can the organizer arrange the first three singers?
1320
How many 4-digit numbers can be
formed from the digits 0, 1, 2, 3, 4 and 5 if the numbers formed are less than 5000?
4x6x6x6 = 864
How many 4-digit numbers can be formed from the digits 2, 3, 4, 6 and 7 if all numbers formed are even
5x5x5x3 = 375
If you have an equal number a nickels, dimes and quarters in a bag. What is P(dime) if chosen at random?
1/3=0.33333333
What kind of relationship does deductible and premiums have and what does that mean?
When we say that the deductible and premium have an inverse relationship, it means that as one increases, the other decreases.
In how many ways can a chairman and a vice-chairman be chosen in a committee composed of 5 students?
5x4 = 20
In how many ways can a true-false test consisting of 9 questions be answered?
29 or 512
If a coin is tossed three times, how any ways can the outcome be one head and two tails?
3 S={(HTT),(THT),(TTH)}
In your wallet, if you have 7 $1 dollar bills, 9 $5 dollar bills, and 8 $10 dollar bills. What is the probability of pulling out a $1 dollar bill?
7/24 = 0.291666
Which term refers to the maximum amount your insurance policy will pay out for covered claims in a given year?
Coverage Limit
A coin is tossed 4 times, how many possible outcomes will it have?
24 or 16
A computer password consists of 2 lower case letters followed by 3 digits. How passwords are possible if repetitions are not allowed?
26x25x10x9x8 = 468,000
How many 4-digit numbers can be
formed from the digits 0, 1, 2, 3, 4 and 5 without repetitions?
5X5X4X3 = 300
Which of the following pairs of events is NOT a mutually exclusive event in basic financial terms?
A) Buying a government bond and buying a corporate bond with the same $1,000 at the same time.
B) Purchasing Stock X and purchasing Stock Y using the same $500 that can only be invested in one stock.
C) Earning a dividend from Stock Z and receiving interest income from a savings account in the same year.
D) Choosing to invest in a real estate fund or a mutual fund with a fixed budget that cannot be split.
C) Earning a dividend from Stock Z and receiving interest income from a savings account in the same
What is a health insurance deductible?
The amount of money that you have to pay before the insurance will pay for you.
In an election for SSG president, there are 7 female candidates and 5 male candidates. How many ways can a student choose their SSG president?
7+5=12 ways
How many 2-digit numbers can you form using the digits 2,3,4,6,1,0 if the digits are not repeated?
25
How many 4-digit numbers can be
formed from the digits 0, 1, 2, 3, 4 and 5, if the numbers are odd?
5x6x6x3 = 540
Imagine you are picking one card from a standard deck of playing cards. What is the probability that you pick either a Queen or a Spade?
4/13 = 0.307...
List deductible, copay, and out-of-pocket maximum in order from least to greatest.
Copay, deductible, out-of-pocket- maximum
In how many ways can a student answer a 5-item true or false exam?
25
How many 2-digit numbers can you form using the digits 2,3,4,6,1,0 if the number formed is odd?
5x2 = 10
A code consists of 3-digits, each of which may be a number from 0 to 9. How many codes can be formed if only the first and the last digits are the same?
10X9X1 = 90
Your friend offers you a deal:
What is the expected value and what does it mean on average?
The expected value of the deal is -$1, meaning on average, you would lose $1 per game if you played this bet many times.
What is an example of a situation that would fall under the following insurances?
Short Term Disability
Long Term Disability
(Teacher's discretion)