1. Suppose that the probability of n claims is 1/2n+1 and the probability is e-2x that a given claim will be greater than x. What is the probability that the aggregate claims will be less than or equal to log (10)?
2. A policy will cover 75% of all losses in excess of 240 with the further provision that a maximum payment of 2700 will be made regardless of the loss. Express the amount paid on a claim with terms of the form X ∧ d, where X is the actual loss.