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Liberty Mutual Insurance Associate Consultant Interview Question (student candidate)

"If an insurance company pays up to $1000 on a claim, how much will the insurance company pay if 50 people file claims for $1600 and 25 people file claims for $800?"
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Part of a Associate Consultant Interview Review - one of 619 Liberty Mutual Insurance Interview Reviews

Answers & Comments

of 0

$70,000. 50 multiplied by 1000 plus 25 multiplied by 800.

- Beverly on Nov 6, 2011
of 0

Assuming that not everyone get's paid out on the claims they submitted: let's approximate that 80% of the claims are legitimate and that the company pays out the maximum amount available for each claim.

That would be
.8x50=40 claims @ $1K = $40,000
.8x25=20 claims @$800= $16,000

Total payout of $56,000.

- Tim on Nov 20, 2011

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