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PRMIA Exam 8007 Topic 1 Question 7 Discussion

Actual exam question for PRMIA's Mathematical Foundations of Risk Measurement – 2015 Edition exam
Question #: 7
Topic #: 1
[All Mathematical Foundations of Risk Measurement – 2015 Edition Questions]

Which of the following statements are true about Maximum Likelihood Estimation?

(i) MLE can be applied even if the error terms are not i.i.d. normal.

(ii) MLE involves integrating a likelihood function or a log-likelihood function.

(iii) MLE yields parameter estimates that are consistent.

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Suggested Answer: C

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