Probability of Exceedance
Probability that a variable (or that an event) exceeds a specified reference level given exposure time.
EXAMPLE Examples of probabilities of exceedance during a given exposure time are the annual probability of exceedance of a specified magnitude of ground acceleration, ground velocity, or ground displacement.
Source:API RP 2EQ, Seismic Design Procedures and Criteria for Offshore Structures, First Edition, November 2014. Global Standards