Author Question: The purpose of the Financial Analysis Solvency Tracking (FAST) system employed by the NAIC is to ... (Read 31 times)

WhattoUnderstand · **on:** Jul 11, 2018

The purpose of the Financial Analysis Solvency Tracking (FAST) system employed by the NAIC is to

A) prioritize insurance companies for additional regulatory action.
B) quicken the approval of rates in prior approval states.
C) speed-up the claims settlement process for insurers charged with delaying claims payments.
D) quickly address market conduct complaints by consumers.

Question 2

A score derived from an individual's credit history and other factors that is used by many auto and homeowners insurers for underwriting and rating purposes is called a(n)

A) CLUE score.
B) insurance score.
C) expense ratio score.
D) combined ratio score.