This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: All of the following statements about class rating are true EXCEPT A) Exposures with similar ... (Read 71 times)

ashley

  • Hero Member
  • *****
  • Posts: 584
on: Jul 11, 2018
All of the following statements about class rating are true EXCEPT
 
  A) Exposures with similar characteristics are placed in the same underwriting class.
  B) The rate charged for each class reflects the average loss experience for that class.
  C) The complexity of class rating makes it inappropriate for personal lines coverages.
  D) It is based on the assumption that future losses to insureds will be determined by the same classification factors currently in use.

Question 2

The unit of measurement used in property and casualty insurance pricing is called the
 
  A) unit rate.
  B) premium.
  C) exposure unit.
  D) experience unit.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

izzat

  • Sr. Member
  • ****
  • Posts: 328
Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: C

Answer to Question 2

Answer: C


ashley

  • Hero Member
  • *****
  • Posts: 584
Reply #2 on: Jul 11, 2018
TY


izzat

  • Sr. Member
  • ****
  • Posts: 328
Reply #3 on: Jul 11, 2018
Happy to Help


« previous next »
 

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

true story true story
first day of my chemistry class.. this is what the teacher had to say first day of my chemistry class.. this is what the teacher had to say
Adapoids and omomyoids had longer snouts and are the first “true” primates. Adapoids and omomyoids had longer snouts and are the first “true” primates.
Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
An 8th grade class develops a linear model that predicts the number of cheerios (a small round ... An 8th grade class develops a linear model that predicts the number of cheerios (a small round ...
Similar-looking, related species that are native to distant geographic realms Similar-looking, related species that are native to distant geographic realms
Video: ADH and the arterioles, kidneys, sweat glands and the Atrial natriuretic peptide (ANP)

For a complete list of videos, visit our video library