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 44 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?

In 1886, William Bates reported on the discovery of a substance produced by the adrenal gland that turned out to be epinephrine (adrenaline). In 1904, this drug was first artificially synthesized by Friedrich Stolz.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

These older adults are participating in an exercise class at their assisted-living facility These older adults are participating in an exercise class at their assisted-living facility
Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
2006 Data:Top 25 Substances Involved in Human Exposures 2006 Data:Top 25 Substances Involved in Human Exposures
This battery shows a large “1000” on the front panel but this is the CA rating and not the ... This battery shows a large “1000” on the front panel but this is the CA rating and not the ...
Schematic representation of MHC class I molecule, consisting of 3 α domains and 1 β2-microglobulin ... Schematic representation of MHC class I molecule, consisting of 3 α domains and 1 β2-microglobulin ...
A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ... A diagram showing one of Mendel’s crosses. True-breeding strains of pea plants with smooth and ...
Video: What is an ecosystem?

For a complete list of videos, visit our video library