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 31 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?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Drug-induced pharmacodynamic effects manifested in older adults include drug-induced renal toxicity, which can be a major factor when these adults are experiencing other kidney problems.

Apparent and True Orbits of Alpha Centauri. Apparent and True Orbits of Alpha Centauri.
Chimpanzees and horses have brains that are similar in size. Chimpanzees and horses have brains that are similar in size.
A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact, A recruiting poster for the “True Sons of Freedom” encouraged African Americans to enlist. In fact,
Student Raises Hand in Class Student Raises Hand in Class
Line immunoassay (LIA), also recombinant immunoblot assay (RIBA) and Immuno-stripe, is similar to a ... Line immunoassay (LIA), also recombinant immunoblot assay (RIBA) and Immuno-stripe, is similar to a ...
A fibrous root system has similar-sized adventitious roots that branch from the stem A fibrous root system has similar-sized adventitious roots that branch from the stem
Video: Rods and Cones Animation

For a complete list of videos, visit our video library