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 69 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?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Which of the following statements is true of linkage? Which of the following statements is true of linkage?
Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Women who are monozygotic twins and have the same genes are more similar in their marital happiness Women who are monozygotic twins and have the same genes are more similar in their marital happiness
A sidewheeler on the Mississippi. In 1856 Samuel Clemens became an apprentice to a steamboat pilot a A sidewheeler on the Mississippi. In 1856 Samuel Clemens became an apprentice to a steamboat pilot a
Examples of Mission Statements Examples of Mission Statements
Anterosuperior view of true pelvis (blue) Anterosuperior view of true pelvis (blue)
Video: Acid-base imbalances - respiratory acidosis and alkalosis

For a complete list of videos, visit our video library