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 99 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?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Proportions of the genetic and physical maps are similar but not identical Proportions of the genetic and physical maps are similar but not identical
Students in class Students in class
Ratings of Perceived Contradictions in Political Statements Ratings of Perceived Contradictions in Political Statements
Student Raises Hand in Class Student Raises Hand in Class
Differences in the antigen-processing pathways between MHC molecules class I and class II. Differences in the antigen-processing pathways between MHC molecules class I and class II.
Examples of Mission Statements Examples of Mission Statements
Video: Fermentation - When Oxygen Is Absent, Pyruvate to Lactate & Pyruvate to Ethanol

For a complete list of videos, visit our video library