Author Question: JKL Insurance Company reported the following information on its accounting statements last year: ... (Read 57 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
JKL Insurance Company reported the following information on its accounting statements last year:
 
  Premiums Written 90,000,000
   Loss Adjustment Expenses 5,000,000
   Underwriting Expenses 30,000,000
   Premiums Earned 100,000,000
   Incurred Losses 70,000,000
  What was JKL's loss ratio last year?
  A) 70.0 percent
  B) 75.0 percent
  C) 83.3 percent
  D) 90.0 percent

Question 2

Which of the following items would appear in the income section of an insurance company's income and expense statement?
 
  A) underwriting expense
  B) bonds
  C) loss reserves
  D) premiums



DylanD1323

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

Answer: B

Answer to Question 2

Answer: D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

Recent studies have shown that the number of medication errors increases in relation to the number of orders that are verified per pharmacist, per work shift.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

For a complete list of videos, visit our video library