Multiple Choice
XYZ Insurance Company uses class rating to determine the rate to charge for insurance.For one type of insurance,the pure premium XYZ actuaries calculated is $75 per unit.If XYZ's expense ratio is 25 percent,what is the gross rate for this coverage?
A) $37.50
B) $55.25
C) $75.00
D) $100.00
Correct Answer:
Verified
Correct Answer:
Verified
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