Match the Descriptions with Their Terms

Multiple Choice

Match the descriptions with their terms:
-A/An _________________ is an independent report on an applicant prepared by an outside agency for the purpose of assisting the underwriter.

A) ceding company
B) cession
C) credibility
D) excess line treaty or first surplus treaty
E) excess-of-loss treaty
F) formal facultative agreement
G) severity
H) gross premium
I) independent adjusters
J) informal facultative agreement
K) inspection report
L) loading
M) loss ratio
N) manual, or class, rating
O) merit, or individual,
P) policy writing
Q) pools or syndicates
R) preferred risks
S) production
T) pure premium
U) quota share treaty
V) rate making
W) rating bureau, or rate-making association
X) reinsurance
Y) reinsurance pool or exchange
Z) schedule rating