Multiple Choice
A rate-making method designed to adjust a premium to reflect the actual loss experience of an insured in a given time period is known as
A) retrospective rating,
B) experience rating,
C) manual, or class, rating,
D) schedule rating,
E) preferred risk rating.
Correct Answer:
Verified
Correct Answer:
Verified
Q53: In the loss ratio method of rate
Q54: Match the descriptions with their terms:<br>-The total
Q55: Match the descriptions with their terms:<br>-In reinsurance,
Q56: Match the descriptions with their terms:<br>-The function
Q57: Experience rating looks to the past lost
Q59: Interest earned by insurers on premiums collected
Q60: Credibility in rate making is used to
Q61: Successful underwriting occurs when an insurer has
Q62: When the number of exposure units in
Q63: Match the descriptions with their terms:<br>-A type