Last year, XYZ Insurance Company had a combined ratio of 102.4 and lost $10.2 million on the insurance that it sold
The company, however, was required to pay income taxes. The best explanation for this apparent contradiction is that XYZ offset its underwriting loss with
A) increased loss reserves.
B) investment income.
C) increased loss adjustment expenses.
D) unearned premiums.
Answer: B
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Damages as a remedy will not be available in which of the following situations?
A) Jones, although being careful, makes an innocent misrepresentation persuading Smith to enter a contract with him. B) Jones makes a fraudulent misrepresentation, persuading Smith to enter a contract with him. C) Jones makes a negligent misstatement, persuading Smith to enter a contract with him. D) A false statement made by Jones becomes a term of the contract. E) Jones makes an intentional misrepresentation of fact in order to get Smith to sign the agreement.
Briefly identify several characteristics for a good systems analyst to have during requirements determination
What will be an ideal response?