Which statement is true with regard to insurance ratemaking?
I. Rates are calculated by people known as adjustors.
II. An insurer doesn't know when insurance is sold if the premium charged is
(a) I only
(b) II only
(c) both I and II
(d) neither I nor II
Ans: (b) II only
Business
You might also like to view...
When appraising a vacant lot an appraiser would probably NOT take into consideration:
A. Land contours (topography). B. Replacement costs. C. Zoning. D. Available utilities.
Business
In an effort to facilitate exports, countries are designating certain areas as "free trade zones" (FTZ) or "special economic zones" (SEZ)
Indicate whether the statement is true or false
Business