Which of the Following Statements About Judgment Rating Is True

question 44

Multiple Choice

Which of the following statements about judgment rating is true?

• A)It involves the manual rating of exposures.
• B)It is used when the loss exposures are so diverse that a class rate cannot be calculated.
• C)It is a form of experience rating.
• D)It is only used when credible loss statistics are available.

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Definitions:

Atlantic Slave Trade

The transatlantic trading of African people, primarily to the Americas, where they were sold as slaves from the 16th to the 19th centuries, a key part of the triangular trade.

Forefront

The leading or most important position or place, often used in the context of being at the forefront of a particular field or movement.

Movement

An act of changing physical location or position or of having this changed.

Cotton Gin

A machine invented by Eli Whitney in 1793 that quickly and efficiently removed seeds from cotton fibers, revolutionizing the cotton industry and significantly impacting the institution of slavery in the United States.