Which of the Following Statements Is True Regarding Insurance Market

question 27

Multiple Choice

Which of the following statements is true regarding insurance market conditions and underwriting results?

• A)A combined ratio greater than one (or 100 percent)indicates profitable underwriting.
• B)In a "soft" insurance market,more retention is used than in a "hard" insurance market.
• C)Insurance rates are high and underwriting standards are tight when the insurance market is "hard."
• D)Property and liability insurance premiums and underwriting standards do not fluctuate over time.

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Definitions:

Appointment Book

A book or digital tool used to record dates, times, and details of future appointments or meetings.

Physician

A medical doctor trained to diagnose and treat illness, disease, and injuries.

Pelvic Exam

A physical examination of a woman's reproductive organs, including the vagina, cervix, uterus, fallopian tubes, and ovaries, often used to assess gynecological health.

Emergency Office

A dedicated area or establishment that provides immediate, urgent care for medical emergencies or crises.