The Combined Ratio Is

question 21

Multiple Choice

The combined ratio is:

• A) the loss ratio plus the expense ratio
• B) a measure of underwriting losses
• C) the loss ratio divided by the expense ratio
• D) a measure of capital gains and dividend returns

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Definitions:

Managing Outsourcing

The practice of overseeing and directing work or services to external vendors to achieve desired outcomes efficiently.

Strategic Focus

The concentration of an organization's efforts and resources on a specific, clearly defined strategic direction or goal to gain a competitive advantage.

Specialized Expertise

The high level of skill or knowledge in a particular area that sets individuals or organizations apart from others.

Strategic Control

A process used by organizations to monitor and adjust their strategies to meet their goals and respond to internal and external changes.