The Amount an Insurer Charges Per $100 of Exposed Property

question 53

Multiple Choice

The amount an insurer charges per $100 of exposed property value is called the:

• A) rate
• B) premium
• C) expense ratio
• D) funding ratio

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Definitions:

Inventory Ordering

Inventory ordering involves the process of replenishing stock to maintain adequate levels for production or sales, balancing supply with demand to minimize costs.

Selling And Delivery

Activities associated with marketing and transporting goods to the customer.

Electronic Commerce

The buying and selling of goods and services through the internet or other electronic systems.

Joint Innovations

Collaborative efforts between companies or individuals to create new products, services, or technologies.