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Property-Casualty Underwriting Risk Only Exists When the Premiums Generated on a Given

question 52

True/False

Property-casualty underwriting risk only exists when the premiums generated on a given insurance line are less than the claims (losses) on the line.


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Social Institution

An established and organized system of social behavior with a recognized purpose.

Technology

The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machinery, and devices.

Economic System

An organized way in which a country or region allocates its resources and distributes goods and services within the community.

Societies

Groups of individuals who share common territories and cultures, forming organized and interdependent communities with various institutions and norms.

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