Which of the Following Statements Is (Are)true About the Loss

question 24

Multiple Choice

Which of the following statements is (are) true about the loss ratio method of class rating?
I.The pure premium is calculated,and it is loaded to cover expenses,profit,and contingencies.
II.The actual loss ratio is compared to the expected loss ratio,and the rate is adjusted accordingly.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Global Projects

Projects that involve stakeholders, teams, and impacts across multiple countries or worldwide.

Execution Phase

The stage in a project or process where the plans are put into action and the work required is performed.

Procurement

Procurement is the process of obtaining goods, services, or works from external sources, often through bidding or tender processes.

Identified Risks

Potential events or conditions that could negatively impact a project or business operation, which have been recognized and assessed for their impact and likelihood.