Insurers Obtain Data That Can Be Used to Determine Rates

question 16

Multiple Choice

Insurers obtain data that can be used to determine rates from

• A)pricing pools.
• B)insurance advisory organizations.
• C)banks.
• D)reciprocal exchanges.

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Definitions:

Synthetic Division

A shortcut method for polynomial division, especially when dividing by a linear factor, and separating the coefficients.

Rectangle Area

The area of a rectangle is calculated by multiplying its length by its width.

Width

Width refers to the measurement or extent of something from side to side; in geometry, it is often used to describe the shorter side of a rectangle.

Division

A mathematical operation that is the inverse of multiplication; it involves splitting a quantity into equal parts.