The Underwriting Function Is Designed to Be Sure That Premiums

question 41

Multiple Choice

The underwriting function is designed to be sure that premiums are based on

• A)income levels.
• B)the value of the loss.
• C)the value of the gain.
• D)the chance of loss.
• E)expense levels.

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Definitions:

Population Proportions

The fraction or percentage of the total population that is characterized by a particular attribute or characteristic.

Antioxidants

Substances that can prevent or slow damage to cells caused by free radicals, often found in foods and believed to be beneficial for health.

Population Variances

A measure of the dispersion of a population's data points from its mean.

Population Proportions

The fraction or percentage of a population that is characterized by a certain trait or attribute.