Calculate the Annual Premium for the Following Motor Vehicle Insurance

question 115

Short Answer

Calculate the annual premium for the following motor vehicle insurance policy. $$\begin{array} { l l l l l l l } \text { Territory } & \begin{array} { l } \text { Driver } \\\text { Class }\end{array} & \begin{array} { l } \text { Bodily } \\\text { Injury }\end{array} & \begin{array} { l } \text { Prop. } \\\text { Damage }\end{array} & \begin{array} { l } \text { Model } \\\text { Class }\end{array} & \begin{array} { l } \text { Vehicle } \\\text { Age }\end{array} & \begin{array} { l } \text { Comp. } \\\text { Deduct. }\end{array} \\\hline 3 & 2 & 50 / 100 & 50 & \text { L } & 5 & \text { Full } \\&&&&&&\text { Coverage }\end{array}$$ $$\begin{array} { l l l } \text { Rating } & \text { Coll. } & \text { Annual } \\\text { Factor } & \text { Deduct. } & \text { Premium } \\\hline 1.5 & \$ 500 &\end{array}$$

Recognize the importance of biological and environmental factors in shaping human behavior and development.

Discuss the critical features and limitations of ethological theory.

Understand how observational learning and modeling influence development.

Understand the concept of reinforcement in operant conditioning and its role in behavior modification.

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Definitions:

Fixed Overhead Costs

Costs that do not change in total with changes in the volume of production or services.

Production Capacity

The maximum amount of output that a production facility can create, given the resources and constraints.

Negotiated Transfer Price

A price for goods or services transferred within a company, determined through negotiation between the selling and buying divisions or subsidiaries.

Negotiating Skills

The abilities and techniques used to effectively persuade or influence others in order to reach a mutual agreement.