When Compared to Their Peers, Which One of the Following

question 7

Multiple Choice

When compared to their peers, which one of the following methods is used to determine the premium rate?

• A) Schedule rating
• B) Experience rating
• C) Manual rating
• D) Retrospective rating
• E) Disability rating

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Definitions:

Ineffective Marketing Plan

A strategy for promoting and selling products or services that fails to achieve its intended sales or market share goals.

Product Liability

The legal responsibility of manufacturers and sellers for defects in the products they offer that cause harm to consumers.

Manufacturing Defect

A flaw in the production of a product that causes it to deviate from its intended design or specifications.

Design Defect

A flaw in the intentional design of a product that results in it being unsafe for its intended or reasonably foreseeable use.