A Property and Casualty Insurance Company Wanted to Categorize Its

question 46

Multiple Choice

A property and casualty insurance company wanted to categorize its policyholders into five risk categories. Which of the following steps taken by the company would constitute operationalizing the concept of risk classification?

• A) creating a team for the research
• B) writing a plan to conduct research
• C) creating a process to quantify risk
• D) conducting a survey on risk measurement

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Definitions:

Microcomputers

Small-sized computers that are powerful enough for individual use, including personal computers.

General-Purpose Computers

Computers designed to perform a wide range of tasks, as opposed to being specialized for particular tasks.

Least Expensive

The option available that has the lowest cost associated with it.

Integration Capability

The ability of different technology systems and software applications to work together, sharing data and functionality for enhanced efficiency.