Which of the Following Statements About Experience Rating Is (Are)true

question 20

Multiple Choice

Which of the following statements about experience rating is (are) true?
I.The insured's past loss experience is used to determine the premium for the next policy period.
II.Its use is generally limited to small firms whose actual experience lacks credibility.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

Understand the conditions under which a contract becomes personal and how it affects the assignability of the contract.

Distinguish between intended and incidental beneficiaries and their rights.

Explain the role and impact of oral assignments and their legal validity.

Comprehend the conditions under which third-party beneficiaries may enforce contractual rights.

---

Definitions:

Gender Gap

The discrepancy in opportunities, status, attitudes, and pay between men and women.

Political Attitudes

The views and opinions people hold about politics, policy, and the roles of governments and institutions in society.

Transfer

The act of moving or reassigning someone or something from one position, place, or jurisdiction to another.

Social Welfare

Organized efforts and policies aimed at providing assistance and support to individuals and families in need.