A Score Derived from an Individual's Credit History and Other

question 18

Multiple Choice

A score derived from an individual's credit history and other factors that is used by many auto and homeowners insurers for underwriting and rating purposes is called a(n)

• A)CLUE score.
• B)insurance score.
• C)expense ratio score.
• D)combined ratio score.

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Definitions:

Total Common Corporate Costs

Overhead or administrative expenses shared across the various divisions or departments of a company.

Fixed Manufacturing Overhead

The set costs associated with operating a manufacturing facility that do not vary with the level of production, such as rent, insurance, and salaries of permanent staff.

Direct Labor

The cost associated with the work of employees who are directly involved in the production of goods or services.

Financial Advantage

The position of having superior financial resources or capabilities compared to others, providing a competitive edge.