3-80 If the Loss Ratio on a Line of Insurance

question 95

Multiple Choice

3-80 If the loss ratio on a line of insurance is 70 percent and loss adjustment expenses are 33 percent,then the line is profitable before dividends if the ratio of

• A)commissions and other expenses are 15 percent and investment yields are 10 percent.
• B)commissions and other expenses are 5 percent and investment yields are 6 percent.
• C)commissions and other expenses are 16 percent and investment yields are 20 percent
• D)commissions and other expenses are 15 percent and investment yields are 12 percent.
• E)commissions and other expenses are 6 percent and investment yields are 4 percent.

Identify the legal outcomes in scenarios involving agents conducting activities that endanger third parties or involve abnormally dangerous activities.

Understand the basic concepts and terminology related to loops in programming.

Identify and differentiate between pretest and posttest loops.

Recognize the importance of loop control variables in iteration statements.

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Definitions:

Average Variable Cost

The total variable costs (costs that change with output level) divided by the quantity of output produced.

AVC

Average Variable Cost; the cost of variable inputs divided by the quantity of output produced.

AFC

Average Fixed Cost, which is the fixed costs of production divided by the quantity of output produced.

MC

Marginal Cost, the change in total cost that arises when the quantity produced is incremented by one unit.