The Operating Ratio Is Calculated as

question 21

Multiple Choice

The operating ratio is calculated as

• A)the loss ratio minus the underwriting cycle lag.
• B)the loss ratio plus the loss adjustment expense ratio plus the commission to premium ratio.
• C)the combined ratio after dividends minus the investment yield.
• D)the combined ratio minus the loss ratio.
• E)none of these options are correct.

Relate buying decisions to customer involvement and provide examples.

Comprehend the levels of need awareness in the buying process.

Describe effective sales presentation techniques including the FAB selling technique.

Understand the stages of the consumer buying decision process.

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Definitions:

Trephining

An ancient surgical intervention where a hole is drilled or scraped into the human skull, exposing the dura mater to treat health problems related to intracranial diseases.

Biotherapy Techniques

Treatments in medical and mental health disciplines that involve using living organisms, substances derived from living organisms, or synthetic versions of such substances to treat or prevent disease.

Psychosurgery

A type of brain surgery, such as lobotomy, performed to alter behavior and treat mental illness by removing or destroying brain tissue.

Electroshock Treatment

Also known as electroconvulsive therapy (ECT), a psychiatric treatment in which seizures are electrically induced in patients to provide relief from mental disorders.