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- AD Banker Chapter Two Flashcards | Quizlet
Terms in this set (56) 1) Which of the following is not a factor in premium determination? A) Expenses, B) Interest, C) Mortality, or D) Reserves
- Question 51 of 100 All of the following | StudyX
Interest earned on invested premiums is a factor that reduces the premium needed, not a factor that directly determines it The insurer uses interest earned to offset the costs of claims and expenses
- [FREE] Insurance premium is determined by each of the following factors . . .
Upon considering these factors, the answer to the student's question is that liquidity is the factor that does not determine insurance premiums In essence, while mortality, interest, and expenses directly influence how premiums are set, liquidity simply reflects the company’s ability to pay claims when they arise without affecting the
- What type of factor is used to calculate life insurance premiums?
In summary, interest is not a factor used to determine life insurance rates, while mortality, expenses, and gender are all important considerations in setting premiums for life insurance policies
- Solved: Insurance premium is determined by each of the following . . .
D Mortality: This is a crucial factor, especially in life insurance, as it directly relates to the likelihood of claims being made based on the insured's lifespan Based on this analysis, the factor that does not directly determine insurance premiums is liquidity
- Unit 8 Flashcards by Lauren Pulido - Brainscape
Harold will pay a higher premium (C) The most significant factor in premium rate calculation is interest (D) Lucy, who is substantially overweight, has applied for a life insurance policy Her weight may affect her insurability, but not the amount of premium on her policy
- Which of the below is not a factor in determining life insurance premium?
Reserves are funds that insurance companies set aside to pay out claims They are not a factor in determining life insurance premiums because they are not directly related to the risk of death The other options are all factors that insurance companies consider when setting life insurance premiums
- Premiums for life insurance are based on all of the following, except . . .
Instead, factors such as expected mortality, interest, and expenses are used to calculate premiums Expected mortality refers to the probability of the insured person dying within a certain timeframe
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