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Questions and Answers
According to the text, what is the primary data source used for ratemaking analyses?
According to the text, what is the primary data source used for ratemaking analyses?
- Internal historical data (correct)
- Industry historical data
- External data
- Transactional information
What is the primary purpose of ratemaking data?
What is the primary purpose of ratemaking data?
- To analyze the adequacy of rates for existing insurance products (correct)
- To collect and maintain pertinent and consistent historical data
- To search for internal information related to the new product
- To minimize distortions in the results of the study
According to the text, which of the following is not a type of data involved in ratemaking analysis?
According to the text, which of the following is not a type of data involved in ratemaking analysis?
- Risk information
- Underwriting expenses
- Policy characteristics (correct)
- ULAE
