Ratemaking Analysis Quiz

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Questions and Answers

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?

  • 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?

  • Risk information
  • Underwriting expenses
  • Policy characteristics (correct)
  • ULAE

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