In the context of rate making, explain the meaning of: a. rate b. exposure unit c. pure

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In the context of rate making, explain the meaning of:
a. rate
b. exposure unit
c. pure premium
d. gross premium

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Principles of Risk Management and Insurance

ISBN: 978-0132992916

12th edition

Authors: George E. Rejda, Michael McNamara

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Question Posted: Jan 30, 2015 07:39 AM

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In the context of rate making, explain the meaning of: a. rate b. exposure unit c. pure

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a The rate is the price per unit of insurance b The exposure unit is the unit of measurement used ...View the full answer

Principles of Risk Management and Insurance

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