ALREADY 4TH TIMES SUBMIT THE QUESTION DIDN'T FULL ANSWER GIVEN ME.

1. The amount that must be added to the pure premium to cover expenses and earn profit is: *

Gross Rate

Contribution Margin

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Gross Premium

2. The level of policyholder's surplus helps determining potential client benefits the company can offer *

False

True

3. To determine the installment premiums, the future value at the end of the policy period must be discounted back. *

True

False

4. Claims that incurred but not reported falls under: *

Both a and b

Unearned Premium Reserve

Tabular Method

IBNR reserve

5. Rates should not fluctuate with changes to economic conditions. *

True

False

6. Judgement method is the most effective method for determining reserves: *

False

True

7. Policyholders must pay more than the actual value of their protection? *

True

False