Suppose a set of apartments have a replacement cost of $1,472,000, and the contents are valued at
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Suppose a set of apartments have a replacement cost of $1,472,000, and the contents are valued at $2,285,000. If its territorial rating is 5, and its classification is C, what is the annual premium for a fire insurance policy? Multiple choice
Building Classification | ||||||
|---|---|---|---|---|---|---|
| A | B | C | ||||
| Territorial Rating | Building | Contents | Building | Contents | Building | Contents |
| 1 | $0.25 | $0.32 | $0.36 | $0.49 | $0.45 | $0.60 |
| 2 | $0.30 | $0.44 | $0.45 | $0.55 | $0.54 | $0.75 |
| 3 | $0.37 | $0.46 | $0.54 | $0.60 | $0.63 | $0.80 |
| 4 | $0.50 | $0.52 | $0.75 | $0.77 | $0.84 | $0.90 |
| 5 | $0.62 | $0.58 | $0.92 | $0.99 | $1.05 | $1.14 |
| a. | $48,899.00 |
| b. | $37,570.00 |
| c. | $30,176.00 |
| d. | $41,505.00 |
Expert Answer:
Related Book For 
Introduction to Mathematical Statistics and Its Applications
ISBN: 978-0321693945
5th edition
Authors: Richard J. Larsen, Morris L. Marx
Posted Date:
