Rmin4000 final - Study guides, Class notes & Summaries

RMIN4000 FINAL EXAM BROWN |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

RMIN4000 Final Exam Brown Questions and Answers | Latest Update | 2024/2025 | 100% Verified How do you calculate the total premium if the expected loss is $50,000, administrative costs are $10,000, and the desired profit margin is 15%? Total premium = Expected loss + Administrative costs + (Expected loss + Administrative costs) × Profit margin Total premium = $50,000 + $10,000 + ($50,000 + $10,000) × 0.15 Total premium = $60,000 + $9,000 Total premium = $69,000 What is ...

RMIN4000 Final Exam Brown Questions and Answers 2024

1. Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehi- cles. What was Lannister's collision loss frequency in 2019?: Ans- 0.08 (16k/200k) 2. Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those ve- hicles. What was Lannister's collision loss severity in 2019?: Ans- 8500 (136M/16K) 3. Michae...

RMIN4000 Final Exam Brown Questions and Answers 2024.

RMIN4000 FINAL EXAM BROWN |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? -:- 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? -:- 8500 (136M/16K) Michael Scott o...

RMIN4000 FINAL EXAM BROWN UNIVERSITY QUESTIONS AND ANSWERS 100% SOLVED Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's co...

RMIN4000 FINAL EXAM BROWN UNIVERSITY QUESTIONS AND ANSWERS 100% SOLVED Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's co...

RMIN4000 FINAL EXAM BROWN Questions and Answers 100% Solved Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision lo...