Match the descriptions with their terms:
-The function in insurance most closely related to the sales function is known as _________________.
A) ceding company
B) cession
C) credibility
D) excess line treaty or first surplus treaty
E) excess-of-loss treaty
F) formal facultative agreement
G) severity
H) gross premium
I) independent adjusters
J) informal facultative agreement
K) inspection report
L) loading
M) loss ratio
N) manual, or class, rating
O) merit, or individual,
P) policy writing
Q) pools or syndicates
R) preferred risks
S) production
T) pure premium
U) quota share treaty
V) rate making
W) rating bureau, or rate-making association
X) reinsurance
Y) reinsurance pool or exchange
Z) schedule rating
Correct Answer:
Verified
Q21: An excess-of-loss treaty is a form of
Q22: The Insurance Services Office (ISO) is a
Q23: Facultative reinsurance is the most complex form
Q24: The amount of risk retained by a
Q25: The most common types of pro-rata reinsurance
Q27: Match the descriptions with their terms:
-The function
Q28: Match the descriptions with their terms:
-That portion
Q29: Match the descriptions with their terms:
-The total
Q30: Match the descriptions with their terms:
-In insurance
Q31: Match the descriptions with their terms:
-An organization
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