What is based on statistical data and are large groups of similar risks can be classified by a few and easily identifiable characteristics and result in standard rates?

The correct answer is C. Manual rating. See the full explanation below for the reasoning.

Question

What is based on statistical data and are large groups of similar risks can be classified by a few and easily identifiable characteristics and result in standard rates?

Options

ANumerical rating
BPremium rating
CManual rating
DItem rating

How the community answered

(29 responses)

A
14% (4)
B
3% (1)
C
76% (22)
D
7% (2)

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