10.1. You are filing a rate change from current rates in effect since 5/1/2018. To determine the overall rate change required, you use the loss ratio method. The rate change is based on experience on policies issued in 2017 and 2018. Fixed expenses are 50 per policy. Earned premiums and number of exposures for 2017 and 2018 were Calendar Year Earned Premiums Number of Exposures 750 900 2017 2018 378,250 450,000 All policies are one-year policies and are issued uniformly throughout the year. Previous rate changes were +4.5% on 5/1/2016, +3.5% on 5/1/2017, and +6% on 5/1/2018. Calculate the fixed expense ratio used for the rate change calculation. 10.1. You are filing a rate change from current rates in effect since 5/1/2018. To determine the overall rate change required, you use the loss ratio method. The rate change is based on experience on policies issued in 2017 and 2018. Fixed expenses are 50 per policy. Earned premiums and number of exposures for 2017 and 2018 were Calendar Year Earned Premiums Number of Exposures 750 900 2017 2018 378,250 450,000 All policies are one-year policies and are issued uniformly throughout the year. Previous rate changes were +4.5% on 5/1/2016, +3.5% on 5/1/2017, and +6% on 5/1/2018. Calculate the fixed expense ratio used for the rate change calculation