Insurance rates are NOT Select one: O a. Highly regulated by the federal government O b. Based primarily on unknown factors O c. Least predictable with liability insurance and most predictable with life insurance O d. Set by insurance agents On a scale from 1 to 20, 20 being the most risky, Griffin rates a 4, Caleb rates a 10, Lincoln rates an 11 and Joe rates a 19. If there are three rate classes, who should pay the substandard rate to achieve rate equity? If there are three rate classes, which two prospective insureds should be in the same rate class to achieve balance and equity within each rate class Select one: O a. Griffin and Joe O b. Griffin and Caleb O c. Joe and Lincoln O d. Lincoln and Caleb How can reinsurance be used to protect insurance companies who insure many homes in South Louisiana or along the coast of Florida? 1 A B I FYT: W WE DO % $