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Question 7 7. Suppose that the incurred losses are $100,000 in one policy period. Based on the following table, the premium of a retrospective rating

Question 7 7. Suppose that the incurred losses are $100,000 in one policy period. Based on the following table, the premium of a retrospective rating plan for this policy period is $ $400,000 Standard Premium 10% Basic premium $800,000 Maximum premium $200,000 Minimum premium Excess Loss Premium Factor 5% 1.1 Loss Converse Factor 1.1 Tax Multiplier Previous MacBook Air

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