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The CRO of Creemore Beverages identified the following cost factors for its incurred loss retrospective rating plan: Policy Limit: $5,000,000 per occurrence Standard Premium: $750,000
The CRO of Creemore Beverages identified the following cost factors for its incurred loss retrospective rating plan: Policy Limit: $5,000,000 per occurrence Standard Premium: $750,000 Discount: $50,000 Basic Premium: 20% of standard premium Loss Conversion Factor: 1.10 Loss Limit: $500,000 per occurrence Excess Loss Premium Factor: 10% Tax Multiplier: 1.04 Maximum Premium: 150% Minimum Premium: 45% The Creemore Beverages minimum premium is: Group of answer choices $440,500 $337500 $400,500 $540,500
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Accounting For Decision Making And Control
Authors: Jerold Zimmerman
7th Edition
0078136725, 9780078136726
