III IC-47 A-1 Practice Questions - III IC-47 A-1 Foundation Of Casualty Actuarial Science Part I Exam

A fundamental goal of a rating system is to ensure rates are:

Adequate, not excessive, and not unfairly discriminatory. As low as possible to attract maximum market share. Uniform across all geographical regions. Subjective based on the underwriter's intuition.

Correct Answer:

Adequate, not excessive, and not unfairly discriminatory.

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