Retrospective rating Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Retrospective rating? On this page you'll find 253 study documents about Retrospective rating.
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CRC EXAM QUESTIONS AND ANSWERS 100% PASS
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CRC EXAM QUESTIONS AND ANSWERS 100% PASS 
Risk Adjustment Data Element - Correct Answer ️️ -Age, Gende, Socioeconomic 
status, Disability status, Insurance status(Medicaid, dual-eligible,) Claims data elements 
such as procedure codes, place of service codes, special patient-specific conditions 
hospice, ESRD 
RAF - Correct Answer ️️ -Risk Adjustment Factor Scores 
Three main types of reviews - Correct Answer ️️ -Retrospective, Concurrent and 
prospective 
Retrospective - Correct Ans...
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C16 - CH8 - Pricing Insurance Coverages Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
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What is *retrospective rating plan*? 
: The retrospective rating plan is based on the insured's actual loss experience 
during the policy term. The client and insurer agree on a formula under which the 
ultimate cost of claims will be borne by the insured. Min and Max premium, 
LO - Explain the difference between ratemaking and the rating process 
: *Ratemaking* is preformed by actuaries and involves analyzing stats of past 
claims, estimating cost of settling current outstanding claims, and...
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UTAH PROPERTY-PROPERTY AND CASUALTY BASICS EXAM 2024 WITH 100% CORRECT ANSWERS
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Which of the following is a property policy with a provision agreed upon by the insurer and insured as to the amount of insurance that represents a fair valuation for the property at the time the insurance is written and suspends any coinsurance or other contribution clauses in the policy? a) Market value b) Agreed value c) Replacement cost d) Stated amount. Answer - B 
 
With regard to fire insurance premiums, structures with which of the following type of construction would most likely have th...
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HCA 6-14 Exam Questions with 100% Verified Solutions Rated A+
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adverse selection - Occurs when high risk individuals, that is, people who are more likely to use many health services, enroll in health insurance plans in greater numbers, compared to people who are healthy 
*When adverse selection occurs, premiums have to be raised for everyone 
 
adjusted community rating - AKA "modified community rating" 
 
*Overcomes the drawbacks of experience rating and pure community rating 
 
*Under this method, price differences take into account demographic fa...
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RMIN 4000 Test 2 Daniel Brown Latest 2024/2025 Updated Questions and Answers Guaranteed 100% Success.
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Prospective Loss Costs (Pure Premium) - Amount needed to pay future claims and loss 
adjustment expenses. 
Class (Manual) Rating: Frequency*Severity 
Lloyd's of London - Specialized lines of business. 
Brokers - represent policyholders to arrange coverage with syndicates. Legally represents 
insured. 
Syndicates - Offer insurance contracts in the market. 
Managing Agents - Manage the syndicates, who typically specialize in certain lines. 
Underwriters - Work for the syndicates to assess risks a...
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CEBS GBA2 Terms and Definitions Exam Questions and Answers
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CEBS GBA2 Terms and 
Definitions Exam 
Questions and Answers 
 
Bounded Rationality - Answer-When the consumer is functional only up to a certain 
point after which his/her choices are constrained or bound by limed knowledge and 
understanding of the available choices. 
Free Market Basic Assumption - Answer-Rational consumers will make informed 
decisions about value, quality, and price 
Moral Hazzard - Answer-Consumer will spend someone else's money different than 
their own 
Transparency on c...
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Nj Property and Casualty Insurance Exam | Complete Solutions, Latest Answers 2023 | Graded A+
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Nj Property and Casualty Insurance Exam | Complete Solutions, Latest Answers 2023 | Graded A+. 
Examples of surplus lines—State level Personal auto insurance plan PAIP an 
assigned risk plan , commercial auto insurance plan an assigned risk plan, The fair plan 
(property insurance) , Worker's Compensation assigned risk programs 
binder A temporary written or oral agreement to provide insurance coverage until a 
formal written policy is issued. 
Certificate of Insurance A legal document tha...
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Utah Property-Property and Casualty Basics Questions & Answers Already Graded A +
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In property insurance, actual cash value is defined as which of the following? a) Market value of the 
property at the time of the loss b) Stated value of the property as shown on the declaration c) The actual 
amount of a loss payable, less the policy deductible d) Replacement cost at the time of the loss, less 
depreciation. - D 
With regard to fire insurance premiums, structures with which of the following type of construction 
would most likely have the most favorable premium rate for the pe...
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ASP - Safety Management Systems 2024 All Answers Rated A+
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ASP - Safety Management Systems 2024 All Answers Rated A+ 
Indirect costs - uninsured costs 
costs of time & resources other than cash; costs are estimated 
safety management theory, accidents in the workplace are considered to be 
management failure 
safety management must Plan, organize, implement and control 
symptoms of 
Management must function to make decisions and have those decisions implemented 
Participative management style flow of information within the organization is in...
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Exam FX P&C Questions With Complete Solutions
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Judgement rating - Rating used by underwriters to rate one-of-a-kind risks. 
 
Schedule Rating - A rating plan that awards debits and credits based on specific categories, such as the care and condition of the premises or the training and selection of employees, to modify the final premium to reflect factors that the class rate does not include. 
 
expierence rating - insureds own past loss experience enters into the determination of the final premium 
 
Retrospective rating - A self-rating plan...
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