115 Kyra is the owner and president of Borealis Fit, a martial arts studio with 15 employees. The centreopened five years ago and has done well. Kyra was never able to offer her employees any benefits untilnow. Kyra meets with Monica, an insurance agent, to implement a group insurance plan for theemployees.Which method of calculating rates will the insurer use to quote the group premiums?Select one correct answer from the list1. Manual rating2 Blended rating3. Credibility rating4. Experience rating.7 Josephine visits her dentist in downtown Victoria, BC, to have a cavity filled. The procedure costs her$550 but the maximum fee for a standard filling, according to the provincial dental schedule, is $400.Josephine works for a company that offers employees group dental coverage with a yearly maximum of$1,000 and an 80% co-insurance factor.How much will Josephine receive from the insurer for her procedure?Select one correct answer from the list1 $02 $32034$400$4400 0 0 0

Group insurance is a type of insurance that covers a group of people who share a common…

Kyra is the owner and president of Borealis Fit, a martial arts studio with 15 employees. The centre opened five years ago and has done well. Kyra was never able to offer her employees any benefits until now. Kyra meets with Monica, an insurance agent, to implement a group insurance plan for the employees. Which method of calculating rates will the insurer use to quote the group premiums?

Kyra is the owner and president of Borealis Fit, a martial arts studio with 15 employees. The centre opened five years ago and has done well. Kyra was never able to offer her employees any benefits until now. Kyra meets with Monica, an insurance agent, to implement a group insurance plan for the employees. Which method of calculating rates will the insurer use to quote the group premiums?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

115

Kyra is the owner and president of Borealis Fit, a martial arts studio with 15 employees. The centre
opened five years ago and has done well. Kyra was never able to offer her employees any benefits until
now. Kyra meets with Monica, an insurance agent, to implement a group insurance plan for the
employees.
Which method of calculating rates will the insurer use to quote the group premiums?
Select one correct answer from the list
1. Manual rating
2 Blended rating
3. Credibility rating
4. Experience rating.
7

Josephine visits her dentist in downtown Victoria, BC, to have a cavity filled. The procedure costs her
$550 but the maximum fee for a standard filling, according to the provincial dental schedule, is $400.
Josephine works for a company that offers employees group dental coverage with a yearly maximum of
$1,000 and an 80% co-insurance factor.
How much will Josephine receive from the insurer for her procedure?
Select one correct answer from the list
1 $0
2 $320
3
4
$400
$440
0 0 0 0

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