RMI 2901 HW 7 S 11

RMI 2901 HW 7 S 11 - RMI 2901 Spring 2011 Homework # 7 Due...

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RMI 2901 Homework # 7 10 Points Spring 2011 Due Tuesday, April 5, 2011 READ THE QUESTIONS CAREFULLY. If questions are not labeled, I cannot give any credit for the answers. 1. Refer to the article, “The White Lie Syndrome”. a. Name and explain which ‘requirement or characteristic of an insurable risk’ is PRIMARILY illustrated in the article? (1 point) [2 sentences] b. Name AND completely and accurately DEFINE the violation of the characteristic of the insurable risk noted in part a. Use risk management terminology. (1 point) [2 sentences] c. The article states that “… the cost of fraud is passed along to the policyholder in the form of higher premiums.” Explain how fraud changes each of the three components of the gross premium. For each part of the gross premium, explain how or why fraud causes it to increase or decrease. Please note and be careful. You must explain why each component of the gross premium changes not just how it changes. Please label your answers in the following manner.
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This note was uploaded on 04/28/2011 for the course RMI 2901 taught by Professor Manaka during the Spring '11 term at Temple.

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RMI 2901 HW 7 S 11 - RMI 2901 Spring 2011 Homework # 7 Due...

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