UIUC FIN 341 - FIN 341 Review for the First Exam (10 pages)

Previewing pages 1, 2, 3 of 10 page document View the full content.
View Full Document

FIN 341 Review for the First Exam



Previewing pages 1, 2, 3 of actual document.

View the full content.
View Full Document
View Full Document

FIN 341 Review for the First Exam

65 views


Pages:
10
School:
University of Illinois at Urbana, Champaign
Course:
Fin 341 - Property-Liability Insurance

Unformatted text preview:

Review for the First Exam Describe Exam Review Major Topics Provide Study Tips and Exam Strategies Sample Exam First Exam When and Where Tuesday February 19 2002 8 30 9 50 am If your last name begins A G H Z Exam Location 162 Education 2 Education First Exam 20 Questions in Total Exam is Worth 30 Points Some True False or Multiple Choice Others Short Answer or Calculations Exam is Open Book Open Note Bring Calculator that you are familiar with using and Auto and Homeowners Sample Questions 1 Management of mutual insurers are immune to a hostile takeover by a new owner T F 2 The pure premium is the total of expected claims and expenses on an insurance policy T F Sample Questions 3 Preferred Risk Insurance Company wrote auto insurance for teetotalers What marketing strategy for competitive positioning is this company following A Market leader B Market challenger C Market follower D Market nicher E Market pricer Sample Questions 4 Calculate the gross premium using the pure premium method based on the following information Loss frequency Loss severity Fixed expenses Variable expenses 10 900 100 50 Sample Questions 5 A B C How do you calculate the combined ratio Loss ratio plus loss adjustment expense ratio Loss ratio plus expense ratio Loss ratio plus expense ratio minus investment income ratio Topics the Exam Covers Overview of Insurance Operations Marketing and Distribution Systems Underwriting Claims Adjusting Ratemaking Loss Reserving Reinsurance Guest Speaker Study Tips Review Homework Assignments If you have not been doing well on the assignments then you probably need to read the texts on reserve in Undergrad Library Review Class Projects Do not memorize material but know where it is located if you need to look it up Have organized notes Exam Strategies Answer all the questions you can answer without using your book and detailed notes first Then if you have time use your book and detailed notes to help you answer the remaining questions Do not get bogged down on



View Full Document

Access the best Study Guides, Lecture Notes and Practice Exams

Loading Unlocking...
Login

Join to view FIN 341 Review for the First Exam and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view FIN 341 Review for the First Exam and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?