Multiple choice technology testing

When a policy created through Q&I is in rating error – Reason code 702, it shows that

  1. The policy cannot be rated because the rate tables do not contain rates for the limits which show in the premium section.

  2. Limits are invalid for the rating state or province.

  3. Invalid territory

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This question tests knowledge of insurance policy rating systems, specifically Q&I (Quote and Issue) error codes. Reason code 702 indicates that a policy cannot be rated due to missing or invalid rating information. All three listed causes (A: rate tables don't contain rates for the limits shown, B: limits are invalid for the rating state/province, C: invalid territory) are valid reasons for this error code, making 'All of these' the correct answer.

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