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  • GIC Agent (IRDA) - 2
  • Rate is ________
Multiple choice

Rate is ________

  1. same as premium

  2. not same as premium

  3. same as claim

  4. same as target

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

A rate is the price per unit of insurance for each exposure unit, which is a unit of liability or property with similar characteristics. Rate decides the premiums.So it is not same as premium.

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