CAS Exam 5 Fall 2015, Question 6
Study guide: Exam 5
Given the following information:
| Calendar Year 2014 | |
|---|---|
| Written premium | $560.00 |
| Earned premium | $616.00 |
| Commissions | $67.20 |
| Taxes, licenses and fees | $19.60 |
| General expenses | $73.92 |
| LAE ratio (to loss) | 8.2% |
| Combined ratio | 100% |
Calculate the 2014 operating expense ratio.
Part a (1 point)
Answer this question and see the worked solution