CAS Exam 6C Spring 2016, Question 8
Study guide: Exam 6C
An agricultural producer insures the production of a particular crop under a plan with the following details:
| Item | Value |
|---|---|
| Area | 100 acres |
| Coverage Level | 70% |
| Probable Yield | 584 kg/acre |
| Price | $0.41/kg |
Part a (1 point)
Identify and briefly describe two types of yield-based production insurance programs in Canada.
Part b (1 point)
Identify and briefly describe two types of non-yield-based production insurance programs in Canada.
Part c (0.5 points)
Using the plan described above, calculate the indemnity paid to the producer with an actual production of 25,000 kg.
Part d (1.5 points)
Identify and briefly describe three other agriculture risk management programs in Canada under Growing Forward 2.
Answer this question and see the worked solution