Question

What does the cost of expenses in insurance include?

a.

Only administrative expenses

b.

Only underwriting expenses

c.

Procurement expenses, underwriting expenses, administrative expenses, legal and miscellaneous expenses

d.

Only legal expenses

Answer: (c).Procurement expenses, underwriting expenses, administrative expenses, legal and miscellaneous expenses Explanation:The cost of expenses in insurance includes procurement expenses, underwriting expenses, administrative expenses, legal, and miscellaneous expenses.

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Q. What does the cost of expenses in insurance include?

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