Washington State Insurance Practice Exam 2025 – Comprehensive All-in-One Guide to Exam Success!

Question: 1 / 400

Which rating involves developing rates by applying a schedule of charges and credits to a base rate?

Class Rating

Experience Rating

Judgment Rating

Schedule Rating

Schedule rating involves developing rates by applying a schedule of charges and credits to a base rate. This method helps insurers customize rates for specific risks by adjusting them based on predetermined criteria outlined in the schedule. Class rating, experience rating, and judgment rating are different rating methods that do not involve applying a schedule of charges and credits to a base rate.

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