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An insurance agent needs to spend $100 on paperwork for a premium, and they want to make a 5% profit at the end. They have 10 months of coverage where the possible loss is $500 a month. How much should they charge the client?
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Underwriting Specialist

Interviewed at National Indemnity Company

3.7★
Dec 2, 2015

An insurance agent needs to spend $100 on paperwork for a premium, and they want to make a 5% profit at the end. They have 10 months of coverage where the possible loss is $500 a month. How much should they charge the client?

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