Answer:
$2,034,500 ; A
Explanation:
In this question, we are asked to calculate cost estimate.
One of the methods which we can use to do this is the cost factor technique.
Mathematically, the estimated total cost will be;
Ct = hCe
Where Ce refers to cost at major equipment and h is the overall cost factor.
From the question, we can identify the following;
Ce is $650,000 while h = 1.82 + 1 + 0.31 = 3.13
Inputing these values in the formula, we have;
Ct = $650,000 * 3.13 = $2,034,500
Answer:
Facultative
Explanation:
Facultative reinsurance is a type of coverage which covers a single risk or a block of risks held in the book of business of the insurer who has purchased the cover.
It allows the company which reinsurance to review individual risks which helps in determining whether to accept or reject them
The Facultative reinsurance is more focused in nature.
Explanation:
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