PolicyCenter Configuration 10.0 Exam
Questions with Complete Solutions
What are the 2 primary entities in the data model - Answer-Account and Policy
Policy Period - Answer-Policy Period allows a point in time reconstruction of all key
policy attributes.
Policy Line - Answer-The majority of the contents of the
policy(coverables,coverages,coverage terms, etc are captured under PolicyLine
Coverable - Answer-What is being "covered" on the policy(the risk) vehicle, location,
building, etc
Cost - Answer-Every Policy line has a LineCost entity, (ie. WCCost) A cost represents a
unit of price for a specific combination of policy elements for a specific period of time
which should not be broken up any further.
Transaction - Answer-A transactioon represents a line item in a running log of pricing
changes.
Where do transactions live? - Answer-Transactions live off the policy period and point to
the costs that they offset or onset.
What do offset transactions point to? - Answer-offset transactions point to a cost in the
based-on period
what do onset transactions point to? - Answer-onset transactions point to costs in the
same period.
What are the 6 entities related to policy contents - Answer-PolicyLineAnswer, Modifier,
RateFactor, PolicyContact, PolicyLocation, Form
PolicyLineAnswer - Answer-This entity stores answers to questions in location and
supplemental question sets
Modifier - Answer-This entity stores modifiers for all policy lines, a modifier is a value
used by the rating engine to adjust the policy premium or some portion of it.
RateFactor - Answer-This entity stores rate factors for schedule rate modifiers.
Schedule rate is a special type of modifier which captures judgment of he
underwriter(as opposed to fact). It consists of one or more decimal values each of which
is constrained to a given range.
Questions with Complete Solutions
What are the 2 primary entities in the data model - Answer-Account and Policy
Policy Period - Answer-Policy Period allows a point in time reconstruction of all key
policy attributes.
Policy Line - Answer-The majority of the contents of the
policy(coverables,coverages,coverage terms, etc are captured under PolicyLine
Coverable - Answer-What is being "covered" on the policy(the risk) vehicle, location,
building, etc
Cost - Answer-Every Policy line has a LineCost entity, (ie. WCCost) A cost represents a
unit of price for a specific combination of policy elements for a specific period of time
which should not be broken up any further.
Transaction - Answer-A transactioon represents a line item in a running log of pricing
changes.
Where do transactions live? - Answer-Transactions live off the policy period and point to
the costs that they offset or onset.
What do offset transactions point to? - Answer-offset transactions point to a cost in the
based-on period
what do onset transactions point to? - Answer-onset transactions point to costs in the
same period.
What are the 6 entities related to policy contents - Answer-PolicyLineAnswer, Modifier,
RateFactor, PolicyContact, PolicyLocation, Form
PolicyLineAnswer - Answer-This entity stores answers to questions in location and
supplemental question sets
Modifier - Answer-This entity stores modifiers for all policy lines, a modifier is a value
used by the rating engine to adjust the policy premium or some portion of it.
RateFactor - Answer-This entity stores rate factors for schedule rate modifiers.
Schedule rate is a special type of modifier which captures judgment of he
underwriter(as opposed to fact). It consists of one or more decimal values each of which
is constrained to a given range.
