MANUAL RATES Meaning and
Definition
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Manual rates refer to rates or prices that are determined or calculated manually. It is a term commonly used in various industries, particularly in financial and insurance sectors.
In finance, manual rates often pertain to interest rates that are set by financial institutions based on their own analysis and assessment of market conditions and risk factors. Unlike automated or market-driven rates, manual rates are determined by human judgment and expertise. Financial institutions may adjust these rates based on factors such as economic indicators, customer creditworthiness, and the bank's own risk tolerance.
In the insurance industry, manual rates are used to price insurance policies. Insurers establish these rates by considering various factors such as the insured person's age, health, occupation, and other relevant factors. Manual rates help insurers calculate the premium or cost of the insurance policy.
The term "manual" implies that these rates are not predetermined or computer-generated. Instead, they are determined through careful analysis, assessment, and underwriting processes conducted by professionals or experts in the respective industries. Manual rates consider a range of external and internal factors, enabling businesses to align their prices or premiums with desired profitability, risk management, and market competitiveness.
Overall, manual rates involve a more personalized and tailored approach to pricing or setting rates, enabling flexibility and consideration of specific circumstances and variables.
Common Misspellings for MANUAL RATES
- nanual rates
- kanual rates
- janual rates
- mznual rates
- msnual rates
- mwnual rates
- mqnual rates
- mabual rates
- mamual rates
- majual rates
- mahual rates
- manyal rates
- manhal rates
- manjal rates
- manial rates
- man8al rates
- man7al rates
- manuzl rates
- manusl rates
- manuwl rates
Etymology of MANUAL RATES
The word "manual rates" does not have a specific etymology as it is a combination of two separate words, "manual" and "rates".
"Manual" comes from the Latin word "manualis", which means "of or belonging to the hand". It refers to something done or operated by hand or physical effort.
"Rates" comes from the Latin word "ratus", which means "judged" or "considered". It refers to the fixed or established charge or price for a particular service or commodity.
When the two words are combined, "manual rates" generally refers to rates that are set or calculated manually, often by human hands, as opposed to automated or computer-generated rates.
Similar spelling word for MANUAL RATES
