Assume that the insurer can NOT distinguish between the two types of consumers

100 pts
Full Marks
98-100 Points. All relevant concepts are accurately explained, answers are supported with sound logic based on what have been taught in class; the writing is polished, succinct and error free; and all relevant calculations, including specific steps, are done correctly and shown.

97 pts
Very Good
91-97 Points. All relevant concepts are generally explained in correct ways; answers are supported with somewhat reasonable logic based on what have been taught in class; the answers are well written; and all relevant calculations, including specific steps, are mostly correct.

90 pts
Good
81-90 Points. All relevant concepts are explained, with some minor mistakes, answers are supported with logic based on what have been taught in class, but there may be some minor flaws in the arguments; the answers are generally well written; and the relevant calculations, including specific steps, are with some mistakes.

80 pts
Average
71-80 Points. Some important relevant concepts are not explained, or are explained with major mistakes, answers are not well supported with logic based on what have been taught in class; the answers are complete, but not well written; and the relevant calculations, including specific steps, are partly missing or with major mistakes.

70 pts
Below Average
60-70 Points The assignment demonstrates some level of effort and understanding of the material, but has major issues in explanations, writing, and calculations.

0 pts
Poor
0-59 Points. The assignment demonstrates a general lack of effort (e.g. with sections missing or incomplete) or a general lack of understanding of the material (e.g. not answering the questions, providing irrelevant calculations).