Are policy-driven rates automatically open or closed based on policy?

Policy-driven rates are automatically managed, meaning they adjust based on predetermined policies without requiring manual intervention. This automated management allows for more efficient rate adjustments in response to specified criteria or triggers established within the policy framework. It ensures that the organization can consistently apply these rates according to the guidelines set forth, maintaining adherence to the policy objectives.

In contrast, other options suggest scenarios where manual adjustments or fixed rates apply, which would not align with the concept of automatic rate management. The essence of policy-driven rates is their ability to dynamically respond to the set parameters, streamlining operations and minimizing the potential for human error in the adjustment process.