Which of the Following Statements About Methods for Estimating Loss

question 1

Multiple Choice

Which of the following statements about methods for estimating loss reserves for property and casualty insurers is (are) true?
I.The judgment method involves the use of a statutory formula to estimate the loss reserve.
II.The average value method is used when the number of claims is large and the claims are settled quickly.

• A) I only
• B) II only
• C) both I and II
• D) neither I nor II

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Definitions:

Double Helix

The structure of DNA, characterized by two strands coiled around each other, forming a shape similar to a twisted ladder, responsible for genetic inheritance.

Chorionic Villus Sampling

A prenatal test that involves taking a sample of the chorionic villi cells from the placenta to test for genetic abnormalities in the fetus.

Amniotic Sac

A fluid-filled sac that surrounds and protects the embryo or fetus in the uterus.

Double Helix

The structure formed by double-stranded molecules of nucleic acids such as DNA, characterized by a twisted ladder-like appearance.