Insurers Obtain Data Which Can Be Used to Determine Rates

question 49

Multiple Choice

Insurers obtain data which can be used to determine rates from

• A)pricing pools.
• B)insurance advisory organizations.
• C)banks.
• D)reciprocal exchanges.

Recognize the difference between the date of declaration, record, and payment of dividends.

Analyze the financial rationale behind declaring stock or cash dividends.

Identify various diagnostic tests and their purposes in medical practice.

Understand the referral process to medical specialists based on patient symptoms and conditions.

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Definitions:

Maker

An individual or entity that creates or issues a financial instrument, such as a check or note, thereby promising to pay the amount stated.

Direct Write-Off Method

An accounting method where uncollectible receivables are directly written off against income at the time they are deemed unrecoverable.

Allowance Method

An accounting technique used to anticipate and adjust for potential uncollectible accounts receivable.

Uncollectible

Accounts receivable that are considered unlikely to be recovered and may be written off as a bad debt expense.