Processing Controls Are IT General Controls

question 40

True/False

Processing controls are IT general controls.

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Definitions:

Coinsurance Clause

A provision in an insurance policy that requires the insured to bear a portion of the costs of a claim, typically after the deductible has been met.

Premiums

Payments made regularly to an insurance company for coverage, often monthly or yearly.

Coinsurance Clause

A provision in an insurance policy that determines the percentage of the cost a policyholder is responsible for after the deductible is met.

Insurance Coverage

The amount and type of protection provided by an insurance policy against various risks or damages.