Reasons for the Unearned Premium Reserve Include Which of the Following

question 21

Multiple Choice

Reasons for the unearned premium reserve include which of the following?
I.To pay losses that occur during the policy period.
II.To pay premium refunds to policyholders in the event of cancellation.

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

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Definitions:

Managerial Tasks

Activities or duties that a manager is responsible for, aiming at achieving organizational objectives.

Organizational Synergy

The increased efficiency or performance that results when individuals or groups work together effectively within an organization.

Cultural Differences

Variations in the norms, values, beliefs, and practices among different cultures or societies.

Information Technologies

Refers to the use of computers and telecommunications equipment to store, retrieve, transmit, and manipulate data, often in the context of a business or other enterprise.