An Insurance Company Assigns More Complex Loss Cases to A

question 40

Multiple Choice

An insurance company assigns more complex loss cases to a:

• A)captive insurance agent.
• B)claims adjustor.
• C)Chartered Property and Casualty Underwriter.
• D)Certified Insurance Counselor.
• E)court investigator.

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Definitions:

Payroll Tax Expense

Levies placed on both employers and employees, determined based on a percentage of the wages that employers distribute to their workforce.

FICA Taxes Payable

Taxes owed for Federal Insurance Contributions Act, primarily for Social Security and Medicare, withheld from employees' paychecks.

Employer's Payroll Taxes

These are taxes that employers are required to pay on behalf of their employees, including Social Security and Medicare taxes in the United States.

Pension Rights

The entitlements employees earn towards future pension benefits as a result of their employment.