Uncollected Premiums

question 28

Multiple Choice

Uncollected premiums

• A) Are also an asset in statutory accounting
• B) Are usually those past the due date but in the grace period
• C) Accounting is similar to that for deferred premiums in that only the net premiums are necessary to match the reserve liability
• D) Only A and B

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Definitions:

Model Contribution

Refers to the impact or influence that a statistical model has in explaining the variability of the observed data.

Negative Correlation

Negative correlation indicates that as one variable increases, the other decreases, and vice versa, demonstrating an inverse relationship.

Null Hypotheses

A hypothesis that stipulates there is no statistical significance between the specified sets of data or that any observed differences are due to chance.

Independent Variable

The variable in an experiment or study that is manipulated to observe its effect on the dependent variable.