From the Standpoint of the Insurer,which of the Following Is

question 35

Multiple Choice

From the standpoint of the insurer,which of the following is a characteristic of an ideally insurable risk?

• A)The loss must be intentional.
• B)There must be a small number of unique loss exposures.
• C)The chance of loss must be calculable.
• D)The loss must be indeterminable.

Recognize the implications of selling receivables to a factor, including the treatment of service charges.

Grasp the concept of cash realizable value and its calculation in the context of receivables.

Understand how credit card sales are treated by retailers from an accounting perspective.

Differentiate between various methods used for estimating uncollectible accounts.

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Definitions:

Intramuscular Injection

A method of delivering medication deep into the muscles, allowing for faster absorption than subcutaneous injections.

Reflection

The process of serious thought or consideration.

Fist Fight

A form of physical altercation involving the use of fists to punch the opponent, typically occurring in impromptu or informal settings.

Manifestation

The display or exhibition of symptoms or signs of a disease, condition, or the existence of something, making it detectable.