Which of the Following Statements Is True

question 58

Multiple Choice

Which of the following statements is true?

• A)Long-tail loss refers to a series of claims made after an initial claim has been made.
• B)Long-tail loss refers to a claim that is made some time after a policy was written.
• C)Short-tail loss refers to a series of claims made after an initial claim has been made.
• D)Short-tail loss refers to a claim that is made some time after a policy was written.

---

Definitions:

Decision Making

The cognitive process of selecting a course of action from multiple alternatives to achieve a desired goal.

Labor Relations

The ongoing relationship and interactions between employers and their workforce, often in the context of unions and collective bargaining.

Wages

Financial compensation paid by employers to employees for their labor, typically calculated by hour or piece rate.

Work Rules

Guidelines and regulations established by an employer to define acceptable behavior and ensure an orderly work environment.