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An estimate due to time lags in the receipt of reports from cendants is called reinsurance.

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Correct Answer for the Question – An estimate due to time lags in the receipt of reports from cendants is called reinsurance. is given below An estimate due to time lags in the receipt of reports from cendants is called reinsurance. TRUE FALSE Correct Answer The Correct Answer for this Question is TRUE Explanation The Question … Read more

Fidelity bonds cover employees against dishonest acts by employees.

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Correct Answer for the Question – Fidelity bonds cover employees against dishonest acts by employees. is given below Fidelity bonds cover employees against dishonest acts by employees. TRUE FALSE Correct Answer The Correct Answer for this Question is TRUE Explanation The Question – Fidelity bonds cover employees against dishonest acts by employees. has been answered correctly … Read more

Which the risk is transferred is called the assuming entity.

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Correct Answer for the Question – Which the risk is transferred is called the assuming entity. is given below The entity transferring the risk is called the ceding entity and the entity to which the risk is transferred is called the assuming entity. TRUE FALSE Correct Answer The Correct Answer for this Question is TRUE Explanation … Read more

The SEC rules clarify that management’s assessment and report is limited to internal control over financial reporting.

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Correct Answer for the Question – The SEC rules clarify that management’s assessment and report is limited to internal control over financial reporting. is given below The SEC rules clarify that management’s assessment and report is limited to internal control over financial reporting. TRUE FALSE Correct Answer The Correct Answer for this Question is TRUE Explanation … Read more

The operating ratio is the combined ratio less than the ratio of investment income, to earned premiums.

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Correct Answer for the Question – The operating ratio is the combined ratio less than the ratio of investment income, to earned premiums. is given below The operating ratio is the combined ratio less than the ratio of investment income, to earned premiums. TRUE FALSE Correct Answer The Correct Answer for this Question is TRUE Explanation … Read more

Insurance agents act as contractors in groups who express one or more entity with express authority to act for the entity in dealing with insured.

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Correct Answer for the Question – Insurance agents act as contractors in groups who express one or more entity with express authority to act for the entity in dealing with insured. is given below Insurance agents act as contractors in groups who express one or more entity with express authority to act for the entity in … Read more

SAP stresses measurement of emerging earnings of a business from period to period while GAAP stresses measurement of the ability to pay claims in the future.

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Correct Answer for the Question – SAP stresses measurement of emerging earnings of a business from period to period while GAAP stresses measurement of the ability to pay claims in the future. is given below SAP stresses measurement of emerging earnings of a business from period to period while GAAP stresses measurement of the ability to … Read more

When it is obtained from knowledgeable independent sources inside the entity.

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Correct Answer for the Question – When it is obtained from knowledgeable independent sources inside the entity. is given below Audit regulatory is more reliable when it is obtained from knowledgeable independent sources inside the entity. TRUE FALSE Correct Answer The Correct Answer for this Question is FALSE Explanation The Question – When it is obtained … Read more

Short-duration contracts provide insurance protection for fixed period and can cancel the contract at the end of any contract period.

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Correct Answer for the Question – Short-duration contracts provide insurance protection for fixed period and can cancel the contract at the end of any contract period. is given below Short-duration contracts provide insurance protection for fixed period and can cancel the contract at the end of any contract period. TRUE FALSE Correct Answer The Correct Answer … Read more