Question

What are the two main sets of reserves in insurance?

a.

Claims and liabilities

b.

Premium and investments

c.

Premium and claims

d.

Assets and liabilities

Answer: (c).Premium and claims Explanation:The two main sets of reserves in insurance are premium reserves (including unearned premium and unexpired risk) and claims reserves (including open claims reserve and IBNR).

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. What are the two main sets of reserves in insurance?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 14 Regulations of Insurance Business? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!