Which of the following statements about methods for estimating loss reserves for property and casualty insurers is (are) true?
I. The judgment method involves the use of a statutory formula to estimate the loss reserve.
II. The average value method is used when the number of claims is large and the claims are settled quickly.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: B
Business
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a. manufacturing overhead. b. indirect materials. c. indirect labor. d. direct labor.
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Which of the following replaced the General Agreement on Tariffs and Trade (GATT)?
A) the World Bank B) the World Trade Organization C) the International Monetary Fund D) the North American Free Trade Agreement
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