Unclosed business can be described as:
A) A business that has been rendered inoperable but is covered by a general insurance contract and will be restored.
B) A situation where an insurer has agreed to accept the risk before the appropriate policy contract has been completed.
C) Business written close to balance date where the attachment date is post balance date.
D) A situation where the unearned portion of the premium needs to be estimated to be included in premium revenue.
E) None of the given answers.
Correct Answer:
Verified
Q21: The treatment of deferred acquisition costs is
Q22: Payments made on claims should be:
A) Always
Q23: Items to be disclosed under AASB 1023
Q24: Government charges should be included as part
Q25: What is an example of deferred acquisition
Q27: Hazard Ltd writes insurance policies to cover
Q28: Danger Ltd writes insurance policies to cover
Q29: The superseded version of AASB 1023 required
Q30: Where an insurer reinsures some or its
Q31: The disclosures required in AASB 1023 in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents