Learning Outcome 6 Understand the main practices of insurance company accounts– Chapters 7 and 8 Flashcards
1
Q
What tables must be included in an insurance company's accounts under IFRS4? A. Claims development tables B. Actuarial development tables C. Business development tables D. FRS tables
A
A. Claims development tables
2
Q
FCAG stands for:
A. Financial Consolidation Advisory Group
B, Financial Corporate Accounting Group
C. Financial Crisis Advisory Group
D. Financial Crisis Accounting Group
A
C. Financial Crisis Advisory Group
3
Q
Which claims methodology is a combination of two of the other claims reserving methodologies? A. Projection of paid claims B. Projection of incurred claims C. Bornhuetter Ferguson D. Loss ratio method
A
C. Bornhuetter Ferguson
