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ABA CTFA Practice Test - Questions Answers, Page 81

List of questions

Question 801

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___________ is contractual right of recovery that entitles the insurer to any proceeds from the disposal of damaged property for which the claim has been made.

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Question 802

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Subrogation is:

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Question 803

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For purposes of establishing an appropriate financial statement reserve, the most important factors to consider are:

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Question 804

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What allows an entity to eliminate the reserve that was recorded for the claim, even if it exceeded the amount paid for the settlement?

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Question 805

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Changes in payment procedures or changes in the definition of payment date for coding purposes may or may not affect loss reserve developments.

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Question 806

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The sum of values assigned by claims adjusters to specific known claims that were recorded by the insurance entity but not yet paid at the financial statement date is called:

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Question 807

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The difference between the case-basis reserves and the estimated ultimate cost of such recorded claims is known as:

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Question 808

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Reduction for salvage is:

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Question 809

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The estimated amount receivable from third parties from whom the insured may have the right to recover damages is known as:

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Question 810

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Which of the following is NOT the date that is the key to classify the chronology of the data?

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