SOFA-CFE · Question #253
The origin period for a claim is the period when the claim department first learns of the claim.
The correct answer is A. True. A is correct because in insurance claims management, the "origin period" (sometimes called the "report period") is defined as the period in which the claim is first reported to or first known by the claim department - not when the loss occurred, not when it was investigated…
Question
The origin period for a claim is the period when the claim department first learns of the claim.
Options
- ATrue
- Bfalse
How the community answered
(25 responses)- A80% (20)
- B20% (5)
Explanation
A is correct because in insurance claims management, the "origin period" (sometimes called the "report period") is defined as the period in which the claim is first reported to or first known by the claim department - not when the loss occurred, not when it was investigated, and not when it was paid.
Why B is wrong: There is no valid alternative definition here; this is a straightforward definitional statement that accurately reflects standard insurance terminology, so "False" is simply incorrect.
Memory tip: Think of "origin" as where something originates in the insurer's awareness - the moment the claim department first hears about it. Contrast it with the "accident period" (when the loss happened) and the "payment period" (when money goes out) to keep the three concepts distinct on exam day.
Community Discussion
No community discussion yet for this question.