SOFE
SOFA-CFE · Question #284
SOFA-CFE Question #284: Real Exam Question with Answer & Explanation
The correct answer is C. Account current. See the full explanation below for the reasoning.
Question
What billing occurs where the agent renders a statement to the insurer reflecting premiums which are owed to the insurer, less the agent's commission, and subsequently remits payment to the insurer in accordance with the agreed credit terms?
Options
- ADirect
- BPremium financing
- CAccount current
- DStatement
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