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SOFA-CFE · Question #32
SOFA-CFE Question #32: Real Exam Question with Answer & Explanation
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Question
Which of the following is the correct formula to calculate the unearned premium?
Options
- AUnearned premium = (Policy premium x Unexpired coverage days) / Total number of days in the
- BUnearned premium = (Interest premium x expired coverage days) / Total number of days in the
- CUnearned premium = (Insurance contracts x Reserve coverage days) / Total number of days in the
- DUnearned premium = (Overhead premium x Unexpired coverage days) / Total number of days in
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