S1: The straight-line method computes the unearned premiums, policy by policy, on a pro-rata basis in respect of the unexpired periods of the respective insurance policies at the end of each period. S2: PFRS 17 exempts an insurer temporarily from some requirements of other PFRS in selecting accounting policies for insurance contract for liability adequacy test. S3: Insurers shall disclose the following information that identifies and explains the amounts in its financial statements arising from insurance contract which includes its accounting policies for insurance contract and related assets, liabilities, income and expenses. a. Only S3 is incorrect b. All statements are correct c. Only S2 is correct d. Only S3 is correct e. Only S1 is incorrect f. Only S2 is incorrect g. All statements are incorrect h. Only S1 is correct
S1: The straight-line method computes the unearned premiums, policy by policy, on a pro-rata basis in respect of the unexpired periods of the respective insurance policies at the end of each period.
S2: PFRS 17 exempts an insurer temporarily from some requirements of other PFRS in selecting accounting policies for insurance contract for liability adequacy test.
S3: Insurers shall disclose the following information that identifies and explains the amounts in its financial statements arising from insurance contract which includes its accounting policies for insurance contract and related assets, liabilities, income and expenses.
a. Only S3 is incorrect
b. All statements are correct
c. Only S2 is correct
d. Only S3 is correct
e. Only S1 is incorrect
f. Only S2 is incorrect
g. All statements are incorrect
h. Only S1 is correct
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