Find out which of the given statements is incorrect

Question

Question: Find out which of the given statements is incorrect

Options:

1.  Accounts department has to monitor cash flow from subordinate offices
2.  Marketing department has to monitor business inflow
3.  Marketing department has to monitor performance of agents
4.  Actuarial department is responsible for settling death claims
5.  Underwriting department has to assess risk and determine premium

Answer 1

4. Actuarial department is responsible for settling death claims

This is incorrect, "Actuarial department is responsible for settling death claims". Actuarial department is not responsible for settling death claims.

Actuarial department is responsible for analysing financial risks by implementing statistical, financial and mathematical theories.

They analyze the financial costs of risk and uncertainty and help businesses and clients develop policies that minimize the cost of that risk. They're expected to make a reasonable forecast of the future liabilities of policies.