Que. 1 : Q1) What do ‘Reserves’ refer to in insurance accounting ? 1. a) Estimate for future liabilities 2. b) Funds for future expansions 3. c) Funds available for investments 4. d) Invested funds Que. 2 : Q2) Which of the below statement is correct with regards to a householders insurance policy? 1. a) A named peril policy may be purchased…