Which of the following transactions modifies an existing PolicyPeriod in BillingCenter?

Which of the following transactions modifies an existing PolicyPeriod in BillingCenter?

• A. Change, Reinstate, and Rewrite.
• B. Change, Renew, and Closure.
• C. Change, Reinstate, and Cancellation.
• D. Change, Renewal, and Rewrite.

Answer: (C)

The correct choice is based on the nature of the transactions that modify an existing PolicyPeriod within the BillingCenter system. A Change transaction typically updates specific details of the policy, such as coverage or limits, directly impacting the current PolicyPeriod. Reinstate actions restore a PolicyPeriod that might have been canceled, bringing it back into effect without creating a new period. Cancellation, while it appears to be an ending action, also modifies the existing PolicyPeriod by officially terminating it, rather than creating a new one. This combination of transactions—Change, Reinstate, and Cancellation—clearly shows how they directly affect and modify the attributes of an existing PolicyPeriod, rather than starting new periods or defining outcomes for future coverage, which can be the focus of other options. The other alternatives may involve transactions that lead to new PolicyPeriods or changes that do not solely focus on existing periods.

The correct choice is based on the nature of the transactions that modify an existing PolicyPeriod within the BillingCenter system.

A Change transaction typically updates specific details of the policy, such as coverage or limits, directly impacting the current PolicyPeriod. Reinstate actions restore a PolicyPeriod that might have been canceled, bringing it back into effect without creating a new period. Cancellation, while it appears to be an ending action, also modifies the existing PolicyPeriod by officially terminating it, rather than creating a new one.

This combination of transactions—Change, Reinstate, and Cancellation—clearly shows how they directly affect and modify the attributes of an existing PolicyPeriod, rather than starting new periods or defining outcomes for future coverage, which can be the focus of other options. The other alternatives may involve transactions that lead to new PolicyPeriods or changes that do not solely focus on existing periods.