Which statement correctly describes when written premium is recorded and the exception for this rule?

Which statement correctly describes when written premium is recorded and the exception for this rule?

• A. Written premium is recorded on the effective date; exception: WC can be recorded on an installment basis
• B. Written premium is recorded on the end of the policy period; exception: WC is always upfront
• C. Written premium is recorded on the endorsement date; exception: none
• D. Written premium is recorded on the policy issue date; exception: WC cannot be installment

Answer: (A)