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1. When should a new policy / policy change be recorded if it has been booked / processed but the change does not become effective until the future? What if it is effective retro-actively?
2. How should a policy that is cancelled and then reinstated in the same month be recorded? What if it was reinstated in a following month?
3. Should a lapse be recorded as a cancellation?
4. What should be recorded under “total policies in force”?