Answer the following problems related to insurance and reinsurance business. Write your answers on the space provided. 1. An annual policy is written on Oct. 1, 2017, for a premium of P1,200 and renewed one year later for a premium of P1,400. Compute the following: a. Unearned premium reserve (24" method) on Dec. 31, 2018 b. Earned premium for 2018 2. An annual term P6,000 premium policy is sold on March 1, 2019, becomes effective on May 1, 2019 and incurs no losses. Using the 24"h method, compute the ending earned premium by interval and unearned premium at four valuation dates: a. Earned premium for first quarter 2019; unearned premiums at March 31, 2019. b. Earned premium for second quarter 2019; unearned premiums at June 30, 2019. c. Earned premium for third quarter 2019; unearned premiums at Sept. 30, 2019. d. Earned premium for full year 2019; unearned premiums at Dec. 31, 2019. 3. Reinsurance. Assume the TZY Insurance Inc. has (and has historically maintained) a 20% quota share* ceded reinsurance contract for all direct insurance, with a ceding commission of 30% (percentage of the ceded written premium). Assume the loss ratio on direct business is 65%, and the only direct expense is a 30% commission. Thedirect earned premium for the year is PI, 100,000 and the direct loss reserve at year-end is P800,000. With this limited information, compute the following: a. Net Earned Premium b. Net Incurred Losses c. Ceded Commissions d. Net underwriting income e. Net Loss Reserve