Final answer:
The reserve would not include only claims that occurred in the year 2011.
Step-by-step explanation:
The subject of this question is Business and the grade level is High School.
The statement is False. If the valuation date of a reserve is 12/01/2011, it means that the reserve is being valued on that specific date. Therefore, it would include all claims up until that date, not only the claims that occurred in the year 2011. Claims that occurred before 12/01/2011 would also be included in the reserve.
For example, if there was a claim in 2010 that was still pending on 12/01/2011, it would be included in the reserve even though it did not occur in 2011.