Which of the following is NOT a type of policy transaction?

In the context of policy transactions in Guidewire PolicyCenter, a transaction typically represents an action taken on a policy, reflecting changes in its status over its lifecycle. Therefore, the option referring to "Expired" is the correct answer as it is not classified as a type of policy transaction.

Submissions, cancellations, and reinstatements are all active types of transactions that directly change the status of a policy. A submission is the initial stage where potential coverage details are provided. Cancellations occur when a policyholder or insurer decides to terminate an existing policy before its renewal date. Reinstatements apply when a previously canceled policy is restored to active status.

On the other hand, "Expired" indicates a policy that has reached the end of its effective period without being renewed or extended. While an expired policy indicates a status, it does not represent a transaction that actively modifies the policy state. Rather, it reflects a static state of the policy after all transactions have been completed. Thus, "Expired" is appropriately identified as NOT a type of policy transaction.