IC45 GENERAL INSURANCE UNDERWRITING – 09

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Que. 1 : Q1) What is called as the process by which the
profitability of a portfolio is managed and the claims that take place are duly
examined for identifying the loss exposures and taking necessary correction for
implementation?

   1.  a) Reunderwriting [This is the Right
Answer]

   2.  b) Co-insurance

   3.  c) Warranty

   4.  d) Conditions

Que. 2 : Q2) In which of the following is the regulator NOT
concerned when considering products evaluation?

   1.  a) Definition of Products

   2.  b) Pricing

   3.  c) Resourcing of Underwriting Personnel
[This is the Right Answer]

   4.  d) Design of Product

Que. 3 : Q3) Warranties are special conditions based on the
statements made by the____________.

   1.  a) Insurer

   2.  b) Insured [This is the Right Answer]

   3.  c) Underwriter

   4.  d) Broker

Que. 4 : Q4) First loss policy is mainly used when total
loss is virtually impossible to occur. Say whether True of False.

   1.  a) True [This is the Right Answer]

   2.  b) False

   3.  

   4.  

Que. 5 : Q5) Which of the following is rule based
underwriter of products?

   1.  a) Individual experience rated products

   2.  b) Internal tariff rated products [This
is the Right Answer]

   3.  c) Exposure rated products

   4.  d) Packaged/customised products

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