IC46 GENERAL INSURANCE ACCOUNTS PREPARATION – 17

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Que. 1 : Q1) Ind AS 34 notified by MCA deals with:

   1.  a) Separate Financial Statements

   2.  b) Interim Financial Reporting

   3.  c) Borrowing Costs

   4.  d) Impairment of Assets

Que. 2 : Q2) From the above date, compute the following
accounting ratios for analysis of financial statements vis-a-vis performance
analysis for 2005-06 ABC General insurance company. Calculate Gross Premium to
Shareholders’ Funds.

   1.  a) 80.25%

   2.  b) 88.35%

   3.  c) 96.45%

   4.  d) 103.00%

Que. 3 : Q3) Which is the one whereby the reinsurer receives
a predetermined proportion or share of the premium and pays the same proportion
or share of loss?

   1.  a) Facultative Reinsurance

   2.  b) Treaty Reinsurance

   3.  c) Proportional Treaty Reinsurance

   4.  d) Non-Proportional Treaty Reinsurance

Que. 4 : Q4) At every annual general meeting the financial
statements are presented to the shareholders by the:

   1.  a) Statutory Auditors

   2.  b) Internal Auditors

   3.  c) Company Secretary

   4.  d) Board of Directors

Que. 5 : Q5) The last stage of final accounts is the balance
sheet. Say whether True or False.

   1.  a) True

   2.  b) False

   3.  

   4.  

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