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
1. a) Reunderwriting [This is the Right
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
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