IC11 PRACTICE OF GENERAL INSURANCE EXAM - 07
| Q1.All insurers have to prepare what type of account? |
| Cashbook |
| Balance sheet |
| Income & Expense statement |
| Company register |
| Reconciliation statement |
| Q2.Regulatory Issue is an example of __ risk. |
| Operational |
| Strategic |
| Compliance |
| Financial |
| Knowledge management |
| Q3.The insurance of which companies is dealt mainly by State Insurance Funds? |
| Private companies in a particular State |
| State Government-owned companies |
| Unlisted State companies |
| Local Government-owned companies |
| Multi-National owned companies |
| Q4.Motor insurance policy for private or commercial vehicles is also known as __. |
| Vehicle Damage policy |
| Liability only policy |
| Declaration policy |
| Floating policy |
| Accident policy |
| Q 5.Settlement of claims is an important function of which organization? |
| Mutual Fund organization |
| Insurance organization |
| NGO's |
| Service organization |
| Govt. organization |
| Q6.___ are large losses that may occur on rare occasions but have a devastating effect on an organization. |
| Catastrophes |
| Speculative |
| Chronic |
| Fundamental |
| Dynamic |
| Q7.The information which is obtained from the proposal form, the details of risk inspection, etc are fed into the computers. This procedure is called ___. |
| Policy Procedure |
| Duty Procedure |
| Agreement Procedure |
| Documentation Procedure |
| Implementation Procedure |
| Q8.Where are the accounting transactions posted? |
| Balance Sheet |
| Cashbook |
| Daybook |
| Subsidiary book |
| Account book |
| Q9.The provision of percentage in investment in an approved investment like infrastructure and the social sector should not be less than ___. |
| 5 |
| 10 |
| 15 |
| 20 |
| 25 |
| Q10.Whose responsibility is to collect detailed information of client's business? |
| Sales agent |
| Insurers |
| Direct brokers |
| Underwriters |
| Business agents |