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Category: IC23 APPLICATIONS OF LIFE INSURANCE – 01

IC23 APPLICATIONS OF LIFE INSURANCE – 01

Que. 1 : Q1) A _________ is equal to the ceding company’s retention.

   1.  a) Circle

   2.  b) Bar

   3.  c) Line

   4.  d) None of these

Que. 2 : Q2) Which type of insurances covered within the scope of the treaty must be enumerated one by one and the underwriting material forms an integral part of the treaty?

   1.  a) Property reinsurance

   2.  b) Engineering reinsurance

   3.  c) Fire reinsurance

   4.  d) Accident/ liability reinsurance

Que. 3 : Q3) The ________ is based on the individual’s desires and the best possible solution to particular circumstances.

   1.  a) Risk

   2.  b) Salvage

   3.  c) Financial plan

   4.  d) None of these

Que. 4 : Q4) Which Reinsurance is the opposite of facultative reinsurance and it is preferred when groups of homogeneous risks are considered and reinsurer will accept part or all of a ceding company’s responsibility for certain sections or classes of business in accordance with the terms of the policy?

   1.  a) Non-proportional reinsurance

   2.  b) Proportional reinsurance

   3.  c) Treaty reinsurance

   4.  d) Facultative reinsurance

Que. 5 : Q5) Health Maintenance Organisation came into being as result of an Act passed by the Congress in ______.

   1.  a) 1963

   2.  b) 1973

   3.  c) 1983

   4.  d) 1993