Que. 1 : Q1) How many months usually a Insurance company allow grace period for payment of premium from due date. 1. a) 1 months 2. b) 2 month 3. c) 3 month 4. d) 4 month Que. 2 : Q2) _____________ is the insurance company that accepts the transfer of risk from the ceding company. 1. a) Reinsurance 2. b) Cede 3. c)…