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Category: IC45 GENERAL INSURANCE UNDERWRITING – 05

IC45 GENERAL INSURANCE UNDERWRITING – 05

Que. 1 : Q1) Which of the following comes under Personal and Commercial Lines Underwriters?

   1.  a) Marine Underwriters

   2.  b) Motor underwriters

   3.  c) Cargo underwriters

   4.  d) Group Underwriters

Que. 2 : Q2) Protection of Policyholder’s Interests Regulations,__

   1.  a) 2001

   2.  b) 2002

   3.  c) 2003

   4.  d) 2004

Que. 3 : Q3) What refers to the process of determining the rate that can be changed by an insurance company for providing insurance cover to policyholders?

   1.  a) ReInsurance

   2.  b) Insurance pricing

   3.  c) Pure premium

   4.  d) Link ratio

Que. 4 : Q4) In a certain state, all insurance rates must be approved by the state insurance department before the rates can be used. This type of rating law is called:

   1.  a) File-and-use

   2.  b) No-filing required

   3.  c) Flex-rating

   4.  d) Prior=approval

Que. 5 : Q5) Underwriter would be expected to visualise potential risks and estimate probability of peril operation, extent of liability and claims processing implications. It refers to

   1.  a) Underwriting of new business

   2.  b) Underwriting skills

   3.  c) Scrutiny of the proposal

   4.  d) Underwriting of risks