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Category: IC45 GENERAL INSURANCE UNDERWRITING – 10

IC45 GENERAL INSURANCE UNDERWRITING – 10

Que. 1 : Q1) ______________ use past experience so as to determine the costs of coverage foe the future.

   1.  a) Prospective system

   2.  b) Retrospective syatem

   3.  c) Both the above

   4.  d) Neither of the above

Que. 2 : Q2) Proposal form is very important document for

   1.  a) Insurer

   2.  b) Proposer

   3.  c) Both of them

   4.  d) None of them

Que. 3 : Q3) In claims where a surveyor has to be appointed, it shall be so done within_________of the receipt of intimation from the insured.

   1.  a) 24 hours

   2.  b) 48 hours

   3.  c) 72 hours

   4.  d) 96 hours

Que. 4 : Q4) Which method is the method for projecting unpaid and unreported losses to their ultimate settlement values?

   1.  a) Pure Premium method

   2.  b) Loss development method

   3.  c) Loss Ratio method

   4.  d) None of these

Que. 5 : Q5) Under which process a completed proposal form gives details of insured and subject mater, type of cover required, details of physical features, previous insurance, claims history?

   1.  a) Underwriting skills

   2.  b) Scrutiny of the proposal

   3.  c) Underwriting of new business

   4.  d) Classification of Underwriting of risks