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Category: IC45 GENERAL INSURANCE UNDERWRITING – 13

IC45 GENERAL INSURANCE UNDERWRITING – 13

Que. 1 : Q1) Which policy provides only coverage on losses incurred to property from perils or events named in the policy?

   1.  a) Multi Peril Cover

   2.  b) Named Peril Cover

   3.  c) All Risks cover

   4.  d) Special cover

Que. 2 : Q2) Which of the following is the correct way of revising policy wording?

   1.  a) Only by way of endorsements in the policy

   2.  b) Only by revising the entire policy wording

   3.  c) Either by way endorsements in the policy or by the revising the entire policywording

   4.  d) Neither of the above

Que. 3 : Q3) _______________ in simple terms is insurance. It is a mechanism used by insurers to spread risks in order to limit their exposure to claims which might arise on policies of insurance which they have issued.

   1.  a) Insurance

   2.  b) Reinsurance

   3.  c) Rate

   4.  d) Retention

Que. 4 : Q4) ____________ the review will be done by the regulator. In some cases the government also may intervene to make the rates acceptable to the public.

   1.  a) Internally

   2.  b) Externally

   3.  

   4.  

Que. 5 : Q5) Which form is a questionnaire to be completed and signed by the Principal/ Designated Officer furnishing the complete information of the product?

   1.  a) Form A

   2.  b) Form B

   3.  c) Form C

   4.  d) Form D