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Category: IC45 GENERAL INSURANCE UNDERWRITING – 15

IC45 GENERAL INSURANCE UNDERWRITING – 15

Que. 1 : Q1) ____________ is a key differentiator enabling the insurer to stay competitive, and at the same time be solvent and profitable.

   1.  a) Risk

   2.  b) Underwriting

   3.  c) Insurance

   4.  d) Rates

Que. 2 : Q2) Any communication received from a policyholder shall be responded to within _____________ of its receipt.

   1.  a) 10 days

   2.  b) 15 days

   3.  c) 30 days

   4.  d) 45 days

Que. 3 : Q3) Which of the following is correct?

   1.  a) Gross premium = Risk premium + Load

   2.  b) Net premium = Pure risk premium + Load

   3.  c) Gross premium = Pure risk premium + Load

   4.  d) Net premium = Pure risk premium + Load

Que. 4 : Q4) Which rate will be rated as per an internal manual or guidelines prepared by the insurer for risks of the same class or category?

   1.  a) Individual rating

   2.  b) Generic rating

   3.  c) Loss method rating

   4.  d) Pure rating

Que. 5 : Q5) In which analysis claim database need to be analysed as to whether there is a pattern in the losses?

   1.  a) Loss cause analysis

   2.  b) Claims analysis

   3.  c) Underwriting analysis

   4.  d) None of these