Que. 1 : Q1) Which is an automatic re-insurance facility which covers a portfolio of risks and it is an obligatory arrangement between an Insurance Company and Reinsurance Company?
1. a) Facultative Reinsurance
2. b) Proportional Reinsurance
3. c) Non-Proportional Reinsurance
4. d) Treaty Reinsurance
Que. 2 : Q2) Which of the following is incorrect with respect to reinsurance premium?
1. a) The reinsurance premium paid by the ceding insurer to the insurer(s) is a percentage of the original premium paid by the insured
2. b) The percentage paid to the reinsurer(s) is the same as the percentage of the sum insured ceded by the ceding insurer.
3. c) The premiums for any risk excluded from the treaty and return premiums due under cancelled policies are not included in the reinsurance premium.
4. d) Commissions paid by the ceding insurer to against and brokers are deducted from the reinsurance premium
Que. 3 : Q3) Which of the following compaines become Indian reinsurer after nationalisation?
1. a) GIC
2. b) National insurance Co.Ltd
3. c) The new Indian Assurance Co Ltd
4. d) The Oriental Fire and General Insurance Co. Ltd
Que. 4 : Q4) What is the name given for a verifiable claim made against a specific policy of the cedent by a policyholder or a third party?
1. a) Reported claim.
2. b) Recognised claim.
3. c) Precautionary claim.
4. d) Denied claim.
Que. 5 : Q5) The Manager of Re-insurance pool for terrorism risk is from
1. a) GIC
2. b) IRDA
3. c) General Insurance Council
4. d) None of the above