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Category: IC92 ACTUARIAL ASPECTS – 04

IC92 ACTUARIAL ASPECTS – 04

Que. 1 : Q1) Stamp duty and litigation costs comes under which expenses?

   1.  a) Administrative expenses

   2.  b) Underwriting expenses

   3.  c) Administrative expenses

   4.  d) Legal expenses

Que. 2 : Q2) What means an amount of benefit payable on a specified event offered under the rider, and is allowed as add-on benefit to main benefit?

   1.  a) Net Asset value

   2.  b) Partial withdrawals

   3.  c) Maturity benefit

   4.  d) Rider benefits

Que. 3 : Q3) In which of the following cases will the commission rate be lower?

   1.  a) First year commissiom

   2.  b) Products with complex terms and conditions

   3.  c) Renewal commission

   4.  d) If competitors’ commission rates are high

Que. 4 : Q4) __________ means non linked insurance products where the premium payment is throughout the term of the product and a re paid in regular intervals like yearly, half-yearly, etc.,

   1.  a) Rider benefits

   2.  b) Regular premium products

   3.  c) Revival of the policy

   4.  d) Net Asset Value

Que. 5 : Q5) In which arrangement, a specified percentage of each policy is reinsured?

   1.  a) Quota share arrangement

   2.  b) Surplus arrangement

   3.  c) Financial reinsurance

   4.  d) Facultative arrangement