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Que. 1 : Q1) An insurance company sells 1000 policies and it expects 5 claims. The total amount of claims is Rs. 2,50,000/-. If the period of cover is one year and if the company wants its total outgo, what premium should the company charge from each of those 1000 policyholders?

   1.  a) Rs. 250/-

   2.  b) Rs. 500/-

   3.  c) Rs. 100/-

   4.  d) Rs. 2500/-

Que. 2 : Q2) What is the measure of the number of deaths in a population, scaled to the size of that population, per unit of time?

   1.  a) Mortality rate

   2.  b) Morbidity rate

   3.  c) Interest risk

   4.  d) None of these

Que. 3 : Q3) Which is the rate that would be earned on investments in future and also the rate that would be earned on re-investment?

   1.  a) Premiums

   2.  b) Interest rate

   3.  c) Alterations

   4.  d) Fixed bonus

Que. 4 : Q4) Which of the following are factors affecting the expected volume of business are

   1.  a) Competitor’s rates

   2.  b) Availability of similar products

   3.  c) Age and income profile of people

   4.  d) All of the above

Que. 5 : Q5) Which of the following factors would be considered in choosing expense assumption?

   1.  a) Extent of expense risk

   2.  b) Support from consultants

   3.  c) Competitors rates

   4.  d) All of the above