IC11 PRACTICE OF GENERAL INSURANCE EXAM - 07

Q1.All insurers have to prepare what type of account?
Cashbook
 Balance sheet
 Income & Expense statement
 Company register
 Reconciliation statement
 
Q2.Regulatory Issue is an example of __ risk.
 Operational
 Strategic
 Compliance
Financial
 Knowledge management
 
Q3.The insurance of which companies is dealt mainly by State Insurance Funds?
 Private companies in a particular State
State Government-owned companies
 Unlisted State companies
Local Government-owned companies
Multi-National owned companies
 
Q4.Motor insurance policy for private or commercial vehicles is also known as __.
 Vehicle Damage policy
 Liability only policy
 Declaration policy
 Floating policy
 Accident policy
 
Q 5.Settlement of claims is an important function of which organization?
 Mutual Fund organization
 Insurance organization
 NGO's
 Service organization
 Govt. organization
 
Q6.___ are large losses that may occur on rare occasions but have a devastating effect on an organization.
 Catastrophes
 Speculative
 Chronic
Fundamental
 Dynamic
 
Q7.The information which is obtained from the proposal form, the details of risk inspection, etc are fed into the computers. This procedure is called ___.
 Policy Procedure
 Duty Procedure
 Agreement Procedure
 Documentation Procedure
 Implementation Procedure
 
Q8.Where are the accounting transactions posted?
 Balance Sheet
Cashbook
Daybook
 Subsidiary book
 Account book
 
Q9.The provision of percentage in investment in an approved investment like infrastructure and the social sector should not be less than ___.
 5
 10
 15
 20
 25
 
Q10.Whose responsibility is to collect detailed information of client's business?
 Sales agent
 Insurers
 Direct brokers
 Underwriters
 Business agents

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