Que. 1 : Q1) What is called as the process by which the profitability of a portfolio is managed and the claims that take place are duly examined for identifying the loss exposures and taking necessary correction for implementation?
1. a) Reunderwriting
2. b) Co-insurance
3. c) Warranty
4. d) Conditions
Que. 2 : Q2) In which of the following is the regulator NOT concerned when considering products evaluation?
1. a) Definition of Products
2. b) Pricing
3. c) Resourcing of Underwriting Personnel
4. d) Design of Product
Que. 3 : Q3) Warranties are special conditions based on the statements made by the____________.
1. a) Insurer
2. b) Insured
3. c) Underwriter
4. d) Broker
Que. 4 : Q4) First loss policy is mainly used when total loss is virtually impossible to occur. Say whether True of False.
1. a) True
2. b) False
Que. 5 : Q5) Which of the following is rule based underwriter of products?
1. a) Individual experience rated products
2. b) Internal tariff rated products
3. c) Exposure rated products
4. d) Packaged/customised products