IC45 GENERAL INSURANCE UNDERWRITING - 14
Que. 1 : Q1) Form A is a questionnaire to be completed and signed by the _________ furnishing the complete information of the product.
1. a) Principal
2. b) Designated Officer
3. c) Agent
4. d) Either a or b C
Que. 2 : Q2) Which of the following is not correct about Pure Premium Method?
1. a) It is based on exposure
2. b) It does not require existing rates
3. c) It requires existing rates
4. d) It gives indicated rates
Que. 3 : Q3) The underlying principle of___________ is that in a group, only few individuals (and not all) would sustain due to the occurrence of an uncertain event.
1. a) Law of large numbers
2. b) Underwriting
3. c) Risk transfer
4. d) Broking
Que. 4 : Q4) Which of the following comes under Property and Casualty Underwriter?
1. a) Fire underwriters
2. b) Life and Health underwriters
3. c) Group Underwriters
4. d) Liability underwriters
Que. 5 : Q5) What does Underwriting mean?
1. a) Attending to the Nominations
2. b) Scrutinising and making decision on proposals
3. c) Attending to Assignments
4. d) Tracking the performance of either parties