Que. 1 : Q1) Ind AS 34 notified by MCA deals with:

   1.  a) Separate Financial Statements

   2.  b) Interim Financial Reporting

   3.  c) Borrowing Costs

   4.  d) Impairment of Assets

Que. 2 : Q2) From the above date, compute the following accounting ratios for analysis of financial statements vis-a-vis performance analysis for 2005-06 ABC General insurance company. Calculate Gross Premium to Shareholders’ Funds.

   1.  a) 80.25%

   2.  b) 88.35%

   3.  c) 96.45%

   4.  d) 103.00%

Que. 3 : Q3) Which is the one whereby the reinsurer receives a predetermined proportion or share of the premium and pays the same proportion or share of loss?

   1.  a) Facultative Reinsurance

   2.  b) Treaty Reinsurance

   3.  c) Proportional Treaty Reinsurance

   4.  d) Non-Proportional Treaty Reinsurance

Que. 4 : Q4) At every annual general meeting the financial statements are presented to the shareholders by the:

   1.  a) Statutory Auditors

   2.  b) Internal Auditors

   3.  c) Company Secretary

   4.  d) Board of Directors

Que. 5 : Q5) The last stage of final accounts is the balance sheet. Say whether True or False.

   1.  a) True

   2.  b) False

   3.  

   4.