Que. 1 : Q1) Which basis is adopted where it takes a long time to determine the underwriting result with a reasonable degree of certainty and under this basis, a fund is created for each underwriting year?
1. a) Annual Basis of accounting
2. b) Fund Basis of accounting
Que. 2 : Q2) When the primary insurer passes risk on to a reinsurer, and the reinsurer accepts the business, the primary insurer is called the _________.
1. a) Reinsurer
2. b) Ceding company
Que. 3 : Q3) Which represents dividend proposed and declared by the company in the General meeting, which is to be paid in accordance with the provisions of the Companies Act 2013?
1. a) Unclaimed Dividend
2. b) Proposed Dividend
3. c) Calls in – Arrear
4. d) Interim Dividend
Que. 4 : Q4) Which accounts is for business and financial accounting, business entities are treated as separate legal entities?
1. a) Artificial personal accounts
2. b) Natural personal accounts
3. c) Representative personal accounts
4. d) None of these
Que. 5 : Q5) Which of the following shall not be a part of the annual report of a company? (i) Auditor’s Report (ii) Director’s report (iii) CAG Report
1. a) Only (i)
2. b) Only (ii)
3. c) Only (iii)
4. d) (i) and (ii)