IC47A-1 CASUALTY ACTUARIAL SCIENCE PART 1 - 12
Que. 1 : Q1) Loss ratio method cannot be used for:
1. a) Existing fire class of business
2. b) New line of business
3. c) Commercial lines of business
4. d) Household lines of business
Que. 2 : Q2) The date on which the loss is first reported to an insurer?
1. a) Accident Date
2. b) Accounting Date
3. c) Valuation Date
4. d) Report Date
Que. 3 : Q3) Actuarial criteria is also be called as ______________.
1. a) Mathematical criteria
2. b) Financial criteria
3. c) Statistical criteria
4. d) Management Criteria
Que. 4 : Q4) Given that : Pure premium = Rs. 75.00 Fixed expenses per exposure = Rs. 12.50 Variable expense factor = 17.5% Profit and contingency factor = 5.0% The rate per unit exposure will be
1. a) Rs.98.26
2. b) Rs.112.90
3. c) Rs.130.54
4. d) Rs.142.25
Que. 5 : Q5) The most well-known form of ________ is gambling.
1. a) Speculative risk
2. b) Objective risk
3. c) Subjective risk
4. d) Pure risk