Que. 1 : Q1) The contract under which a reinsured is obliged to cede a fixed percentage of the risks falling within the scope of the policy is called
1. a) Quota Share Treaty
2. b) Surplus Share Treaty
3. c) Excess of Loss Treaty
4. d) Stop Loss Treaty
Que. 2 : Q2) Reserve for unexpired risk is calculated on
1. a) premium received including reinsurance ceded but excluding reinsurance received.
2. b) including reinsurance ceded and reinsurance received
3. c) excluding reinsurance ceded and including reinsurance received.
4. d) excluding reinsurance ceded and excluding reinsurance received.
Que. 3 : Q3) The Manager of Motor Insurance Third Party pool is from:
1. a) IRDA
2. b) GIC
3. c) New India
4. d) United India
Que. 4 : Q4) Insurers in India have to secure license from IRDA to start Insurance business. It is an example of
1. a) Market Perfection
2. b) Market Imperfection
3. c) Barriers to entry
4. d) All the above
Que. 5 : Q5) With the___________ clause the ceding insurer can make a provision for ‘termination without notice’ in the event of certain other circumstances stipulated in the contract.
1. a) Operative clause
2. b) Downgrade clause
3. c) Commencement and termination clause
4. d) Sudden death clause