Que. 1 : Q1) When there is a failure of a system, human errors, inadequate procedures and controls, we call it as

   1.  a) Objective risk

   2.  b) Operational risk

   3.  c) Human risk

   4.  d) None of the above

Que. 2 : Q2) Personal accident business carries catastrophe exposure in respect of

   1.  a) Group PA policies

   2.  b) Passengers in a vehicle

   3.  c) Passengers in a aircraft

   4.  d) All the above

Que. 3 : Q3) The Portfolio transfer percentage of 35% to 40% is arrived at by-

   1.  a) 60% method

   2.  b) 70% method

   3.  c) 75% method

   4.  d) 50% method

Que. 4 : Q4) Which of the following is / are not true with proportional facultative reinsurance?

   1.  a) The Re-insurer shares a proportional part of the ceded insurance liability

   2.  b) All the losses are to be transferred to the Re-insurer by the cedent

   3.  c) The Re-insurer pays directly to the original insured

   4.  d) Both (b) and (c) above

Que. 5 : Q5) In _________ business, a mix of risks producing a broad based premium and giving a good treaty balance, yielding fairly sustained positive results over a period of time is need.

   1.  a) Reciprocal business

   2.  b) Risk booked business

   3.  c) non risk booked business

   4.  d) Medium size business