IC11 PRACTICE OF GENERAL INSURANCE EXAM - 07
Q1.All insurers have to prepare what type of account? |
Cashbook |
Balance sheet |
Income & Expense statement |
Company register |
Reconciliation statement |
Q2.Regulatory Issue is an example of __ risk. |
Operational |
Strategic |
Compliance |
Financial |
Knowledge management |
Q3.The insurance of which companies is dealt mainly by State Insurance Funds? |
Private companies in a particular State |
State Government-owned companies |
Unlisted State companies |
Local Government-owned companies |
Multi-National owned companies |
Q4.Motor insurance policy for private or commercial vehicles is also known as __. |
Vehicle Damage policy |
Liability only policy |
Declaration policy |
Floating policy |
Accident policy |
Q 5.Settlement of claims is an important function of which organization? |
Mutual Fund organization |
Insurance organization |
NGO's |
Service organization |
Govt. organization |
Q6.___ are large losses that may occur on rare occasions but have a devastating effect on an organization. |
Catastrophes |
Speculative |
Chronic |
Fundamental |
Dynamic |
Q7.The information which is obtained from the proposal form, the details of risk inspection, etc are fed into the computers. This procedure is called ___. |
Policy Procedure |
Duty Procedure |
Agreement Procedure |
Documentation Procedure |
Implementation Procedure |
Q8.Where are the accounting transactions posted? |
Balance Sheet |
Cashbook |
Daybook |
Subsidiary book |
Account book |
Q9.The provision of percentage in investment in an approved investment like infrastructure and the social sector should not be less than ___. |
5 |
10 |
15 |
20 |
25 |
Q10.Whose responsibility is to collect detailed information of client's business? |
Sales agent |
Insurers |
Direct brokers |
Underwriters |
Business agents |