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Q1.In case the rates are based on non-insurance technical data:
   a) the insurer should be able to defend logic underlying the establishment of the estimated claims costs from which the rates are derived
   b) the insurer should be able to demonstrate that the rates of the reinsurance markets have been properly ascertained and represent rates quoted by reinsurance of repute
   c) the insurer should be able to demonstrate the reasonableness of the variation from the currently prevailing level of rates
  d) there should be adequate statistical information on the claims experience at the current schedule of rates.
Q2.Which of the following comes under the Contents of the prospectus?
   a) Insured details
   b) Property details
   c) Extent of insurance cover
   d) Period of insurance
Q3.Under which rate regulatory system, allows the insurance company to change rates immediately, but must file the new rate with the insurance department within a specific time, typically 15 to 60 days?
   a) Prior approval laws
   b) File and use laws
   c) Use and file laws
   d) Flex rating laws
Q4.In which rating, the experience of risk over a continuous past period is used to calculate the rate for the period for which cover is being provided?
   a) Prospective experience rating
   b) Retrospective rating method
Q5.____ are special conditions based on the statements made by the insured. These are imposed under the policy, which is to be adhered to by the proposer for the performance of the contract.
   a) Conditions
   b) Warranties
   c) Exclusions
   d) None of these
Q6.When the insured is unable to declare the separate value of stock in each godown but is able to declare the total value of all his stocks in various godowns, he can take insurance cover of:
   a) Fire floating policy
   b) Fire declaration policy
   c) First loss policy
   d) None of the above
Q7.Thus, the financial statements of general insurers are drawn into how many classes of business?
   a) 1
   b) 2
   c) 3
   d) 4
Q8.In which analysis do claim databases need to be analyzed as to whether there is a pattern in the losses?
   a) Loss cause analysis
   b) Claims analysis
   c) Underwriting analysis
   d) None of these
Q9.Who is looking at these and others innovations to monitor risks as well as remedies of reducing and pricing existing and emerging risks?
   a) Agent
   b) Principal
   c) Underwriter
   d) None of these
Q10.Which of the following is a not-named peril policy? i. Motor package Insurance Policy ii. Burglary Policy iii. Industrial All Risks Policy iv. Marine Cargo policy on Institute Cargo Clauses 'B' and 'C'
   a) ii,iii
   b) i,iv
   c) iii
   d) iii,iv

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