IC46 GENERAL INSURANCE ACCOUNTS PREPARATION - 11

Que. 1 : Q1) Which one of the following comes under "Miscellaneous Insurance"?

   1.  a) Marine insurance

   2.  b) Motor insurance

   3.  c) Fire insurance

   4.  d) None of the above

Que. 2 : Q2) Which Schedule of the Companies Act 2013 provides for conditions to be fulfilled for the appointment of a managing or whole-time director or a manager without the approval of the Central Government?

   1.  a) Schedule 1

   2.  b) Schedule 3

   3.  c) Schedule 5

   4.  d) Schedule 7

Que. 3 : Q3) Which of the following is / are the criterion/criteria for an item of expenditure to be included under the head "Miscellaneous Expenditure" in accordance with Schedule B of the IRDAI(Preparation of Financial Statements and Auditor's Report of Insurance Companies)  Regulations, 2002?
(i)  Future benefit from the expenditure can reasonably be expected
(ii)  The amount of such benefit is reasonably determinable.

   1.  a) Both (i) and (ii)

   2.  b) Only (i)

   3.  c) Only (ii)

   4.  d) Either (i) or (ii)

Que. 4 : Q4) Basically how many types of Treaty reinsurance are there?

   1.  a) One

   2.  b) Two

   3.  c) Three

   4.  d) Four

Que. 5 : Q5) Which of the following represents the difference between the sale price and the cost price of goods or services sold?

   1.  a) Net profit

   2.  b) Gross profit

   3.  c) Net difference

   4.  d) None of these