IC47A-1 CASUALTY ACTUARIAL SCIENCE PART 1 - 09
| Q1.Retained Earnings : |
| a) Owners Equity + Contributed Capital. |
| b) Assets + Liabilities - Contributed Capital. |
| c) Assets + Liabilities + Contributed Capital. |
| d) Owners Equity - Contributed Capital. |
| Q2.Which property is a property that is movable and not attached to land? |
| a) Real |
| b) Personal |
| Q3.How many Loss reserve principles are published by Causality Actuarial Society? |
| a) One |
| b) Two |
| c) Three |
| d) Four |
| Q4.Under which risk, there is both the chance of loss and the chance of gain? |
| a) Objective risk |
| b) Pure risk |
| c) Speculative risk |
| d) Subjective risk |
| Q5.Which losses refer to the case reserve development plus reported occurrences or claims reserve? |
| a) Unreported losses |
| b) Incurred losses |
| c) Reported losses |
| d) Ultimate losses |
| Q6.___was used in the formula is based upon experience losses, which are trended projected ultimate losses for the experience period under review, and the exposures earned during the experience period. |
| a) Loss Ratio Method |
| b) Individual Rating Method |
| c) Experience Rating Method |
| d) Pure Premium Method |
| Q7.In ___, risk theory leads to measurement of ruin probability based on particular premium writings and surplus positions. |
| a) Ratemaking |
| b) Solvency considerations |
| Q8.Which of the following is correct? |
| a) P = P-F / 1-V-Q |
| b) P = P+F / 1+V+Q |
| c) P = P+F / 1-V-Q |
| d) P = P-F / 1-V+Q |
| Q9.A total loss reserve consists of how many elements? |
| a) Two |
| b) Three |
| c) Five |
| d) Seven |
| Q10.Which of the following are basic types of prospective individual risk rating systems? |
| a) Schedule rating |
| b) Experience rating |
| c) Some types of Composite rating |
| d) All of the above |