IC85 REINSURANCE MANAGEMENT EXAM - 12

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Q1.The two types of Reinsurance are
   a) Proportional and Non-Proportional
   b) Treaty and Facultative
   c) Proportional and Facultative
   d) Non-Proportional and Treaty
 
Q 2. The practice of reciprocal reinsurance trading is more often used in the case of____ business.
   a) Fire insurance
   b) Life insurance
   c) Aviation insurance
   d) Accident/liability insurance
 
Q3.While preparing a summary sheet in the case of reciprocal exchange, Which of the following information is not included?
   a) Adequacy of rate
   b) Commission
   c) Incurred claims
   d) Net result
 
Q4.ABC is a reinsurance company. it gets into a contract with another reinsurance company: XYZ Reinsurance Co.Ltd . such contracts between two reinsurance companies are known as___
   a) Facultative reinsurance
   b) Treaty reinsurance
   c) Retrocession
   d) Facultative obligatory reinsurance
 
Q5.What is the principal objective of the F.A.I.R pool?
   a) To accept insurance and reinsurance business from the African and American markets
   b) To accept insurance and reinsurance business from the African and Asian markets
   c) To accept insurance and reinsurance business from the Australian and American markets
   d) To accept insurance and reinsurance business from the Asian and Chinese markets
 
Q6.Which of the following forms of reinsurance is used to facilitate the writing of high-value exposures or to deal with high accumulation?
   a) Facultative
   b) Retrocession
   c) Treaty reinsurance
   d) Facultative obligatory treaty
 
Q7.Because of the different laws and insurance practices prevailing the following countries are usually excluded, where treaties are as a `worldwide basis-
  a) Engl and Irel and
  b) Germany and France
  c) the United States of America and Canada
   d) Malaysia and Mauritius
 
Q8.Excess of loss treaties can be classified as
   a) per occurrence
   b) per risk
   c) aggregate excess
   d) all the above
 
Q9.___are reinsurance agreement entered into in writing between the ceding insurer and his reinsurer and embody the terms and conditions of the treaty as agreed between these two parties.
   a) Reinsurance contract
   b) Treaty wordings
   c) Slips
   d) Cover notes
 
Q10.Following reinsurance companies are underwriting business in India:
   a) Munich Re
   b) Swiss Re
   c) Axa Re
   d) GIC Re

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