Podcast
Questions and Answers
Up to which limit is the insurer prepared to lose on risks in a 10/10 class?
Up to which limit is the insurer prepared to lose on risks in a 10/10 class?
- Financial limit
- Retention limit
- Reinsurance limit (correct)
- Risk limit
What is the main basis of calculation of premium of life insurance policies?
What is the main basis of calculation of premium of life insurance policies?
- Medical history of the insured
- Age of the insured (correct)
- Income of the insured
- Health of the insured
Who is the insurer transferring the business in under reinsurance?
Who is the insurer transferring the business in under reinsurance?
- Guarantor
- Agent
- Principal (correct)
- Sub-Agent
What determines the retention limit?
What determines the retention limit?
What type of insurance typically does not require a proposal form?
What type of insurance typically does not require a proposal form?
What is the term for the answers given by an applicant while taking a policy?
What is the term for the answers given by an applicant while taking a policy?
Which clause outlines mutual responsibility and obligations in a contract of Insurance?
Which clause outlines mutual responsibility and obligations in a contract of Insurance?
What is the meaning of indemnity?
What is the meaning of indemnity?
What type of cause has no effect on the happening of losses?
What type of cause has no effect on the happening of losses?
What type of insurance policy provides financial cover for contingency like death, accident, and retirement?
What type of insurance policy provides financial cover for contingency like death, accident, and retirement?
In which type of insurance does insurable interest not arise?
In which type of insurance does insurable interest not arise?
Which insurance policy is a package policy?
Which insurance policy is a package policy?
Flashcards are hidden until you start studying
