Podcast
Questions and Answers
What is the primary role of the Insurance Commission?
What is the primary role of the Insurance Commission?
- To invest in real estate and stocks
- To provide insurance coverage to policyholders
- To adjudicate claims exceeding Php 100,000
- To execute laws pertaining to insurance companies and matters (correct)
What is the minimum capitalization requirement for Insurance Companies in the Philippines?
What is the minimum capitalization requirement for Insurance Companies in the Philippines?
- Php 1M
- Php 2B
- Php 500,000
- Php 1B (correct)
Which of the following is a characteristic of a policyowner in a Mutual Insurance Company?
Which of the following is a characteristic of a policyowner in a Mutual Insurance Company?
- An agent
- A policyowner (correct)
- An owner of a Stock Insurance Company
- A shareholder
What is the purpose of solvency in Insurance Companies?
What is the purpose of solvency in Insurance Companies?
What is a requirement for an agent to be licensed?
What is a requirement for an agent to be licensed?
What is the effect of rebating in the insurance industry?
What is the effect of rebating in the insurance industry?
What is the minimum amount of surplus required for Insurance Companies in the Philippines?
What is the minimum amount of surplus required for Insurance Companies in the Philippines?
What is the role of reserves in Insurance Companies?
What is the role of reserves in Insurance Companies?
What is the maximum percentage of investment in real estate for Insurance Companies?
What is the maximum percentage of investment in real estate for Insurance Companies?