The practice of general (non-life) insurance — fire, motor, marine, miscellaneous covers, underwriting basics and claims handling.
These are 5 of the 642 IC-11 questions in Certena, taken from across the paper. Every answer key has been checked against a source — a printed answer key, a textbook extract, or arithmetic — not guessed. Reveal the answer and the explanation below each question. No sign-up needed.
Answer: A. Claims paid and claims intimated
Claims paid and claims Intimated give fairty accurate picture %l financial position of the Insurers. It guides the Insurers Ior the future strategy towards the product priclng antanging the reinsurance_
Answer: B. Payment made when risk is not covered under policy
An ex-gratia payment relates to the event when the claim is not covered but for business reasons, payment is made.
Answer: D. Installments
Group haalth Insurances can be granted by insurer by monthly salary deductlon 03 Installmants_
Answer: B. Management Expense ratio
The profitability of an insurance company depends upon controlling expenses. Expenses comprises of claim expenses & management expenses. Since the claims are unpredictable, an insurer would do well if it is able to control its management expense ratio.
Answer: B. Economic Depression
Poverty is the root cause of crimes & it's linked with the economic depression. Under economic depression, not enough employment could be generated. Burglaries consequent upon poverty & unemployment may be controlled to a greater extent with the growth of economy.
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