Q. What is profit commission in reinsurance?

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Q. Which country levies a Service Tax of 5% on direct premium?

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Q. What law and regulation govern the use of foreign exchange in respect of insurance and reinsurance transactions overseas in India?

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Q. Who reviews and approves the reinsurance arrangements of the GIC Re?

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Q. Which regulatory authority grants permission to GIC Re as an authorized dealer to arrange remittances of foreign exchange for reinsurance arrangements?

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Q. Which of the following reinsurance commission method is used to calculate the rate of commission based on the loss ratio of the treaty during any one treaty year or during any one underwriting year?

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Q. Which of the following reinsurance commission method is used to calculate the rate of commission based on the loss ratio of the treaty during any one treaty year or during any one underwriting year?____________ is an additional percentage payable to a ceding insurer on profitable treaties in accordance with an agreed formula.

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Q. When a reinsurer receives business as an inward retrocession, the reinsurer will allow the ceding insurer _____________ over and above any share of the original commission that he may pay.

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Q. For which of the following types of business will the accounting be rendered on an ‘Underwriting Year’ basis?

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Q. Which of the following formulae is correct?

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