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

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

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

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Q. What is profit commission in reinsurance?

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Q. How is the percentage of brokerage payable in reinsurance determined?

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Q. What is overriding commission in reinsurance?

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Q. How is reinsurance commission typically expressed?

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Q. What aspects is reinsurance accounting comprehensively connected with?

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Q. In India, which of the following Acts governs the law and regulation relating to use of foreign exchange in respect of insurance and reinsurance transactions overseas?

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Q. Which statement is required to be submitted annually to the Reserve Bank of India by insurers in India?

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Q. Which statements are required to be submitted periodically to the Reserve Bank of India by insurers in India?

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Q. Without requiring permission, which types of claims can be settled by insurers in India?

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Q. Which liabilities can be paid out of foreign currency accounts by insurers in India?

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Q. What type of payments can be received into foreign currency accounts by insurers in India?

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Q. Which entities are permitted by the Reserve Bank of India to maintain foreign currency accounts in foreign countries for facilitating general insurance business undertaken abroad?

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