Q. What does IBNR stand for in the context of estimating outstanding claims?

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Q. Why is it important to combine different methods and maintain consistency in making provisions for outstanding losses?

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Q. What is the purpose of making an additional provision for claims incurred but not reported (IBNR)?

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Q. What is the primary purpose of controlling accumulation hazards in reinsurance?

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Q. What is the role of underwriters in controlling accumulation hazards?

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Q. How is the magnitude of an earthquake measured?

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Q. What does the Modified Mercalli Scale measure?

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Q. What are some factors that influence the effect of an earthquake on a structure?

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Q. Which of the following regions are highly exposed to earthquakes?

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Q. How can underwriters determine the zones that may be affected by earthquake damage?

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Q. What is the purpose of maintaining accumulation control sheets?

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Q. Which regions are prone to volcanic eruptions?

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Q. What approach should underwriters take to accumulations arising from catastrophic perils?

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Q. Why do ceding insurers and reinsurers need periodical statistics of their business?

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Q. What is the purpose of establishing a decision support system in reinsurance?

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Q. Which of the following factors can affect underlying statistical trends in reinsurance?

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Q. Who are the users of the information produced from a statistical base in insurance and reinsurance organizations?

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Q. What are some of the uses of the information produced from a statistical base in insurance and reinsurance?

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Q. What is the purpose of reconciling balances and reviewing cash flow in the context of evolving a statistical system?

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Q. What type of information is required for retrocession treaties in the context of evolving a statistical system?

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