Q. IBNR stands for what?

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Q. Reserves for unexpired risks come under the heading of which of the following?

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Q. How does Insurance Accounting differ from accounting in other industries?

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Q. Which two basic investment theories do insurance companies typically follow?

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Q. At what level is the process of claims reserving carried out?

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Q. What are the two main sets of reserves in insurance?

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Q. Who are the stakeholders with varied interests in insurance reserving?

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Q. Why is accurate claims reserving crucial for insurers?

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Q. Which of the following are important accounting functions in a general insurance company?

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Q. When should a Catastrophe Reserve be created?

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Q. How are loans typically measured?

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Q. What should the accounting estimates for claims cost include?

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Q. What does the liability for outstanding claims include?

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Q. How should acquisition costs be accounted for?

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Q. When should premium reserve for unexpired risks be created?

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Q. How should premium be recognized as income?

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Q. What are the three exceptions in general accounting standards for insurers carrying on general insurance business?

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Q. Which of the following statements regarding insurance accounting is NOT correct?

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Q. What is the minimum percentage requirement for investments in Government securities and other Guaranteed securities, including Central Government Securities?

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Q. According to the Indian Regulations outlined, what is the minimum percentage requirement for investments in Central Government Securities?

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