Q. Mentioned below are some insurance company stakeholders. Which is the odd one out?

View solution

Q. General Accounting must be in line with which of the following?

View solution

Q. Insurers invest in fundamentally different way Asset Liability Management and __________

View solution

Q. IBNR stands for what?

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

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

View solution

Q. Why is accurate claims reserving crucial for insurers?

View solution

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

View solution

Q. When should a Catastrophe Reserve be created?

View solution

Q. How are loans typically measured?

View solution

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

View solution

Q. What does the liability for outstanding claims include?

View solution

Q. How should acquisition costs be accounted for?

View solution

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

View solution

Q. How should premium be recognized as income?

View solution

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

View solution