Introduction MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Introduction, a fundamental topic in the field of IC85 Reinsurance Management. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Introduction MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Introduction mcq questions that explore various aspects of Introduction problems. Each MCQ is crafted to challenge your understanding of Introduction principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace IC85 Reinsurance Management tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Introduction MCQs are your pathway to success in mastering this essential IC85 Reinsurance Management topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Introduction. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Introduction knowledge to the test? Let's get started with our carefully curated MCQs!

Introduction MCQs | Page 8 of 13

Q71.
Who is responsible for regulating and controlling the conduct of insurance business in India?
Discuss
Answer: (a).IRDA Explanation:As a part of the process of liberalisation of the insurance industry in India, the Insurance Regulatory & Development Authority (IRDA) is vested with the authority of regulating and controlling the conduct of insurance business in India.
Discuss
Answer: (d).Both a and c Explanation:GIC Re became the sole statutory reinsurer for the Indian market. An important outcome following liberalisation and demerger is the reorientation of GIC Re from being a traditional regional reinsurer to a global reinsurer.
Q73.
What is the rating of GIC Re by A.M.Best?
Discuss
Answer: (a).A- Explanation:GIC Re is ranked within the top 20 reinsurers and rated A- by A.M.Best.
Discuss
Answer: (d).All of the above Explanation:GIC Re is entrusted to manage and administer Indian Motor Third Party Declined Pool, Indian Terrorism Insurance Pool, and Indian Marine Hull Insurance Pool.
Discuss
Answer: (c).Balance the share of domestic and overseas business Explanation:GIC Re is expanding its overseas branch operations and sourcing inward reinsurance in London and Dubai and other offices being set up to expand business. The target is to balance the share of domestic and overseas business.
Discuss
Answer: (c).A reinsurer Explanation:GIC Re became the sole statutory reinsurer for the Indian market.
Discuss
Answer: (b).IRDA regulations Explanation:As a reinsurance insurer GIC Re is governed by IRDA regulations.
Discuss
Answer: (b).GIC Re has become a global reinsurer Explanation:An important outcome following liberalisation and demerger is the reorientation of GIC Re from being a traditional regional reinsurer to a global reinsurer.
Q79.
What is GIC Re's rating by A.M.Best?
Discuss
Answer: (c).A- Explanation:GIC Re is rated A- by A.M.Best.
Q80.
What is the Indian market pursuing to establish under the direction of the Government of India?
Discuss
Answer: (c).Both a and b Explanation:Under the direction of the Government of India, the Indian market is pursuing to establish: Natural Catastrophe Pool, Nuclear Risks Liability Pool.