1. Liabilities under the existing policies are determined by ________valuation i

Question

1. Liabilities under the existing policies are determined by ________valuation in case of life insurance.
(a) Actuarial
(b) Fair
(c) Average
(d) Surrender
2. In fire insurance business ______ percentage of premium income is carried forward as provision for and the balance is transferred to profit and loss account.
(a) 100%
(b) 50%
(c) 25%
(d) 10%
3. Insurance business is controlled by
(a) Insurance Act, 1938
(b) Insurance Rules, 1939
(c) IRDA Regulations, 2002
(d) All of the above

4. In marine insurance business ______ percentage of premium income is carried forward as provision for and the balance is transferred to profit and loss account.
(a) 100%
(b) 50%
(c) 25%
(d) 10%

Explanation / Answer

surrender value,50%,all of the above,25%

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