Which of the following companies became Indian reinsurer after nationalisation?

Which of the following is incorrect with respect to advantages of reinsurance?

Reinsurance is a contract between ______________and ___________________.
I. Insurer and insured
II. Insured and Underwriter III. Underwriter and reinsurer IV. Insurer and reinsurer

SWIFT is an acronym for _______________
I. Single Window International Facultative and Treaty
II. Single Window Indian Facultative and Treaty III. Single Window International Facility and Treaty IV. Single Window Indian Facility and Treaty

In the surplus method, who decides the limit of liability which can be retained
on any one risk or class of risk?
I. Policyholder II. Intermediary III. Ceding insurer IV. Reinsurer

In surplus reinsurance, a ceding insurer’s retention is known as ___________.
I. Surplus limit
II. Line III. PML IV. Quota share

In which of the following methods does the percentage of retained sum insured
vary for different limits of sums insured and reduce with increase in the limit of
sum insured?

In the Treaty, as a ‘document of agreement’, which of the following countries
are normally excluded while listing territorial scope?
I. UK II. Canada III. Australia IV. South Africa

Which of the following details are not included in a list of bordereaux?
I. Name of insured
II. Territorial scope III. Class of risk IV. Ceding insurer’s retention

ABC insurer wants to protect his whole book of business. Hence he enters into
an arrangement where a single composite cover is installed for protection of its
whole business, incorporating all classes of business. This arrangement is known as ____

Which of the following is correct with regards to catastrophe cover?

Which of the following is a normal method of reinsurance in miscellaneous
accident business?
I. Per risk basis II. Per event basis III. Excess of loss basis IV. Surplus basis

Which of the following is an example of a ‘high risk’ area due to frequent occurrence of bush fires?
A.The USA
B.Europe C Japan D. Australia

The magnitude of an earthquake is measured on the
______________.
I. Richter scale II. Beufort scale III. Moment magnitude scale IV. Modified magnitude scale

In a year of catastrophe, the reinsurance programme
should be designed in such
a manner that ________________

The primary objective of reinsurance is that it should reduce the insurer’s probability of ‘ruin’ at a price acceptable to it . In what context is the word ‘ruin’ used by an actuary?