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Certificate In Reinsurance Premium Access
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Question 1 of 30
1. Question
Please select from the below solutions the correct one when you think about reinsurance, in general?
Correct
Incorrect
Through reinsurance, we understand a process with one participant, the reinsurer. The risks covered under a policy issued by an insurance company in consideration of premium payment is taken by the reinsurer.
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Question 2 of 30
2. Question
Which of the statement from the solutions offered about prudent insurers do you consider to be true?
Correct
Incorrect
The prudent insurers will try to avoid over-exposure on any risk in any situation.
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Question 3 of 30
3. Question
Which of the following can best describe in a few words what reinsurance is?
Correct
Incorrect
Reinsurance can be defined as a risk that is transferred as a mechanism and spreading the risk.
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Question 4 of 30
4. Question
Which of the variants proposed here can be considered true about the proportional life reinsurance structures?
I. Some portion of risks ceded proportionately (a pre-defined portion of each policy).
II. Related to the ceding company’s retention limit.
III. Can have a significant impact on the risk profiles of companies.
IV. Related to the ceding company’s acquisition limit.Correct
Incorrect
Some of the variants that are true about the proportional life reinsurance structures refers to the impact on the risk profiles of companies. The structure are also related to the ceding company’s retention limit and some portion of risks ceded proportionately.
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Question 5 of 30
5. Question
How would you define the risk retention also sometimes referred to as self-insurance?
Correct
Incorrect
The risk retention can be defined as passively occurring, being based on a preserving certain amount of risk exposure.
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Question 6 of 30
6. Question
Which of the following segments are part of the vehicles ART category only?
I. Bermuda transformers.
II. Special-purpose vehicles/reinsurers.
III. Capital markets subsidiaries.
IV. Captives and risk retention groups.Correct
Incorrect
The segments that are part of the vehicles ART category are the bermuda transformers, special-purpose vehicles/reinsurers, capital markets subsidiaries and captives and risk retention groups.
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Question 7 of 30
7. Question
Which of the below regarding the supply risk capacity in a number of traditional insurance lines are involved in a normal course of business?
I. Underwriting.
II. Rate-making.
III. Settling claims.
IV. Managing investments.Correct
Incorrect
The supply risk capacity in a number of traditional insurance lines that involves in a normal course of business the following: rate-making, claims, investments and underwriting.
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Question 8 of 30
8. Question
Which of the statements offered below as a solution about the rate on line (ROL) do you consider it to be true?
Correct
Incorrect
Through the rate on line we understand the amount the insurer has to pay to have reinsurance coverage. Each time the rate on line is higher, this significant the amount of money needed to be paid is higher.
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Question 9 of 30
9. Question
Which sentence from the below regarding the premium capacity do you consider that could be true?
Correct
Incorrect
When an insurer/reinsurer wants to write a large volume of policies on the same line of cover, it is called the premium capacity.
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Question 10 of 30
10. Question
Which of the sentence related to the catastrophe per occurrence excess of loss from below is a true one?
Correct
Incorrect
The catastrophe per occurrence excess of loss refers to the situations when the insurer will be covered for the loss experiences through the reinsurance agreement he signed.
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Question 11 of 30
11. Question
How would you define the combined ratio based on the sentences offered below as a solution?
Correct
Incorrect
The combined ratio refers to the loss-adjustment expenses and underwriting expenses to premiums.
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Question 12 of 30
12. Question
Which of the below sentences proposed do you consider to be a true definition of the Commercial general liability (CGL) policy?
Correct
Incorrect
Commercial general liability (CGL) policy can also be called a multiple-peril insurance policy. This is used by companies in order to cover exposure to various liabilities simultaneously.
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Question 13 of 30
13. Question
What happens to risks when it comes to treaty reinsurance, which of the below is the correct one?
Correct
Incorrect
When the primary insurer agrees to give up to his part of risks and the reinsurer accepts it, the risks are automatically ceded and accepted.
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Question 14 of 30
14. Question
Select the correspondent sentence from below referring to quota share, which is the correct one?
Correct
Incorrect
Quota share refers to an agreement between the insurer and reinsurer where both of them are agreeing on splitting risks, losses and so on.
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Question 15 of 30
15. Question
How would you define the pure premium from the sentences presented to you?
Correct
Incorrect
Pure premium refers to the loses that are covered through the insurance policy by the insurer.
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Question 16 of 30
16. Question
Which from below about the property per risk excess of loss form your own perspective is the correct one?
Correct
Incorrect
The property per risk excess of loss form is a reinsurance agreement like any other giving the insurer coverage for any loss in excess.
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Question 17 of 30
17. Question
Which of the statements offered here from post-loss, premium capacity and premium loading is correct?
I. Post-loss financing – financing arranged in response to a loss event
II. Post-loss management is a process that ensures a firm operates as a “going concern” in the aftermath of a loss.
III. Premium capacity the ability for an insurer/reinsurer to write a large volume of policies on the same line of cover.
IV. Premium loading the amount needed to cover insurance overhead expenses and produce an appropriate profit margin; a component of fair premium.Correct
Incorrect
All the statements offered as an answer are correct and part of the Alternative Risk Transfer and integrated risk management through insurance and reinsurance.
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Question 18 of 30
18. Question
Which of the below about the paid loss retrospective policy in an insurance contract can be the correct one?
Correct
Incorrect
The paid loss retrospective policy also refers to what is called a loss-sensitive insurance contract. When the premium is due, the insurer has to make the payment.
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Question 19 of 30
19. Question
Which of the following about the loss portfolio transfer are part of the definition form you point of view?
I. Loss portfolio transfer a finite insurance policy where the cedant transfers unclaimed losses.
II. In the loss portfolio, the previous liabilities have transferred the form of an entire portfolio.
III. The cedant pays the insurer a fee, premium and the present value of net reserves to cover existing portfolio liabilities.
IV. In the loss portfolio transfer, the insurer assumes responsibility for those losses.Correct
Incorrect
When referred to the loss portfolio transfer a finite insurance policy where the cedant transfers unclaimed losses take place.
Also, the previous liabilities have transferred the form of an entire portfolio. The insurer assumes responsibility for those losses. And the cedant pays the insurer a fee, premium and the present value of net reserves to cover existing portfolio liabilities. -
Question 20 of 30
20. Question
Which of the below about the insurance-linked securities referencing insurance risks are true?
Correct
Incorrect
Insurance risks that are issued to transfer exposures and create additional risk capacity refer to the ILS securities insurance risks.
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Question 21 of 30
21. Question
Select which one is the correct answer about the large deductible policy in a loss sensitive insurance contract?
Correct
Incorrect
Loss sensitive is an insurance contract where there is involved a large deductible policy, which means that a much larger amount of risk and pays a smaller premium to the insurer.
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Question 22 of 30
22. Question
If the full insurance an insurance contract is useful in providing complete coverage of a risk exposure, which of the below is the correct one?
Correct
Incorrect
The contract offers complete coverage of risk always in exchange for a higher risk premium, in case of the full insurance.
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Question 23 of 30
23. Question
How would the incurred loss retrospective policy report to the insurance contract considering the below?
Correct
Incorrect
The insurance contract includes a loss sensitive insurance where the cedant pays an amount of money through one year only to the insurer with the main goal to cover the losses.
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Question 24 of 30
24. Question
How would the convergence a cross-sector fusion of business activities be defined through the given below?
Correct
Incorrect
Convergence a cross-sector fusion of business activities includes mechanisms that help to transfer a variety of insurance and financial risk, in case they are needed.
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Question 25 of 30
25. Question
How is the line of credit arranged in case of a contingency loan a bank?
Correct
Incorrect
In case of a contingency loan a bank of a line, the credit is usually arranged in advance of a loss.
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Question 26 of 30
26. Question
Which phrase given is the correct one from your own personal perspective about risks?
Correct
Incorrect
The match between a loss-making exposure and a compensatory payment is imperfect when it comes to the risk of loss arising.
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Question 27 of 30
27. Question
Knowing that the finite reinsurance limits the risk transfer that a reinsurer makes available to an insurer, which do you consider true?
I. Finite reinsurance can be written in the form of spread loss.
II. Finite reinsurance can be written in the form of financial quota share.
III. Finite reinsurance can be written in the form of loss portfolio transfers.
IV. Finite reinsurance can be written in the form of adverse development covers.Correct
Incorrect
The finite reinsurance limits risk transfer that a reinsurer makes available to an insurer, can be written in the form of spread loss, quota share, loss portfolio transfers and adverse development covers.
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Question 28 of 30
28. Question
Which of the below about the exchange-traded derivatives standardized derivative contractor is true?
Correct
Incorrect
Through an authorized exchange and its clearinghouse Exchange-traded derivatives standardized derivative contracts traded.
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Question 29 of 30
29. Question
Which of the below regarding the adverse development cover a finite insurance contract can be considered true?
Correct
Incorrect
Adverse development covers a finite is an insurance contract which refers to any event or condition which is or with either notice or the passage of time being.
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Question 30 of 30
30. Question
Catastrophe reinsurance swap a synthetic financial transaction that exchanges a commitment fee for a contingent sum payable in the event of a catastrophic loss.
Correct
Incorrect
The catastrophe reinsurance could be defined as a contract to cover the financial situation in case of a catastrophic loss.