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113.All of the following insurance are Property and Casualty insurance EXCEPTOPT 1 Insurance of a CarOPT 2 Insurance of odily in!ury lia"ilityOPT 3 Insurance for #atural deathOPT $ Insurance of a Cargo in a shipCO%%ECT A#&'E% 3

11(.Cedants areOPT 1 Pri)ary Insurance Co)paniesOPT 2 %einsurance Co)paniesOPT 3 ro*ers

OPT $ #one of the a"o+eCO%%ECT A#&'E% 1

111.,ollowing is #OT a type of %einsuranceOPT 1 Proportional TreatyOPT 2 #on-Proportional ,acultati+eOPT 3 ni+ersal /ife insuranceOPT $ #on-Proportional TreatyCO%%ECT A#&'E% 3

1(0.Identify "usiness process which deals with analysis of historical data using co)ple)athe)atical )ethods and technology for deter)ining insurance rate

OPT 1 nderwritingOPT 2 Clai)sOPT 3 ActuarialOPT $ Product e+elop)entCO%%ECT A#&'E% 3

1(4.A co)pany owned "y policy holders is also referred to asOPT 1 Pu"lic co)panyOPT 2 &toc*holder co)panyOPT 3 Policyholder co)panyOPT $ 5utual co)panyCO%%ECT A#&'E% $

1(6.A clai) can "e re!ected ifOPT 1 The peril is not co+ered "y the policyOPT 2 The loss a)ount is less than the deducti"leOPT 3 The loss was caused intentionallyOPT $ All of the a"o+eCO%%ECT A#&'E% $

1(3.An agency usually a representati+e of se+eral unrelated insurance co)panies iscalled as

OPT 1 Eclusi+e agencyOPT 2 Independent agency

OPT 3 Capti+e agencyOPT $ ro*erCO%%ECT A#&'E% 2

1(1.Carriers areOPT 1 Insurance co)paniesOPT 2 %einsurance co)paniesOPT 3 ro*erOPT $ All of the a"o+eCO%%ECT A#&'E% 1

1(2.,irst #oti7cation of /oss 8,#O/9 is a ter) used in

OPT 1 nderwritingOPT 2 #ew usiness

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OPT 3 Clai)sOPT $ 5ar*etingCO%%ECT A#&'E% 3

40.Calculate /oss ratio Earned pre)iu) : 1(( Incurred clai)s : ;( )illionOPT 1 (.$