Page 10 - CFPA-SCR-CII-W01-Corrigé des Quizz

6. By applying the Law of Large Numbers, Insurers can:

A. Predict the final costs of claims in one year
B. Calculate accurately a no claims bonus
C. Calculate the premium income in one year
D. Gain statistical evidence for Business Interruption

7. A Mutual insurance company is owned by:

A. Policyholders
B. Shareholders
C. Partnership
D. Management

8. At Lloyd’s the Policy is prepared by:

A. Excalibur
B. Extracting
C. Xchanging
D. Xmanaging

9. Part of an Insurance Broker’s role is to:

A. Act for one principal
B. Work as an agent
C. Place risks with Insurers
D. Sell limited policies

10. The role of the compliance officer usually includes:

A. Ensuring that company funds are adequate
B. Selling compliant insurance products to the wholesale market
C. Carrying out all training required and maintaining records
D. Maintaining the company’s compliance manual

11. One of the benefits of reinsurance is to

A. Protect the class of business
B. Keep prices at a low level
C. Make sure of renewal
D. Help with long term agreements