Page 111 - IC46 addendum
P. 111
The Insurance Times
16. Ind AS 104 exempts an insurer from
applying criteria as mentioned in Ind AS
8, Accounting Policies, Changes in
Accounting Estimates and Errors, to its
accounting policies for:
a. Insurance contracts that it issues.
b. Reinsurance contracts that it holds.
c. Reinsurance contracts that it issues.
d. a and b are correct.
e. a and c are correct.
17. Acedant receives compensation from
losses from an reinsurer, but the contract
obliges the cedant to repay the
compensation in future years . The
obligation arises from a deposit
component if the cedant`s -
a. Accounting policies would otherwise permit it
to recognise the compensation.
b. As income without recognising the resulting
obligation , unbundling is required.
c. Only a.
d. Only b.
e. Neither a nor b.
18. An insurer shall assess at the end of
each reporting period whether its
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