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Advanced Wealth Management Course (IIBF) - Paper 4
Part I: Ch 2: Insurance Organization, Structure and Functions
Q1.
The stage where all the experts analyze the feasibility of the new product that has been selected for detailed scrutiny is called:
Q2.
In which stage, the actual distribution of the new product is commenced?
Q3.
(I) A broker primarily represents the company and is expected to represent it correctly. (II) An Agent may be said to represent the customer.
Q4.
The primary function of an agent is to procure business for the insurance company.
Q5.
The marketing channel/s in insurance is /are:
Q6.
(I) Underwriting is a process of screening and selecting proposals for granting of insurance. (II) Underwriting helps to ensure equity among policy holders.
Q7.
An Actuary is a person who has passed specialized examinations conducted by the Institute of Actuaries of India.
Q8.
(I) Actuary apply the principles of probability and compound interest to derive appropriate premiums that are adequate to pay the claims and meet the company’s other costs. (II) Actuary conducts a periodical valuation of the insurer’s assets and liabilities.

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