Assessment: Reinsurance Contracts 22-23
Assessment Information
Total number of questions: 10
Competency Mark: 65%
Duration: 30 minutes
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Question 1 of 10
1. Question
Please complete the sentence.
The insurer that diversifies its insurance portfolio is known as the-
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Question 2 of 10
2. Question
Which of the following statements with regard to reinsurance are correct?
i. Any insurer may accept the risks underwritten by other insurers.
ii. The reinsurance of a risk does not involve the insured at all.
iii. Retrocession is when an insurer reinsures their risk with more than one reinsurer.
iv. In a reinsurance contract, the insurer is exchanging insurance risk for market risk. -
Question 3 of 10
3. Question
Which of the following may imply an arbitrage opportunity for an insurance company in terms of reinsurance contracts?
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Question 4 of 10
4. Question
ABC Insurer wishes to reinsure a large unusual risk by setting a priority.
Which one of the following products will be suitable in this event? -
Question 5 of 10
5. Question
Which of the following statements with regard to treaty reinsurance are correct?
i. The relationship between the ceding company and the insurer is likely to be short-term.
ii. The relationship between the ceding company and the insurer is likely to be long-term.
iii. Treaty reinsurance provide less flexibility for the ceding company than facultative reinsurance.
iv. Treaty reinsurance provide more flexibility for the ceding company than facultative reinsurance. -
Question 6 of 10
6. Question
Which one of the following statements with regard to difference between treaty a facultative reinsurance contract is correct?
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Question 7 of 10
7. Question
Good Insurers purchased a non-proportional reinsurance policy with Reinsurer X with the following terms:
- R50 000 XS of R50 000
A claim is made against Good insurers for R120 000.
Indicate the amounts that each party to the reinsurance contract will be liable to pay in the event of the claim?Question 8 of 108. Question
Please complete the sentence.
If a reinsurance contract is written on a risk attaching basis, the reinsurance is provided for claims arising from-
Question 9 of 109. Question
Which one of the following products may be seen as an alternative to reinsurance treaty reinsurance contract?
Question 10 of 1010. Question
Which one of the following statements with regard to investment products or insurance methods that can be used as an alternative to reinsurance is correct?
The REready! Pack is designed to be used to prep for RE1 or RE5 or both.
The content for RE1 and RE5 overlaps as both exams test your practical knowledge of the FAIS Act and FICA.
The class is not a facilitator that is going to read the law out of a book for you.
Anna Bouhail contextualizes the content and creates an understanding of basic concepts related to law, the industry, and competency exams.
The class is structured to also instill compliance skills allowing the learner to answer practical questions.