Question
What is the role of an actuary in the insurance
industry?Solution
Actuaries are highly skilled professionals who use mathematical and statistical methods to assess and manage financial risks in the insurance industry. Their key roles include: Pricing insurance products Setting reserves for future claims Developing and managing investment portfolios Conducting financial risk analysis
A risk or damage covered by an insurance policy is called as?
The Insurance Regulatory and Development Authority (IRDAI) was formed on the recommendation of which committee?
What is the purpose of risk management for an insured?
Which of the following is NOT a classification of general insurance in recent times?
Which Insurance is a compulsory insurance plan administered by a government agency with the primary emphasis on social adequacy?
Purchase price (premium) for the immediate annuity is to be paid in how many installments?
Which is not a General Insurance company?
The minimum paid-up capital requirement for setting up a general insurance company in India is:
A policy that covers the cost of repairing or replacing damaged electronic equipment is:
The conversion of the account balance of a deferred annuity contract to income payments is termed as?
