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Question 1
Which of the following schedules to the Revenue Account under IRDA (Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations prescribes the format for Premium Earned?
Correct Answer:
Schedule 1
Question 2
In the valuation of life insurance liabilities, the difference between the present value of future benefits and the present value of future net premiums is known as:
Correct Answer:
Mathematical Reserve
Question 3
Under IRDAI Investment Regulations, life insurers are required to invest a minimum percentage of their Life Fund in Central Government Securities. What is this minimum percentage?
Correct Answer:
25%
Question 4
Which accounting standard issued by the ICAI primarily deals with 'Revenue Recognition', which is relevant for recognizing premium income, although insurers have specific IRDAI guidelines overriding general rules?
Correct Answer:
AS 9
Question 5
What is the primary objective of calculating the Solvency Margin for a life insurance company?
Correct Answer:
To ensure the insurer has sufficient capital to meet unexpected future liabilities
Question 1
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About this Exam

Prepare with the III IC-26 Practice Questions - III IC-26 Life Insurance Finance Exam practice quiz. This question bank includes 100 questions covering life, insurance, company, valuation, and account. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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III IC-26 Practice Questions - III IC-26 Life Insurance Finance Exam

This practice set contains 100 questions from the matching question bank and focuses on life, insurance, company, valuation, and account. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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