Question
According to the Executive Committee of the General
Insurance Council, what is the minimum amount of unexpired risk reserve required for Marine Insurance?Solution
According to the Executive Committee of the General Insurance Council, for Marine Insurance, the minimum amount of unexpired risk reserve that must be maintained is 100% of the premium. This means that insurance companies must set aside an amount equal to the entire premium received for marine insurance policies to cover potential future claims and liabilities.
Suppose your data produces the regression result y = 10 +3x. Scale y by multiplying observations by 0.9 and do not scale x. The new intercept and slope ...
Balance of Trade is measured as:
GDPf = Gross Domestic Product at Factor Cost; GDPm = Gross Domestic Product at Market Price; NNPf = Net National Product at Factor Cost; C = Consumption...
What is the value of elasticity of substitution in case of complements?
The __________________test in econometrics begins by assuming that a defining point exists and can be used to differentiate the variance of the error term.
Which of the following is/are included while calculating the national income using the income method?
(1) Wages and salaries in cash
...
National Sample Survey Organization (NSSO) provides estimates of magnitude of unemployment on the basis of different concepts. Which of the following i...
In a multiple regression model, the Durbin-Watson test statistic is 1.3, while the critical lower and upper values are 1.5 and 1.7 respectively. This im...
Which of the following is NOT a correct statement in the context of National income?
Calculate the F-statistic , given the unrestricted R2 value is 0.60. Number of restricted parameters are 7 and total number of observations a...
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