Question
What is a type of reinsurance in which the reinsurer can
accept or reject any risk presented by an insurance company seeking reinsurance?Solution
Facultative insurance is reinsurance for a single risk or a defined package of risks. The ceding company (the primary insurer) is not compelled to submit these risks to the reinsurer, but neither is the reinsurer compelled to provide reinsurance protection. Each risk under a facultative contract is individually underwritten by the reinsurer. Agreement to provide reinsurance “facilitates” the primary insurer’s desire to write the business; without the reinsurance, the primary insurer may be unable to provide coverage for the agent.
In the absence of Partnership Deed, partners are entitled to:
The cost that is concerned with the determination of the cost of each activity rather than the process is called:
As per the Union Budget 2025–26, under the MSMED Act, 2006, to be classified as a medium enterprise, the annual turnover should be up to:
An investor deposits â‚ą50,000 in an account offering 8% compound interest annually. What will be the maturity value after 3 years?
A company has a standard direct material cost of â‚ą10 per unit. Actual cost incurred was â‚ą12 per unit for 1,000 units. 950 units were actually produc...
If the company earned revenue from operations of Rs.18 lakh, what is the working capital turnover ratio of the company?
What is the minimum outstanding balance in a non-performing borrowal account that requires reporting as a willful default?
Which of the following is a limitation of accounting that can affect the accuracy and usefulness of financial statements?
Dividend is paid to the shareholders on:
Who among the following generally maintains the Audit Notebook?
