Lloyds Quiz

Submit

2. Syndicate means

A member or group of members underwriting insurance business at Lloyd’s through the agency of a managing agent

Corporate Funds

Individual Funds

3. A "placing slip" is a document created by a broker that contains a summary
of the terms of a proposed insurance or reinsurance contract which
is then presented by the broker to selected underwriters for their consideration.

TRUE

FALSE

4. A single risk can be divided into multiple sections and can be underwritten by multiple syndicates sectionwise

True

False

5. A type of reinsurance in which the reinsurer shares similar proportions of the premiums earned and the claims incurred by the reassured plus certain associated expenses is referred to as______________ Reinsurance

Proportional

Non Proportional

None of the above

6. State whether true or false .

Lloyds is an insurance company

True

False

7. When two or more insurers underwrite the same risk, it is referred as ____________

Reinsurance

Coinsurance

None of the above

Submit

9. _______________ is an example of non-proportional reinsurance.

Excess of Loss reinsurance

Quota Share Treaty reinsurance

Surplus Line Treaty reinsurance

10. Premium Out / Claims In is known as _____________ transaction

Inward

Outward

None of the above

11. Premium In / Claims Out is known as _____________ transaction

Inward

Outward

None of the above

Submit

13. How many syndicates does KILN manage at Lloyd’s?

3

4

5

14. _______ messages are received from the Lloyd’s accounting system as notification of new Claims and Claim Movements created outside of Kiln

SCM

USM

None of the above

15. State whether true /False

Coverholder can sign and issue a contract.

True

False

16. It is mandatory that syndicate level direct underwriters should reinsure all risks underwritten by them

True

False

17. State whether the foll is true or False

An individual / corporate representatives can directly enter into Lloyd’s market and can do transaction with the underwriters

True

False

18. An underwriter cannot be appointed by

Managing Agent

Coverholder

Lloyd’s Members

19. The ________ message often (not always) has a breakdown of the reinsurers we're paying or claiming from

SCM

USM

LORS

20. Binding Authority is an agreement entered between ____ and

Lloyd’s Members and Managing Agent

Managing Agent and Coverholder

Underwriter and Managing Agent

Lloyds Quiz

1. IBNR stands for ___

2.

What first name or nickname would you like us to use?

2. Syndicate means

3. A "placing slip" is a document created by a broker that contains a summary
of the terms of a proposed insurance or reinsurance contract which
is then presented by the broker to selected underwriters for their consideration.

4. A single risk can be divided into multiple sections and can be underwritten by multiple syndicates sectionwise

5. A type of reinsurance in which the reinsurer shares similar proportions of the premiums earned and the claims incurred by the reassured plus certain associated expenses is referred to as______________ Reinsurance

6. State whether true or false .

Lloyds is an insurance company

7. When two or more insurers underwrite the same risk, it is referred as ____________

8. Reinsurer’s Reinsurance is known as _____________

9. _______________ is an example of non-proportional reinsurance.

10. Premium Out / Claims In is known as _____________ transaction

11. Premium In / Claims Out is known as _____________ transaction

12. A number of underwriters may accept portions of one risk. This is known as a ____________ market.

13. How many syndicates does KILN manage at Lloyd’s?

14. _______ messages are received from the Lloyd’s accounting system as notification of new Claims and Claim Movements created outside of Kiln

15. State whether true /False

Coverholder can sign and issue a contract.

16. It is mandatory that syndicate level direct underwriters should reinsure all risks underwritten by them

17. State whether the foll is true or False

An individual / corporate representatives can directly enter into Lloyd’s market and can do transaction with the underwriters

18. An underwriter cannot be appointed by

19. The ________ message often (not always) has a breakdown of the reinsurers we're paying or claiming from

20. Binding Authority is an agreement entered between ____ and

Lloyds Quiz

1. IBNR stands for ________ ____ ____ ___________

2.

What first name or nickname would you like us to use?

2. Syndicate means

3. A "placing slip" is a document created by a broker that contains a summary of the terms of a proposed insurance or reinsurance contract which is then presented by the broker to selected underwriters for their consideration.

4. A single risk can be divided into multiple sections and can be underwritten by multiple syndicates sectionwise

5. A type of reinsurance in which the reinsurer shares similar proportions of the premiums earned and the claims incurred by the reassured plus certain associated expenses is referred to as______________ Reinsurance

6. State whether true or false .Lloyds is an insurance company

7. When two or more insurers underwrite the same risk, it is referred as ____________

8. Reinsurer’s Reinsurance is known as _____________

9. _______________ is an example of non-proportional reinsurance.

10. Premium Out / Claims In is known as _____________ transaction

11. Premium In / Claims Out is known as _____________ transaction

12. A number of underwriters may accept portions of one risk. This is known as a ____________ market.

13. How many syndicates does KILN manage at Lloyd’s?

14. _______ messages are received from the Lloyd’s accounting system as notification of new Claims and Claim Movements created outside of Kiln

15. State whether true /False Coverholder can sign and issue a contract.

16. It is mandatory that syndicate level direct underwriters should reinsure all risks underwritten by them

17. State whether the foll is true or False An individual / corporate representatives can directly enter into Lloyd’s market and can do transaction with the underwriters

18. An underwriter cannot be appointed by

19. The ________ message often (not always) has a breakdown of the reinsurers we're paying or claiming from

20. Binding Authority is an agreement entered between ______________ and __________

1. IBNR stands for ___

3. A "placing slip" is a document created by a broker that contains a summary
of the terms of a proposed insurance or reinsurance contract which
is then presented by the broker to selected underwriters for their consideration.

6. State whether true or false .

Lloyds is an insurance company

15. State whether true /False

Coverholder can sign and issue a contract.

17. State whether the foll is true or False

An individual / corporate representatives can directly enter into Lloyd’s market and can do transaction with the underwriters

20. Binding Authority is an agreement entered between ____ and