what is commercial insurance ? how can i do commercial insurance course ? suggest me some best insurance courses ?
Commercial insurance protects businesses from financial losses arising from various unforeseen events. It's distinct from personal insurance you might have for your car or home.C ommercial insurance provides peace of mind and financial stability for businesses. It helps ensure they can recover from unforeseen events without facing crippling financial burdens.
- Organizations like The Institutes (formerly IIII) and the National Alliance for Insurance Education & Research (NAIER) offer online and in-person courses leading to certifications like the Associate in Commercial Insurance (ACI) or Certified Insurance Counselor (CIC).
- Websites like Udemy, Coursera, and edX offer various insurance-related courses, including those focused on commercial insurance.
- Some insurance companies provide training programs for brokers, agents, and underwriters.
Answer laterQuestion : Which of the following is not a function of the Securities and Exchange Board of India (SEBI)?
Option 1: Regulating the stock market
Option 2: Regulating the mutual fund industry
Option 3: Regulating the insurance industry
Option 4: Protecting the interests of investors
Correct Answer: Regulating the insurance industry
Solution : The answer is (c) Regulating the insurance industry.
SEBI is the regulatory body for the securities market in India. It does not regulate the insurance industry. The insurance industry is regulated by the Insurance Regulatory and Development Authority of India (IRDA).
Question : Sun pharma Ltd., reported Net Profit after Tax of Rs. 6,10,000 for the year ended 31 st March, 2020. The relevant extract from Balance Sheet as at 31 st March, 2020 is:
| Particulars | 31st march, 2020(Rs) | 31st march, 2019(Rs) |
| Inventories | 1,15,000 | 1,25,000 |
| Prepaid Expenses | 20,000 | 6,000 |
| Trade Payables | 1,10,000 | 80,000 |
| Provision for Tax | 20,000 | 15,000 |
Depreciation charged on Plant and Machinery Rs. 55,000, tax provided during the year Rs 15,000 and insurance claim received Rs. 50,000, gain (profit) on sale of investment Rs. 20,000 appeared in the Statement of Profit and Loss for the year ended 31st March, 2020.
Cash Flow from Operating Activities are ____________.
Option 1: Rs 6,36,000
Option 2: Rs 6,66,000
Option 3: Rs 6,96,000
Option 4: Rs 6,86,000
Correct Answer: Rs 6,86,000
Solution : Answer = Rs 6,86,000
| Provision for tax a/c | |||
| To Cash(paid) | 1,000 | By Bal b/d | 15,000 |
| To bal c/d | 20,000 | By tax provided | 15,000 |
| 30,000 | 30,000 | ||
| N.P After charging Tax and Extraordinary items | 6,10,000 |
| (+) Tax charged | 15,000 |
| (-) Insurance claim received | (50,000) |
| NP Before tax and Extraordinary items | 5,75,000 |
| Cash flow from operating activities | |
| NP before tax | 5,75,000 |
| (+) Dep | 55,000 |
| (-) Profit on sale of fixed asset | (20,000) |
| op. Profit Before the Change in Working Capital | 6,10,000 |
| (+)Decrease in CA/ Increase in CL | |
| Inventories=10,000 | |
| Tax payable=30,000 | 40,000 |
| (-)Increase in CA/ Decrease in CL(Prepaid expenses) | (14,000) |
| (+)Insurance claim received | 50,000 |
| Operating profit before a change in working capital | 6,86,000 |
Hence, the correct option is 4.
Question : Which among the following was set up in 1956 by the Indian Government by nationalising all the existing private sector life insurance companies?
Option 1: United India Insurance Company Limited
Option 2: General Insurance Corporation of India
Option 3: New India Assurance Company Limited
Option 4: Life Insurance Corporation of India
Correct Answer: Life Insurance Corporation of India
Solution : The correct option is Life Insurance Corporation of India.
The Government of India nationalised the private life insurance companies already in operation, creating the Life Insurance Corporation of India (LIC) in 1956. The action, which was a component of the banking sector's nationalisation agenda, resulted in the establishment of a state-owned monopoly in India's life insurance market.
Question : Medical Insurance Scheme for State Employees and Pensioners (abbr. MEDISEP) is a unique and comprehensive social insurance scheme. This scheme was implemented by which state government?
Option 1: Karnataka
Option 2: Chhattisgarh
Option 3: Kerala
Option 4: Rajasthan
Correct Answer: Kerala
Solution : The correct answer is Kerala.
All active and retired employees of the Kerala State Government and the Kerala High Court currently covered by the Kerala Government Servants Medical Attendant Rules [1960] are to receive full medical insurance coverage under the MEDISEP scheme.
Question : The General Insurance (Amendment) Act, 2021 removes the provision that required the Central Government to have at least __________ownership in four subsidiaries of General Insurance Company, namely, National Insurance, New India Assurance, Oriental Insurance, and United India Insurance.
Option 1: 75%
Option 2: 49%
Option 3: 51%
Option 4: 80%
Correct Answer: 51%
Solution : The correct answer is 51%.
The General Insurance (Amendment) Act of 2021 removes the provision that required the Central Government to have at least 51% ownership in four subsidiaries of General Insurance Company, namely, National Insurance, New India Assurance, Oriental Insurance, and United India Insurance. The bill increases the limit on foreign investment in an Indian insurance company from 49% to 74% and removes restrictions on ownership and control.
Question : Which of the following is a regulatory authority for the Indian stock market?
Option 1: RBI (Reserve Bank of India)
Option 2: SEBI (Securities and Exchange Board of India)
Option 3: IRDAI (Insurance Regulatory and Development Authority of India)
Option 4: PFRDA (Pension Fund Regulatory and Development Authority)
Correct Answer: SEBI (Securities and Exchange Board of India)
Solution : The correct answer is (b) SEBI (Securities and Exchange Board of India).
SEBI (Securities and Exchange Board of India) is the regulatory authority for the Indian stock market. It is an independent statutory regulatory body established in 1988 and operates under the jurisdiction of the Ministry of Finance, Government of India. SEBI's primary objective is to protect the interests of investors and promote the development and regulation of the securities market in India.
SEBI plays a vital role in regulating various participants in the Indian securities market, including stock exchanges, brokers, merchant bankers, portfolio managers, and other market intermediaries.
Question : Which regulatory body oversees microfinance institutions in India?
Option 1: Reserve Bank of India (RBI)
Option 2: Ministry of Finance
Option 3: Insurance Regulatory and Development Authority of India (IRDAI)
Option 4: Securities and Exchange Board of India (SEBI)
Correct Answer: Reserve Bank of India (RBI)
Solution : The correct option is the Reserve Bank of India (RBI).
The regulatory body that oversees microfinance institutions in India is the Reserve Bank of India (RBI). The RBI regulates and supervises microfinance activities in the country to ensure their stability and compliance with applicable regulations.
Question :
Which one of the following disburses long-term loans to private industry in India?
Option 1:
Food Corporation of India
Option 2:
Life Insurance Corporation of India
Option 3: Primary Credit Society
Option 4: Land Development Banks
Correct Answer: Land Development Banks
Solution : The correct answer is Land Development Banks.
The Land Development Bank is a commercial type of bank in India. The first bank was initiated in 1960 in Punjab to develop land and agriculture. It provides medium and long-term loans to small and medium-scale industries.
What is the average packagefor MBA insurance in NLU jodhpur
Hi!
National Law University, Jodhpur offers an MBA in Insurance programme through its School of Insurance Studies . Every year, a number of reputed domestic and International Law Firms, and Insurance companies participate in the placement process, and hire students. According to the placement data released by the NLU Jodhpur , the highest package offered to the MBA Insurance programme students stood at Rs. 6.25 LPA, and the average package of the placed graduates stood at Rs. 5 LPA . A number of Insurance companies, Broking Houses and Law firms hire students.
