Top Gun Reinsurance Quiz

1.

1 point

Which of the following is the P&C 2014-15 program structure’s primary focus?

Protection against the extreme catastrophic events (long-term view)

Protecting the earnings volatility (short-term view)

Both

Neither

2.

1 point

Over the past 8 years, what has been the financial impact of internal reinsurance?

Retained $661M of premium

Incurred loses of $153M

Net retained underwriting profit of $508M

All of the above

3.

1 point

Reinsurance is a means of transferring _____ to another company?

Risk

Payments

Premiums

Contracts

4.

1 point

What is the goal of Global Retrocession?

To achieve maximum diversification

To pool risk from thousands of underlying customers

To write treaties covering insurers loss

All of the above are goals

5.

1 point

The Standard Commercial umbrella portfolio is covered for policy limits greater than _____?

$10M

$40M

$5M

$25M

6.

1 point

The Enterprise treaty covers all P&C business units for individual property risks above what retention level?

$5M

$25M

$10M

$40M

7.

1 point

What is the best use of Effective Excess Capital?

Deploy for Growth or Acquisitions

Save for future expenses

Pay off debt

All of the above

8.

1 point

Which is the primary source of capital?

Growth

Return

Capital

They are all equal sources

9.

1 point

Which of the following became effective January 2015?

Internal reinsurance was decreased

Internal reinsurance was consolidated into P&C

Internal reinsurance was increased

Internal reinsurance was discontinued

10.

1 point

Which is not a key consideration in Property Catastrophe Risk Transfer?

Efficiency

Term

Geographic concentration

The Specific Reinsurer

11.

1 point

The program evolution of transitioning towards one large enterprise_____?

Values the total program limit at $0

Keeps the total program limit the same($)

Decreases the total program limit ($)

Increases the total program limit ($)

12.

1 point

The program evolution of transitioning towards one large enterprise causes the Ceded Premium to_____ ?

Remain the same

Increase

Unknown, not enough information

Decrease

13.

1 point

What is Per Occurrence reinsurance?

Reinsurance covers loss across many different policies

Reinsurance kicks in above a given aggregate amount across policies from any single event

Reinsurance kicks in above a given aggregate amount across policies from many different events

Reinsurance covers loss from a single policy