Administrator

2978. Which is incorrect?

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Special reports like ECG, EEG, Chest x-ray reports etc are called for in large sums proposed and where the ages of the proposers are higher than otherwise
First insurance at age of 50 for a large sum proposed is a sign of moral hazard
Family history has no role in risk assessment
If there is no relationship between the proposer’s income and the sum proposed moral hazard is suspected
✅ The correct answer is C.
Family history plays a critical role in assessing the risk of inherited medical conditions and single gene disorders. Several methods have been established to obtain family medical histories, including the family history questionnaire or checklist and the pedigree.

2971. The decision function of financial management can be broken down into the__________ decisions.

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financing and investment
investment, financing, and asset management
financing and dividend
capital budgeting, cash management, and credit management
✅ The correct answer is B.
The decision function of financial management can be broken down into the investment, financing, and asset management decisions.

2972. If coefficients are similar for two accounting periods, then single cost relationship is estimated with help of

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data of fixed cost
cost driver of data
pool of data
cost object of data
✅ The correct answer is C.
If coefficients are similar for two accounting periods, then single cost relationship is estimated with help of pool of data. Cost pools is an accounting term that refers to groups of accounts serving to express the cost of goods and service allocatable within a business or manufacturing organization.

2974. Values recorded as determined in marketplace are considered as

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market values
book values
appreciated values
depreciated values
✅ The correct answer is A.
Values recorded as determined in marketplace are considered as market values. Market value is the price an asset gets in a marketplace. Market value also refers to the market capitalization of a publicly traded company.

2962. Identify the term of insurance that is depicted in the following scenario. Scenario: patient pays the health provider and is subsequently reimbursed by the health insurance company.

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Service Benefit
Direct Contracting
Indemnity
Casualty
✅ The correct answer is C.
Indemnity insurance protects against claims arising from possible negligence or failure to perform that result in a client’s financial loss or legal entanglement.

2964. What is correct in the following sentences?

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Claim is a demand on the insurer to honour contractual commitment to pay the policy money to the claimant
It s request made to the insurer by the claimant to settle payment
While in some claims, the contract comes to an end with payment in other cases the contract continues
All of the above
✅ The correct answer is D.
All the above statements are correct.
Claim is a demand on the insurer to honour contractual commitment to pay the policy money to the claimant, It s request made to the insurer by the claimant to settle payment and While in some claims, the contract comes to an end with payment in other cases the contract continues.

279. “Treating a revenue expenditure as a capital expenditure” is an example of

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Compensating error
Error of principle
Error of omission
Error of commission
✅ The correct answer is B.
“Treating a revenue expenditure as a capital expenditure” is an example of Error of principle. An error of principle is an accounting mistake in which an entry is recorded in the incorrect account, violating the fundamental principles of accounting. An error of principle is a procedural error, meaning that the value recorded was the correct value but placed incorrectly.