BP Internal Training - Equiz 11/2023

Having fire extinguishers and water sprinklers installed and maintained in a factory is an example of which risk management strategy?

• Risk control

• Risk avoidance

• Risk Transfer

Fill in the blank: “Reinsurance brokerage commission shall be agreed by parties in accordance with ______” (*)

• Vietnamese Law
• ​ International Treaties
• International Trade law

• International Practice

Is the following statement true or false: “Insurance enterprises and foreign branches are not authorized to authorize insurance broker enterprises to collect insurance premiums”? (*)

• TRUE

• FALSE

What is not an insurance claim procedure:

• Report the incident to the insurance company

• Subrogation process to the party responsible for the accident

• Complete insurance claim documents

• Making news across the national print media

What is correct about waiting period in healthcare insurance (*)

• 1. 1.Maximum 90 days for illness, 01 year for existing diseases, 270 days for maternity

• 2.Always starts from inception date of insurance policy

• None of above

• Both 1 & 2

If you pay a higher deductible, this generally ______ your premium.

• has no effect on

• raises

• lowers

What is correct for insurance policy through broker (*)

• Commission to broker for each class could be under or exceed 15% as long as overall rate of whole policy is not exceed 15% of original premium.

• Commission to broker must be settled within 30 days from inception date/ effective date of insurance policy.

• Commission to broker is settled as agreement between insurer and broker company, but in no case exceeds 30 days from the receipt date of original premium that customer made payment to insurer.

• All answers are correct

The bonus, supporting fee and other benefits that an insurance agent could enjoy in a financial year from insurance company in no case exceeds 100% agent commission of all insurance policy through such agent (*)

• TRUE

• FALSE

New ISR policy has inception date 01/11/2023. MKT issues hold cover until 30/11/2023. Confirmation date on quotation is 15/11/2023 due to customer's internal procedure. What is the premium due date?

• 30/11/2023

• 14/12/2023

• 29/12/2023