BP-Internal Training

Supporting fee to Agent for Compulsory Third party liability of Motor vehicle owner insurance policy:

• 100% of commission for each policy

• 50% of commission for each policy

• As long as combine with other bonuses and benefit, do not exceed 50% of commission of all non-life insurance policies marketed in the fiscal year

• Not applicable for insurance type

In case of transferring ownership of a motor vehicle:

• insurance benefits will be automatically transferred to the new motor vehicle owner, no further action required to former and new owner

• insurance benefits will be automatically transferred to the new motor vehicle owner, it depends on former & new owner's agreement to implement the registration procedures for transferring

• insurance benefits is not automatically transferred to the new owner of the motor vehicle. The former owner of the motor vehicle must return the Vehicle Registration Certificate to the competent authority for revocation, the organization or individual receiving the transfer of vehicle ownership shall implement the registration procedures for transferring

If the insurance policy issued before the effective date of Decree 67/2023/ND-CP, the insurance premium rate according to Decree 97/2021/ND-CP will be applied, So in case the insured assets decrease, which  premium rate shall be applied to make premium refund? 

• Decree 97/2021/ND-CP

• Decree 67/2023/ND-CP

According to Article 10 of Decree 67/2023/ND-CP, the Insurance Certificate must include information of:

• At least 2/3 information of Registration number, Chassis number, Engine Number

• At least 1/3 information of Registration number, Chassis number, Engine Number

• Registration number, Chassis number, Engine Number

Facility owner could buy CFI insurance for a part of the factory that is at risk of fire or explosion

• TRUE

• FALSE

The responsibility for determining the fire and explosion hazard code classification to determine the insurance premium rate belong to:

• Insurer

• Facility owner

• Authority

• Insurer or Facility owner as per agreement

According to Decree 67/2023/ND-CP, what is not the insured interests of CFI:

• Building

• Machinery & Equipment

• Stock

• Tools

• None of above

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 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.

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

• All are correct

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