BP Internal campaign 06.2024

Relate to Non-life insurance company, bonus, supporting fee and other benefits to Agent:

• 1. 1.Must not exceed 50% commission, on insurance policy basis

• 2.Must not exceed 100% commission, on insurance policy basis

• 3.Must not exceed 50% commission of total policies for each agent

• None of 1,2,3 is correct

• All of 1,2,3 are correct, depends on agent contract between Insurannce company & its agent

Company A & Company B have stock in same warehouse and buy 02 different insurance policies.
 In which, Sum insured for stock of each company is: A: VND100 bill and B: VND980bil. Deductible for Compulsory F&E:

• Each policy is VND100,000,000/ AOA

• A: VND40,000,000/ AOA & B: VND100,000,000/ AOA

• Each policy is VND40,000,000/ AOA

• All are correct

Is the following statement true or false: “Individuals are the subjects allowed to carry out insurance brokerage activities”

• TRUE

• FALSE

Types of insurance brokerage enterprises’ activities are (Multiple choices)

• Primary insurance brokerage activity

• Retrocession brokerage activity

• Reinsurance brokerage activity

• All are correct

Investors must purchase compulsory insurance for construction investment activities for all kinds of construction works

• TRUE

• FALSE

For compulsory insurance for construction investment activities, the increase or decrease of 25% premium is applicable to 

• Insured construction work whose value is under VND 1.000 billion, excluding installation or including installation but the cost for installation accounts for less than 50% of its total value

• Insured construction work whose value is under VND 1.000 billion, including installation and the cost for installation accounts for at least 50% of its total value

• Construction work whose value is at least VND 1.000 billion

• None of above

A compulsory professional liability insurance policy for construction investment consultancy covers until:

• the date of construction completed

• the end of maintenance period

• any of above, according to agreement between insurer and insured

Company A buy a compulsory insurance policy for its construction site personnel.
There is 01 additional worker on 25/3/2024 (1) and another one on 16/04/2024 (2).
Company A sent insurance company written notification of such changes on 17/04/2024 and settled premium for both additional workers on 14/05/2024
Which statement is correct for this case:

• Both additional workers are automatically covered under current insurance policy

• (1) is not covered due to late notice of company A

• (1) is covered with subject no loss up to notice date, (2) is covered as normal

• None of above

Among compulsory information in CTPL motor certificate, number code and barcode are not self-created and managed by each insurance company

• TRUE

• FALSE

Reinsurance brokerage commission shall be agreed by parties in accordance with:

• Vietnamese Law

• International Treaties

• International Practice

• International Trade law