Treatment of Risk

What is the primary reason for the importance of treatment of risk in Takaful?

• To reduce the cost of insurance.

• To prevent financial losses and manage disasters.

• To avoid customer complaints.

• To create a new product.

What is the main problem addressed in the first issue (Human Resources Risk)?

• Lack of proper marketing strategies.

• Lack of training among staff.

• Lack of proper financial management.

• Lack of number of staff.

What is the solution presented to the Human Resources Risk?

• Increasing staff salaries.

• Hiring more staff.

• Training staff to enhance their knowledge and skills.

• Reducing the number of customer.

What does “adverse selection” in underwriting refer to?

• The selection of participants who hide their health issues.

• The selection of participants with low health risk.

• The selection of high income individuals

• The selection participants who do not need takaful.

What is the primary goal of fraud detection team in takaful?

• To manage staff performance.

• To offer discount to participants.

• To provide medical coverage.

• To monitor claims and fraudelent activities

What is the main issue highlighted in the Package Rahmah Takaful?

• High insurance premium

• Lack of coverage for high risk individuals

• The affordability and fairness of premium for B40 groups

• Inefficient customer support

What is the proposed solution for the issue in Package Rahmah Takaful?

• Increase the premium for ALL participants

• Provide discount for HIGH RISK individuals

• Reduce coverage for LOW RISK individual

• Introduce a RISK BASED contribution system

How does the risk based contribution system work in the context of Package Rahmah Takaful?

• LOW RISK participant pay lower premiums and HIGH RISK participant pay higher premiums

• ONLY HIGH RISK individuals are covered

• ALL participants pay the same amount but get different levels of coverage

• ALL participants pay the same amount regardless of the risk

What was the rider’s disease mentioned in the last issue?

• High Blood Pressure

• Lung Cancer

• Diabetes

• Low Blood Pressure

Which documents mentioned by the staff to sort out the claim of the participant? (Hint: Issue 1 — human resource risk)

• ID

• Claims form

• Salary Slip

• Medical Records

• Birth Certificate