An agent shall remit direct to his principal or deposit into a bank account designated by and in the name of the principal the contribution collection within

I. CBC is collected within 7 working days from the date of collection or inception of the certificate whichever is earlier for Motor

II. CBC for Individual PA or Travel PA all contribution must be remitted within 15 days

III. Premium Warranty allows a maximum 60 days for remittance for other classes

IV. CBC for Medical Takaful within 30 days collection of contributions

Among the important sales principals that an agent must abide by includes

I. Make prior appointment and identify own self

II. Recommend certificate suitable to needs

III. Recommend other specialist when necessary

IV. Treat all information by prospect confidential

An Agent must ensure observation of the following factors when explaining the contract except

An Agent must ensure they are able to meet a Minimum Maintenance Requirement of sufficient business which should be achieved within the first two years of

An Agents license can be cancelled or suspended or may not be approved for registered if he is found to be

I. Of unsound mind

II. Convicted of criminal misappropriation, CBT

III. Fraud, dishonesty

IV. Has outstanding debts

General Takaful Agents Registration Regulations (GTARR) requires all agents to

I. To have a certificate of Registration valid for two years.

II. The display at all times his Certificate of registration at his business place

III. Proper office premises to transact takaful business

IV. A valid license obtained by local council

Inter Takaful Operator‟s Agreement on General Takaful Business was NOT designed to

When dealing with Agents, the Takaful Operators must ensure

The scope of an agent will be to

Members of MTA must always

I. Keep a complete and up to date records of all their agents, corporate agents, directors, shareholders and corporate nominees

II. maintain proper and accurate accounts showing the amount of commission paid

III. Provide to the Board with any information concerning any of their agents as and when requested.

IV. Suspend agents that are not performing after one year operations

The Motor Tariff provides for

Physical Hazard relates to the physical aspects of the risk and can influence the occurrence of a loss. Examples of Physical Hazards are

i. type of goods

ii. flammable liquids

iii. gambling habit of owner

iv. building construction type

The concept of indemnity ensures that

Contribution will only apply where the following conditions are met

i. all policies covers a common peril, which gave rise to the loss

ii. two or more policies of indemnity exist and are in force

iii. all policies covers a common interest

iv certain certificates are not liable for the loss

What would be the compensation for the following claim based on Indemnity ?

Sum covered : RM100,000

Market Value:- RM50,000

Loss Amount :- RM20,000

Which of the following is not the work of a Risk Surveyor?

The boiler and pressure vessel insurance incorporates an inspection service and provides cover against the following ,except

The operative Clause contains

A Claimant must immediately do the following in an event of a loss

I. Immediate notification of loss is obligatory

II. the participant must try to minimize the loss

III. Immediately appoint the Loss Adjuster

IV. Look for parts for the damaged items

The following documents will be required when claiming for loss or damages under Fire Takaful

I. Photographs

II. Purchase invoices, repair bills, sales record

III. Police report (where damage is extensive)

IV. Fire brigade report (where damage is extensive)

NO QUESTION 22

The method of claims settlement by the takaful Operator may include

I. Cash-payment of claim by cheque, or

II. Repair

III. Replacement

IV. Reinstatement

Dispute is resolved through the following channels:-

I. Negotiation

II. Litigation

III. Arbitration

IV. Mediation

Repudiation of liability can be based on the following grounds except:-