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Ic 46 One Word Q A
Ic 46 One Word Q A
Ic 46 One Word Q A
REGULATION OF INVESTMENT
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IC 46 – one word questions
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IC 46 – one word questions
“BEST WISHES
TO YOU
ALL”
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IC 46 – one word questions
ANSWERS
1) 70
2) Accepted but not paid & claim intimated but not accepted and paid
3) Relation
7) Excluded
11) AS 01
16) Insurance Act, 1938, Companies Act, 1956, AS issued by ICAI (Page
430)
19) AS 3, AS 13 & AS 17
20) Fire & Miscellaneous 50%; Marine Cargo 50%; Marine Hull 100% (Page
433)
21) Related and Maintenance Costs exceed the related reserve for
unexpected risks (Page 434)
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IC 46 – one word questions
22) Fair value: The lowest of the last quoted closing price in stock market
securities list (Page 435)
30) Over the contract period (or) period of risk (Page 483)
31) Share capital Rs.5, Borrowing and fair value charge account 5,6,7
(Page 489)
40) Book profit 1000+500. Dep. + increased creditors 600 – Income stock
600
48) Reinsurer
59) Actuarial valuation and the method used for accrual period; if not
based on actuary report.
61) 1st quarter 800 x 35/100 = Rs.280 lakhs; Annual Tax expenses =
Rs.17.5 lakhs ( II quarter 250 x 35/100 = Rs.87.5 lakhs; 3 rd quarter 87.5 x 3 =
Rs.262.5 lakhs (280 – 262.50 lakhs)
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IC 46 – one word questions
67) AS 17
70) AS 20
71) 100% Marine; 50% for other classes of business (Page 132)
80) Minimum Two – Non executive Director, CEO, Chief of Finance, Chief of
Investment decision and the appointed actuary (Page 606)
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IC 46 – one word questions
95) A True and Fair view of profit or loss and state of affairs of the entity
(Page 748)
97) Rs.155000/-
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