SCDL Assignment on Insurance Accounting and Insurance Environment

SCDL Assignment on Insurance Accounting and Insurance Environment

Select The Blank
Question Cash flows arising from transactions in ________ currency should be recorded in an enterprise's reporting currency by applying the exchange rate at the date of the cash flow.
Correct Answer foreign
Your Answer foreign

Multiple Choice Single Answer
Question Writing the transactions in a notebook is called as -
Correct Answer Book-keeping
Your Answer Book-keeping

Select The Blank
Question Information adds ________ to data.
Correct Answer context
Your Answer context

Multiple Choice Multiple Answer
Question An active market shall mean a market, where -
Correct Answer securities traded are homogeneous , willing buyers and willing sellers are normally available , prices are publically available.
Your Answer securities traded are homogeneous , willing buyers and willing sellers are normally available , prices are publically available.

Multiple Choice Single Answer
Question American institute of Certified Public Accountants has given the most widely accepted definition of -
Correct Answer Accountancy
Your Answer Accountancy


Multiple Choice Single Answer
Question During 1986 to 1993, 1000 computers were installed in wide geographical spread, which spread computer awareness and -
Correct Answer literacy
Your Answer literacy

Multiple Choice Multiple Answer
Question In DO System output related to commission summary are generated -
Correct Answer agentwise , classwise , development officerwise
Your Answer agentwise , classwise , development officerwise

Multiple Choice Single Answer
Question CPU in the computer acts like a -
Correct Answer Brain
Your Answer Heart

True/False
Question Underwriting, accounts & claims modules were integrated in DO System.
Correct Answer False
Your Answer True

Multiple Choice Multiple Answer
Question Which of the accounts are categorized under income accounts?
Correct Answer Sales account , Commission received
Your Answer Salary account , Commission received

True/False
Question DO system helped the accounts dept. in maintaining erroneous computerized books.
Correct Answer False
Your Answer True

True/False
Question Closing stock is an asset.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question The overall productivity can be increased by using computer as a tool for -
Correct Answer instituting library for circulars and manuals , office automation , conducting a detailed work study
Your Answer instituting library for circulars and manuals , office automation , conducting a detailed work study

Match The Following
Question
Correct Answer
Your Answer
General administration
leave types and calendar
leave types and calendar
Personnel information
name, address, job, qualification
name, address, job, qualification
Roster information
recruitment & promotion of RC
recruitment & promotion of RC
Promotion information
vacancies, eligible candidates
vacancies, eligible candidates


Multiple Choice Multiple Answer
Question DO System had master inputs like -
Correct Answer agent master , BG master , CD master
Your Answer CD master , agent master , BG master

True/False
Question Speakers are used for producing sound output.
Correct Answer True
Your Answer True

Select The Blank
Question ________ is a category of insurance.
Correct Answer Fire
Your Answer Fire

Multiple Choice Single Answer
Question The purpose of HRM system in the company is to help in retaining the best quality of -
Correct Answer personnel
Your Answer personnel

Multiple Choice Multiple Answer
Question According to AS 3, the enterprise should prepare cash flows from operating activities using either -
Correct Answer Fixed percentage method, Indirect method
Your Answer Direct method

Select The Blank
Question To obtain the relevant facts and figures, ________ documents are prepared.
Correct Answer source
Your Answer target

Multiple Choice Multiple Answer
Question The present organizational structure should always be understood in order to -
Correct Answer implement better management control and monitoring, improve efficiency, optimize resources
Your Answer implement better management control and monitoring improve efficiency, optimize resources

Multiple Choice Single Answer
Question What represents several different ways to organize computers & connecting them to form a network?
Correct Answer Topology
Your Answer Topology

Select The Blank
Question ________ client master input form was an input to the DO system.
Correct Answer special
Your Answer special

Multiple Choice Multiple Answer
Question These activities related to long term assets are investing activities.
Correct Answer Disposal , Acquisition
Your Answer Using , Acquisition

Select The Blank
Question POS means Point Of ________.
Correct Answer Sale
Your Answer Safety

Multiple Choice Single Answer
Question Fixed deposit details are recorded in -
Correct Answer Money market register
Your Answer Money market register

Select The Blank
Question Since the modules in then DO system were not integrated, there was lot of ________ entry.
Correct Answer double
Your Answer double

Multiple Choice Single Answer
Question Licensing regulations framed under IRDA act are for -
Correct Answer Insurance agents
Your Answer Insurance agents

True/False
Question The accounting estimate shall also include claims cost adjusted for estimated salvage value if there is sufficient degree of certainty of its realization.
Correct Answer True
Your Answer True

Match The Following
Question
Correct Answer
Your Answer
claims statistics database
item, category, type etc. of claim
item, category, type etc. of claim
Underwriting Database
Summarization of policies
Consolidated underwriting details
Underwriting Statistics Database
Consolidated underwriting details
client details
Claims database
claims processed
claims processed

Multiple Choice Multiple Answer
Question Each account has to be classified properly between -
Correct Answer Personal account , Real account , Nominal account
Your Answer Personal account , Trading account

Multiple Choice Single Answer
Question In ancient times, man started exchanging commodities he produced for the commodities produced by others. This is called as -
Correct Answer Barter exchange
Your Answer Barter exchange

Select The Blank
Question Contents of the management report include disclosures with regard to overall risk exposure and strategy adopted to ________ the same.
Correct Answer mitigate
Your Answer intimate

True/False
Question DO system generated an output report named excess / long register.
Correct Answer False
Your Answer False

True/False
Question Claim intimation slip and claim processing slip are same.
Correct Answer False
Your Answer False

Select The Blank
Question Cash deposit & withdrawal transactions are recorded with the help of ________ entry.
Correct Answer Contra
Your Answer Controversial

Multiple Choice Multiple Answer
Question The people associated with any computer system are -
Correct Answer Developers , Users , Operators
Your Answer Developers , Users , Operators

Multiple Choice Single Answer
Question A reserve for unexpired risks shall not be less than as required by Insurance Act 1938, under Section -
Correct Answer 64V(1)(ii)(b)
Your Answer 64V(1)(ii)(b)

Multiple Choice Single Answer
Question In 1983, micro-processing was introduced with the -
Correct Answer DO system
Your Answer DO system

Select The Blank
Question Compilers translate a program written in ________ level language into machine code.
Correct Answer High
Your Answer Low

Multiple Choice Single Answer
Question What restricts copying software which are purchased or leased products ?
Correct Answer Licensing Agreement
Your Answer Licensing Agreement

Multiple Choice Multiple Answer
Question The total amount of cash deposited in a bank account is verified by -
Correct Answer Bank acknowledge stamp , Reconciliation statement
Your Answer No. of visits to the bank , Bank acknowledge stamp

True/False
Question Inventory control system helps in avoiding out of stock situation.
Correct Answer True
Your Answer True

Multiple Choice Multiple Answer
Question Characteristics of microcomputer are -
Correct Answer Small size , Economical , Limited internal memory
Your Answer Small size , Economical , Limited internal memory

Select The Blank
Question Irrecoverable amounts due from debtors are called as ________ debts.
Correct Answer Bad
Your Answer Poor

True/False
Question Provisions of Sec.616 of Companies Act are related to insurance companies.
Correct Answer True
Your Answer True

True/False
Question In Aug 2000, IRDA has issued regulations for financial statements.
Correct Answer True
Your Answer False