The commission given by insurance companies to others for receiving business under reinsurance is called …………………

Related MCQs

• The commission earned by insurance companies from others for giving them business under reinsurance is called …………………
• From the following details what will be the partners‘ commission? Net profit before charging partners‘ commission `65,000. Partners‘ commission @ 11% after charging such commission
• From the following details what will be the partners‘ commission? Net profit before charging partners‘ commission `65,000. Partners‘ commission 11% before charging such commission
• A is entitled to 10% partner‘s commission before charging such commission. Find the commission payable to A if the net profit before charging such commission amounted to ` 60,000
• L of Lucknow consigned goods costing ` 60,000 to A of Allahabad at an invoice price bearing 331/3 % mark up on the cost price. Goods costing ` 15,000 were damaged in the transit and the insurance company admitted the claim in full. Expenses incurred by the consignor on loading and transportation of the goods amounted to ` 1,800. The consignee incurred ` 200 on cartage and ` 6,000 as Godown Rent and sold 2/3 of the goods received by him at the invoice price. He is entitled to 5% normal commission and 2.5% del credere commission. Find the value of goods sold
• A company registered with Registrar of Companies under Indian Companies Act is called as………..
• Insurance business in India is regulated by …………. A. LIC B. IRDA C. RBI D. SEBI 193. Under …………., the sum assured is given to the beneficiary only on death of policyholder.
• 1. The underwriting commission in the case of debentures as per Companies Act, should not exceed_________
• The underwriting commission in the case of debentures as per Companies Act, should not exceed_________
• A and B enter into a joint venture sharing profit and losses in the ratio of 3:2. A purchased goods costing `2,00,000. B sold 95% goods for ` 2,50,000. A is entitled to get 1% commission on purchase and B is entitled to get 5% commission on sales. A drew a bill on B for an amount equivalent to 80% of original cost of goods. A got it discounted at `1,50,000. What is A's share of profit?