POI Unit 1 Quizziz

In an agency, the insurer is known as the 

• Agent

• Intermediary

• Customer

• Principal

MoneySmart and Singsaver are examples of which type of distribution channels?

• Bancassurance

• Online internet portals

• Web Aggregators

• Insurance Trade Associations

Which of the following is not a feature of an Insurance Broker.

• Can represent any number of insurers.

• Appointed through letter of appointment of insured.

• Receives commission.

• Licensed under the Insurance Act administered by MAS.

Which type of broker carries on general business and long term accident and health policies?

• direct insurance broker

• general reinsurance broker

• life insurance broker

• insurance broker

__________refers to a licensed company that provides insurance to its parent organization or affiliates.

• Direct Insurer

• Reinsurer

• Captive Insurer

• Captive Reinsurer

An applicant to be an agent representing an insurance agency , which is a company registered with ACRA must have a minimum paid-up capital of 

• $15,000

• $20,000

• $25,000

• $30,000

Under the General Insurance Association of Singapore (GIA), an agent can represent up to a maximum of how many general insurers?

• 1

• 2

• 3

• Any number of insurers.

Identify the Insurance body that serves as an industry examination entity to conduct regulatory exams for those who wish to join the finance and insurance industry.

• Singapore College of Insurance

• Insurance College of Singapore

• Singapore Insurance Brokers' Association

• Monetary Authority of Singapore

UOB Bank advertising Prudential's life insurance products to its customers is an example of ___________.

• Online internet portal.

• Bancassurance.

• Web Aggregators.

• Lloyd's of London.

An example of a buyer in an reinsurance market is 

• Individuals

• Government

• Direct Insurers

• Marine Mutuals.