Saudi Electronic University Insurance Accounting Questions
Can you succor me recognize this Accounting doubt?
Q1. The forthcoming financial transactions are allied after a while a General Takaful Product:
i.An sum of SAR 6,200 accepted as past subscription from new participants.
ii.An sum of SAR 4,500 accepted as a subscription from new participants.
iii.Contribution possession accepted from participants SAR 5,500.
You are required to adapt needful chronicle entries.(1.5 Marks)
Q2. Discuss the three original methods used by Guaranty Fund to assess resources and burden security using your own vote.(2 Marks)
Q3. XYZ Company has the forthcoming financial data:(1.5 marks)
Total Profit for the Year
General Takaful Assets (Year 2014)
General Takaful Assets (Year 2015)
Short order liabilities
Underwriting Surplus Distributable to Participants/Participants' Share of Profit
Net Claim Incurred
You are required to calculate:
- Return on Assets
- Quick Liquidity
- Surplus Distribution Ratio
- Expense Ratio
- Claims Ratio