question archive 5- Calculate Surplus/ Deficit of Underwriting funds from the following data: Premium Collected from Policy Holders= 150,000 Indemnities paid out for claims = 43% Retakaful expenses = 30000 wakala fee = 20000 6- Calculate Surplus/ Deficit of Underwriting fundsfor one year from the following data: Premium contributions received for the period 4500 per month (45 Participants) Indemnities paid out for claims = 78,900 Retakaful expenses = 20% of Takafuls contributions wakala fee = 19500 underwriting expenses = 32000
5- Calculate Surplus/ Deficit of Underwriting funds from the following data: Premium Collected from Policy Holders= 150,000 Indemnities paid out for claims = 43% Retakaful expenses = 30000 wakala fee = 20000 6- Calculate Surplus/ Deficit of Underwriting fundsfor one year from the following data: Premium contributions received for the period 4500 per month (45 Participants) Indemnities paid out for claims = 78,900 Retakaful expenses = 20% of Takafuls contributions wakala fee = 19500 underwriting expenses = 32000
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5- Calculate Surplus/ Deficit of Underwriting funds from the following data:
Premium Collected from Policy Holders= 150,000
Indemnities paid out for claims = 43%
Retakaful expenses = 30000
wakala fee = 20000
6- Calculate Surplus/ Deficit of Underwriting fundsfor one year from the following data:
Premium contributions received for the period 4500 per month (45 Participants)
Indemnities paid out for claims = 78,900
Retakaful expenses = 20% of Takafuls contributions
wakala fee = 19500
underwriting expenses = 32000
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5.) Surplus/Deficit of underwriting funds = Premium collected from policyholders - Indemnities paid out - Retakaful expenses - Wakala fee
= 150,000 - 43%*150,000 - 30,000 - 20,000 = 150,000 - 64,500 - 50,000 = 35,500
Thus, there is a surplus of underwriting funds of 35,500
6.) Surplus/Deficit of underwriting funds = Premium collected from policyholders - Indemnities paid out - Retakaful expenses - Wakala fee - Underwriting expenses
= 4500*12*45 - 78,900 - 20%*4500*12*45 - 19500 - 32000 = 24,30,000 - 78,900 - 486,000 - 51,500 = 18,13,600
Thus, there is a surplus of underwriting funds of 18,13,600
