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ISR3701 Assignment 2 semester 2 2024 distinction guarantee
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ISR3701 Assignment 2 second semester 2024 30 MCQ Searchable document
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Summary of your previousattempts
Marks Grade
/ /
npt State 30.00 100.00 =Re
Finished 28.00 93.33
Submitted
Saturday,
31 August
2024,
9:08 AM
Highest grade:
93..00.
,What is the primary role of the
Prudential Authority in regulating the
South African non-life insurance
industry?
O 1. To approve the marketing
materials used by insurers
to promote their products
to consumers.
fo] 2. To ensure the financial
soundness of insurers and
their ability to meet their
obligations to
policyholders.
O 3. To investigate and
prosecute cases of
insurance fraud committed
, | OG ee Fe a ee Eee
Ziphozonke Insurer, a leading
insurance company in South Africa,
recognised the growing threat of
cyberattacks and the increasing
need for robust cyber liability
insurance solutions among
businesses. To address the need for
these solutions, Ziphozonke Insurer
decided to introduce a new and
innovative cyber liability insurance
policy tailored specifically for South
African businesses. What regulatory
approval must the insurer obtain
before it starts selling this new
product to the public?
|. The insurer must register
the new policy with the
Financial Sector Conduct
Authority to demonstrate
compliance with industry
standards.
, In what way does the "fit and proper"
requirement under the Financial
Sector Regulation Act affect
individuals who hold Time left 0:26:33
insurance companies?
© It dictates the dress code
and personal appearance
standards for insurance
executives at industry
events.
O) & It requires all employees of
an insurance company to
have a university degree in
insurance or a related field.
3. It requires individuals in
significant roles to meet
standards of honesty,
integrity, and competence
to safeguard the insurance
industry's reputation.
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