Questões de Concurso Público SUSEP 2006 para Analista Técnico - Tecnologia da Informação, Prova 1

Your answers to questions 41-43 must be based on the text below, which is entitled “Insolvencies/Guaranty Funds”:

Insolvencies/Guaranty Funds Source: www.iii.org Feb/ 2006 (Adapted)

The regulation of insurance company solvency is a function of the state. The Gramm-Leach-Bliley Financial Services Modernization Act of 1999, which allowed banks, securities firms, insurance companies and other financial services entities to affiliate and sell one another’s products, continues this practice. State regulators monitor the financial health of companies licensed to provide insurance in their state through analysis of the detailed annual fi nancial statements that insurers are required to file and periodic on-site examinations. When a company is found to be in poor financial condition, regulators can take various actions to try to save it. Insolvencies do occur, however, despite the best efforts of regulators.

According to the text, the regulation of insurance company solvency

Your answers to questions 41-43 must be based on the text below, which is entitled “Insolvencies/Guaranty Funds”:

  Insolvencies/Guaranty Funds Source: www.iii.org Feb/ 2006 (Adapted)

The regulation of insurance company solvency is a function of the state. The Gramm-Leach-Bliley Financial Services Modernization Act of 1999, which allowed banks, securities firms, insurance companies and other financial services entities to affiliate and sell one another’s products, continues this practice. State regulators monitor the financial health of companies licensed to provide insurance in their state through analysis of the detailed annual fi nancial statements that insurers are required to file and periodic on-site examinations. When a company is found to be in poor financial condition, regulators can take various actions to try to save it. Insolvencies do occur, however, despite the best efforts of regulators.

According to the text, “insolvencies do occur”, which means they

Your answers to questions 41-43 must be based on the text below, which is entitled “Insolvencies/Guaranty Funds”:

Insolvencies/Guaranty Funds Source: www.iii.org Feb/ 2006 (Adapted)

The regulation of insurance company solvency is a function of the state. The Gramm-Leach-Bliley Financial Services Modernization Act of 1999, which allowed banks, securities firms, insurance companies and other financial services entities to affiliate and sell one another’s products, continues this practice. State regulators monitor the financial health of companies licensed to provide insurance in their state through analysis of the detailed annual fi nancial statements that insurers are required to file and periodic on-site examinations. When a company is found to be in poor financial condition, regulators can take various actions to try to save it. Insolvencies do occur, however, despite the best efforts of regulators.  

In relation to the monitoring of the ?nancial health of companies licensed to provide insurance, the state regulators

Financial and Market Conditions
Source: www.iii.org Jan/2006 (Adapted)

Many forces affect the price, availability and security of the insurance product. Some are external, such as changes in interest rates and the stock market, regulatory activity, the number and severity of natural disasters, growth in litigation and rising medical costs. Others are internal, such as the level of competition

The insurance industry is cyclical. Rates and profits fluctuate depending on the phase of the cycle, particularly in commercial coverages. The profitability cycle may be somewhat different for different types of insurance. While the industy as a whole experienced one of its best years in recent history in 2004 and in the first half of 2005, losses associated with Hurricane Katrina, Rita and Wilma may wipe out the profits of many insurers and force some to raise additional capital. None of the major companies are likely to become insolvent, however.

In paragraph 1, the author

Financial and Market Conditions
Source: www.iii.org Jan/2006 (Adapted)

Many forces affect the price, availability and security of the insurance product. Some are external, such as changes in interest rates and the stock market, regulatory activity, the number and severity of natural disasters, growth in litigation and rising medical costs. Others are internal, such as the level of competition

The insurance industry is cyclical. Rates and profits fluctuate depending on the phase of the cycle, particularly in commercial coverages. The profitability cycle may be somewhat different for different types of insurance. While the industy as a whole experienced one of its best years in recent history in 2004 and in the first half of 2005, losses associated with Hurricane Katrina, Rita and Wilma may wipe out the profits of many insurers and force some to raise additional capital. None of the major companies are likely to become insolvent, however.

In paragraph 2, the insurance industry is described as cyclical. Thus, it is characterized by elements which

Financial and Market Conditions
Source: www.iii.org Jan/2006 (Adapted)

Many forces affect the price, availability and security of the insurance product. Some are external, such as changes in interest rates and the stock market, regulatory activity, the number and severity of natural disasters, growth in litigation and rising medical costs. Others are internal, such as the level of competition

The insurance industry is cyclical. Rates and profits fluctuate depending on the phase of the cycle, particularly in commercial coverages. The profitability cycle may be somewhat different for different types of insurance. While the industy as a whole experienced one of its best years in recent history in 2004 and in the first half of 2005, losses associated with Hurricane Katrina, Rita and Wilma may wipe out the profits of many insurers and force some to raise additional capital. None of the major companies are likely to become insolvent, however.

The text informs us that

The Tipping Point
Source: Newsweek Special Edition Dec 2005 – Feb 2006 (Adapted)

The world of tomorrow is not a world based on a supra- structure of nation-states. It is a world where business is a major shaper not only of economic developments but also of social developments; it is also a world where civil society feels deeply engaged. The only way to foster progress is to knit together the best minds, the most powerful leaders and the truly committed people to jointly define the problems, jointly propose innovative solutions and jointly engage in collaborative actions.

In a new form of global governance, multi-stakeholder networks, public-private partnerships and informal alliances of different actors will be the norm rather than the exception. The legitimacy of those platforms will depend less on a traditional “representative” process and much more on ongoing public acceptance and measurable gains.

Business has to play a very special role in such networks, as the generator of innovation. Of course, business has the primary motive of generating shareholder value, but it also has a great function as a social agent. Business is duty-bound to serve humankind by engaging with the other stakeholders of global society to address its challenges creatively and in a spirit of corporate global citizenship

According to the text,

The Tipping Point
Source: Newsweek Special Edition Dec 2005 – Feb 2006 (Adapted)

The world of tomorrow is not a world based on a supra- structure of nation-states. It is a world where business is a major shaper not only of economic developments but also of social developments; it is also a world where civil society feels deeply engaged. The only way to foster progress is to knit together the best minds, the most powerful leaders and the truly committed people to jointly de?ne the problems, jointly propose innovative solutions and jointly engage in collaborative actions.

According to the author, “the only way to foster progress is to knit together the best minds”. In other words, the best minds should

The Tipping Point
Source: Newsweek Special Edition Dec 2005 – Feb 2006 (Adapted)

The world of tomorrow is not a world based on a supra- structure of nation-states. It is a world where business is a major shaper not only of economic developments but also of social developments; it is also a world where civil society feels deeply engaged. The only way to foster progress is to knit together the best minds, the most powerful leaders and the truly committed people to jointly de?ne the problems, jointly propose innovative solutions and jointly engage in collaborative actions.

Paragraph 3 focus on the meaning of business

The Tipping Point
Source: Newsweek Special Edition Dec 2005 – Feb 2006 (Adapted)

The world of tomorrow is not a world based on a supra- structure of nation-states. It is a world where business is a major shaper not only of economic developments but also of social developments; it is also a world where civil society feels deeply engaged. The only way to foster progress is to knit together the best minds, the most powerful leaders and the truly committed people to jointly define the problems, jointly propose innovative solutions and jointly engage in collaborative actions.

The text details