A
Expenses of Management
B
Premium Subvention
C
Expense Ratio
D
Solvency Ratio
Correct answer: (a) Expenses of Management
Explanation
Expenses of Management refers precisely to the total operating costs incurred by an insurer, including administrative expenses and commission payouts. Expense ratio is a percentage metric, solvency ratio assesses capital buffers, and premium subvention is unrelated to insurer operational overheads.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.