Quiznetik

Banking and Insurance | Set 2

1. When did RBI introduced lead banks schemes

Correct : A. 1969

2. The banking activities performed by foreign multinational banks in a country

Correct : C. Off Shore Banking

3. Name the banking facility of 24 hours based on the voice processing facility available with bank computers

Correct : A. Tele banking

4. The settlement system which settle transaction on a one to one basis without adjusting debits against credits

Correct : B. Gross Settlement

5. In which year banking Ombudsman scheme introduced by RBI

Correct : D. 1995

6. Which of the following is not an innovative services

Correct : C. Accepting deposits

7. ………………………refers to a banking transactions routed through internet

Correct : B. Online banking

8. NPA stands for ……………………………………………..

Correct : B. None Performing Asset

9. CORE Banking means ………………………………………

Correct : A. Centralized online real time exchange

10. The use of technology and telecommunication systems in banking services is known as ………………………………

Correct : C. Hi-tech banking

11. EFT stands for ………………………………………………..

Correct : B. Electronic Fund Transfer

12. Name the electronic machine which is operated by the customer to make deposits and withdraws

Correct : B. ATM

13. The method of banking that allows customers to perform banking transactions through a bank’s website hosted in the internet

Correct : A. Internet banking

14. The mechanism by which a person can make purchases without immediate cash payment

Correct : A. Credit banking

15. ……………………………. Card which helps a person to purchase Goods and services and makes payment from his own deposit a/c

Correct : B. Debit card

16. ………………………………………. Is a valid contract between the insured and the insurer

Correct : B. Insurance

17. From the following, which is not a type of risk

Correct : D. Quantitative Risk

18. ………………………………………….means to make good the actual loss and nothing more than the actual loss

Correct : A. Indemnity

19. In insurance the risk is ………………………………………

Correct : B. Uncertain

20. From the following which is not a miscellaneous insurance?

Correct : C. Social

21. Marine insurance is for one year or for a …………………………….. Specified period

Correct : A. Voyage

22. The life insurance contract is expressed in a document known as ………………………………….

Correct : B. Policy

23. ……………………………………………….is a voluntary termination of the contract by the policy holder

Correct : B. Surrender

24. ……………………………………………..is concerned with overseas trade

Correct : C. Marine Insurance

25. ………………………………………..means good or commodities carried in a ship

Correct : B. Cargo

26. ………………………..in a social device for eliminating or reducing the loss of society from certain risk.

Correct : C. Insurance

27. Insurance provides security against …………………………..

Correct : C. Both (a) and (b)

28. ……………………………….is the party who agrees to compensate the other person against possible losses

Correct : B. Insurer

29. ……………………………….is the party who gets his life of property insured against risk

Correct : A. Insured

30. The insurer agrees to compensate the insurer in consideration of a sum of money is called

Correct : A. Premium

31. The things are property insured is called ………………………………………….of the insurance

Correct : A. Subject matter

32. The document which lays down the terms of the contract of the insurance is called ……………………………………..

Correct : A. Policy

33. The interest which insured has in the subject matter of the insurance is called …………………………………….

Correct : B. Insurance Interest

34. A contract of insurance is a …………………………………….agreement

Correct : A. contingent

35. LIC was formed in ………………………….

Correct : B. 1956

36. Risk is evaluated on the basis of …………………………………….. theory

Correct : C. Probability

37. Insurance is a written agreement between the insurer and the ………………………………

Correct : D. Insured

38. Insurable interest means ……………………………..interest

Correct : C. Monitoring

39. Which of the following insurance contract is not based on the principle of indemnity

Correct : C. Life insurance

40. Human life is the subject matter of a contract of_______________

Correct : A. Life insurance

41. Motor insurance provides insurance cover to _____________________

Correct : D. All of these

42. Expanded form of IRDA is_________________________

Correct : A. Insurance Regulatory Development Authority

43. IRDA is a ------------ member team

Correct : A. 10

44. The subject matter of insurance is ___________

Correct : A. Risk

45. Marine insurance may cover loss or damage to the ___________

Correct : D. All of these

46. _________ insurance is a not a contract of indemnity

Correct : D. Life

47. Risk is evaluated on the basis of ___________ theory

Correct : C. Probability

48. Insurance is a written agreement between the insured and the__________

Correct : D. Insured

49. Insurable interest means___________ interest

Correct : C. Monetary

50. Which of the following insurance contract is not based on the principle of indemnity

Correct : C. Life insurance

51. ________means closure or writing off the policy before its actual maturity

Correct : A. Fore closure

52. If the insured dies before the expiry of the term of the policy is known as________

Correct : C. Death claim

53. If more than one person claim the policy Money is called_______________________

Correct : B. Rival claim

54. A marine insurance is a contract of___________________

Correct : B. Indemnity

55. _________means as complete loss or destruction of the subject matter in the policy

Correct : B. Total loss

56. _________policy is issued to cover the risks involved when ship is anchored in the post

Correct : B. Port risk

57. ___________________policy is taken to cover different risks for a single shipment

Correct : C. Specific cover

58. FPR means_________________

Correct : A. First Premium Receipt

59. ___________ is a policy in which the limits of the risks are determined by the place of particular voyage

Correct : C. Voyage policy

60. Life insurance policies are issued for __________years duration

Correct : B. 5-10

61. A fire policy containing an average clause is___________________

Correct : B. Average policy

62. A policy causes loss on goods which are laying in different places

Correct : D. Floating

63. Property insurance may not include_______________

Correct : D. Sickness

64. _______is a contract against injury or death resulting from accident

Correct : C. Personal accident insurance

65. Motor vehicle insurance begin in ________________

Correct : A. UK

66. The person whose risk is insured is called ________________

Correct : D. Both A & B

67. In marine insurance insurable interest is enough at the time of_______________

Correct : C. Loss

68. ______ is an agreement whereby the insurer agreed to indemnity the insured against marine losses

Correct : C. Life Insurance

69. The term Assurance refers to______________

Correct : A. Life insurance business

70. Marine peril is also called as______________

Correct : C. Peril of the sea

71. Medical expense insurance is also known as__________________

Correct : C. Medi claim

72. The constitution of the IRDA consists of not more than ___________ members

Correct : B. 9

73. ____________ is also termed as group risk

Correct : A. Fundamental risk

74. Life insurance company was set up in______________

Correct : A. 1823

75. The principle of indemnity does not apply to

Correct : C. Both a & b

76. The normal period of a ____________ insurance contract is one year

Correct : C. Fire

77. Marine insurance protect against_______________

Correct : B. Marine perils

78. Motor vehicle act was established in______________

Correct : B. 1988

79. _________ enable to regroup the losses suffered by people consequent on burglary or hour breaking

Correct : A. Burglary insurance

80. The term________ is referred only life insurance business

Correct : C. Assurance

81. From the following which is a loss due to fire

Correct : C. Both a and b

82. In which year insurance began in India

Correct : B. 1818

83. An insurance policy will be only if ___________is paid

Correct : B. Premium

84. ___________ is the total premium that a policy holder pays

Correct : A. Gross premium

85. The time frame for which an insurance policy provides coverage is known as___________________

Correct : A. Policy term

86. Intimation of death is the information of death to the________________

Correct : B. Insurer

87. _________ is a form of health insurance against loss by a accidental bodily injury

Correct : D. Accident Insurance

88. Which is not a subject matter of marine insurance

Correct : D. Fire insurance

89. Form the following which is not a content of the letter of intimation

Correct : D. Date of birth

90. Life insurance policy are issued for_______ years of duration

Correct : B. 5-10

91. __________ is known as Rashtriya Krishi Bima Yojana

Correct : A. Crop Insurance

92. Risk insured against death is a contract of________

Correct : C. Assurance

93. ___________ policy issued on the basis of the number of persons assured

Correct : D. Multiple life

94. The danger of loss from the unforeseen circumstances in future refers to ___________

Correct : D. Risk

95. Policy holders are expected to pay premium on due dates a period of 15-30 days is allowed as grace to make payment of premium from the due date is

Correct : A. Day of grace

96. _______ is a theft committed by breaking out of the premises

Correct : A. Burglary

97. The central office of LIC of India is located at-----------.

Correct : A. Mumbai

98. From the following which is not an example of fundamental risk.

Correct : D. Burning of a house

99. ----------is based on the principle of co-operation

Correct : B. Insurance

100. Fire insurance contract is a contract of --------.

Correct : D. Indemnity