1. ………….are the middlemen in the healthcare delivery chain in insurance
sector.
Correct : D. TPAs
2. ……………is insurance companies tying up with banks to sell insurance
products.
Correct : C. bancassurance
3. …………..company sent 50,000 direct mailers to office –goers in Mumbai
through their lunch boxes.
Correct : C. Icici insurance
4. ICICI prudential Life insurance company sent 50,000 direct mailers to
office –goers in Mumbai through their lunch boxes.It is a
Correct : B. Direct marketing
5. ________ is a social device for eliminating or reducing the
loss of society from certain risk.
Correct : C. Insurance
6. Insurance provides security against ________
Correct : C. Both (a) & (b)
7. The ________ is the party who agrees to compensate the other
person against possible losses.
Correct : B. Insurer
8. The ________ is the party who gets his life or property
insured against risks.
Correct : A. Insured
9. The insurer agrees to compensate the insured in consideration
of a sum of money is called
Correct : A. Premium
10. The things or property insured is called ________ of the
insurance
Correct : A. Subject matter
11. A contract of insurance is a ________ agreement.
Correct : A. Contingent
12. The Bombay Mutual Assurance Society Ltd. formed in ________
Correct : A. 1870
13. ________ was the first Indian Insurance Company
Correct : A. Bombay Mutual Assurance Society Ltd.
14. Risk is evaluated on the basis of ________ theory
Correct : C. Probability
15. From the following, which is not a type of risk?
Correct : D. Quantitative
16. Insurable interest means ________ interest
Correct : C. Monetary
17. Which of the following insurance contract is not based on the
principle of indemnity.
Correct : C. Life insurance
18. Human life is the subject matter of a contract of ________
Correct : A. Life assurance
19. Motor insurance provides insurance cover to ________
Correct : D. All of these
20. Employee's State Insurance Corporation was established in ________
Correct : C. 1948
21. In insurance the risk is ________
Correct : B. Uncertain
22. Marine insurance may cover loss or damage to the ________
Correct : D. All of these
23. From the following which is not a miscellaneous insurance?
Correct : C. Social insurance
24. Marine insurance is for one year or for a specified ________
Correct : A. Voyage
25. From the following which is the dilly or powers of IRDA.
Correct : D. All of these
26. __________ provides risks coverage to the life of person
Correct : A. ( Life Insurance
27. From the following which is the importance of life Insurance?
Correct : D. All of these
28. __________ refers to the right of an insurer to refuse
admittance of the claim by the insured.
Correct : B. Repudiation
29. FPR Means ________
Correct : A. First Premium Receipt
30. __________ is a voluntary termination of the contract by thepolicy holders.
Correct : B. Surrender
31. ________ means closure or writing off the policy before its
actual maturity
Correct : A. Fore closure
32. If the insured dies before the expiry of the term of the policy,
is known as ________
Correct : C. Death claim
33. ________ is concerned with overseas trade
Correct : C. Marine insurance
34. A marine insurance is a contract of _________
Correct : B. Indemnity
35. Which is not a subject matter of marine insurance
Correct : D. Fire insurance
36. __________ means the body or frame of the ship or vessel and its machinery.
Correct : C. Hull
37. ________ means goods or commodities carried in a ship
Correct : B. Cargo
38. ________ is the charge to be paid to the transportation of the goods.
Correct : C. Fright
39. The first requirement of the corporation in the cases of death claim is _____
Correct : B. Intimation of death
40. From the following which is not a content of the letter of intimation
Correct : D. Date of birth
41. Expanded form of PPL policy is ___________
Correct : C. Policy proof of interest
42. ___________ Policy is issued to cover the risks involved when the ship is
anchored in the post.
Correct : B. Port risk
43. ________ policy is taken to cover different risks for a single shipment.
Correct : C. Specific cover
44. General Insurance policies are issued for a period of
Correct : A. 1 year
45. _______ means the act of throwing a part of the cargo over board lighten
the ship in emergencies
Correct : B. Jettison
46. Fire insurance came into existence after the Great Fire of the London in _____
Correct : A. 1666
47. A valuable policy is just opposite to the ________
Correct : B. Valued policy
48. ________ Policy covers both fixed and current assets of insured manufactures.
Correct : B. Blanket
49. _________ is a contract between two insures i.e. original insurer and
another insurer.
Correct : B. Reinsurance
50. Reinsurance can be called as ________
Correct : A. Insurance of Insurance
51. __________ means insuring a risk with two or more insurers and the total
sum insured also exceeds the actual value of the subject matter.
Correct : D. Double insurance
52. _______ involves proportionate sharing of the insurance among more than
one insurer.
Correct : C. Co-insurance
53. ________ means insuring again.
Correct : B. Reinsurance
54. The proportion of the risk which the direct insurer holds on his own
account is called _________
Correct : B. Retention
55. Re-insurer is the insurer who grants a guarantee from the _______
Correct : B. Direct insurer
56. From the following which is not a non-proportional form of reinsurance?
Correct : D. Quata Method of reinsurance
57. When the amount for which a subject matter is insured is more than its
actual value, it is called _________
Correct : C. Over insurance
58. ________ insurance means an alternative to purchasing insurance in a
commercial market.
Correct : B. Internal
59. __________ Insurance is a contract to provide a measure of financial
support to farmers in the event of a crop failure due to drought or flood.
Correct : B. Crop
60. ________ means the transfer of all the rights and remedies available to the
insured in respect of the subject matter to the insurer after indemnity has been effected.
Correct : A. Subrogation
61. An unlooked mishap or an untoward event which is not expected or
designed
Correct : B. Accident
62. Property Insurance may not include ___________
Correct : D. Sickness
63. _________ is known as Rashtriya Krishi Bima Yojana
Correct : A. Crop insurance
64. Crop insurance scheme came into existence in India in ________
Correct : B. 1999
65. Crop insurance covers the risks of __________
Correct : D. Allof these
66. Public liability Insurance act established in _______
Correct : B. 1991
67. From the following which is not a type of Public Liability Risk Insurance
Correct : D. Business premises Insurance
68. _____________ Policy issued on the basis of the number of persons assured.
Correct : D. Multiple life
69. The danger of loss from the unforeseen circumstances in future refers to
_________
Correct : D. Risk
70. _____________ Policy is granted only in respect of stocks of inventories of
the insured under fire insurance business.
Correct : A. Declaration
71. The term 'Assurance' refers to ___________
Correct : A. Life Insurance business
72. __________ provides evidence of insurance to the police and Registration
Authorities under Motor Vehicle Act.
Correct : C. Certificate of insurance
73. 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. Days of grace
74. The main cause of loss or damage is _____________
Correct : A. Proximate cause
75. The cause of a possible loss, such as fire windstorm theft etc. is known as _____
Correct : A. Peril
76. ________ is a package policy which provides protection against a number of
separate points.
Correct : C. Multiperil policy
77. ________ is the property saved from loss
Correct : B. Salvage
78. When a company reinsures its liability with another, then it ________ business
Correct : B. Cedes
79. The scope of protection provided under the contract of insurance is ______
Correct : B. Coverage
80. Medical expense insurance is also known as ________
Correct : C. Medi claim
81. The risk of individuals and families are cored under ________
Correct : A. Personal insurance
82. The central office of LIC of India is located at ________
Correct : A. Mumbai
83. Under ________ insurance, loss of profit policy is called as consequential
loss policy
Correct : C. Fire
84. From the following which is not an example of fundamental risk?
Correct : D. Burning of a house
85. ________ is also termed as group risk
Correct : A. Fundamental risk
86. Final accounts of Life Insurance Companies include
Correct : D. All of these
87. From the following, which is a type of reserve in insurance business
Correct : D. All of these
88. The current ratio measures the ________ position of an insurance policy
Correct : B. Liquidity
89. ________ is also known as all risk policy
Correct : A. Comprehensive policy
90. Health insurance can be availed by people aged between ______ and ______
Correct : C. 5 and 75
91. A health insurance should be
Correct : D. All of those
92. ________ is a plan designed for businessmen and professionals as money is
available periodically.
Correct : A. Jeevan Surabhi
93. From the following which is a character of Life Insurance Services
Correct : D. All of these
94. LIC Housing Finance Ltd. was incorporated on ________
Correct : B. 1989
95. An international code of ________ rules applied to Marine losses
Correct : A. York Antwerp rule
96. New Delhi is the head office of
Correct : B. Oriental Insurance Co. Ltd.
97. ________ are extra benefits under the policy
Correct : A. Riders
98. An insurance policy will be only if ________ is paid
Correct : B. Premium
99. Insurable interest must be present in an ________ insurance contract at
the time of contract and at the time of loss.
Correct : A. Fire
100. The transit risk caused by fire is covered under ________ policy