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This set of Basics of Banking and Insurance Multiple Choice Questions & Answers (MCQs) focuses on Basics Of Banking And Insurance Set 9
Q1 | Committee of Reforms in Insurance sectors during 1993 headed by...........
- rn malhotra
- s narasimham
- manmohansingh
- p chidambaram
Q2 | The danger of loss from the unforeseen circumstances in future refers to
- risk
- perils
- hazard
- damage
Q3 | The principle of ‘prevention is better than cure’ refers to
- avoiding of risk
- reduction of risk
- transferring risk
- shifting of risk
Q4 | When the subject is partially lost by a peril insured against, it is called..........
- general average loss
- constructive total loss
- actual total loss
- particular average loss
Q5 | Cargo ship caught by fire is an example of
- general average loss
- constructive total loss
- actual total loss
- particular average loss
Q6 | Under fire insurance, loss of profit policy is also called
- average policy
- consequential loss policy
- specific policy
- adjustable policy
Q7 | Rashtriya Krishi Yojana of crop insurance scheme introduced in India in the year
- 1999
- 1888
- 1988
- 1977
Q8 | Motor vehicle insurance is compulsory under Motor Vehicle Act, which was enacted in...
- 1988
- 1998
- 1939
- 1978
Q9 | Motor vehicle Insurance had its beginning in
- uk
- usa
- india
- canada
Q10 | Organisation structure of LIC is
- two tier
- three tier
- four tier
- five tier
Q11 | IRDA shall consist of note more than...........
- 10 members
- 7 members
- 9 members
- 8 members
Q12 | “Uberrimae Fidei” means
- indemnity
- insurable interest
- good faith
- mitigation of loss
Q13 | ........... is the oldest insurance
- fire insurance
- life insurance
- marine insurance
- social insurance
Q14 | Boiler insurance policy coming under
- fire insurance
- life insurance
- engineering insurance
- marine insurance
Q15 | In life insurance, instalment policy is also known as
- annuity policy
- endowment policy
- whole life policy
- lump sum policy
Q16 | In insurance, “Causa Proxima” means
- utmost good faith
- contribution
- prevent the causes of loss
- closely connected perils
Q17 | Which of the following is not a life insurance policy of LIC
- bima nivesh
- jeevan aadhar
- komal jeevan
- sun life
Q18 | In India Insurance business are regulated by
- irbi
- rbi
- irda
- irdp
Q19 | In insurance, NAIS stands for
- national association of insurance service
- non assured individual section
- national agricultural insurance scheme
- new agricultural insurance scheme
Q20 | NAIS launched in 1999 is being implemented through
- gic
- lic
- rrb
- nabard
Q21 | There are........ associated companies of GIC
- 3
- 2
- 6
- 4
Q22 | Crop insurance Scheme was introduced by Government of India in the tear
- 1970
- 1972
- 1975
- 1985
Q23 | ........... is document issued to the insured in advance of the policy
- premium receipt
- cover note
- certificate of insurance
- all of these
Q24 | ............... is the amount which the insurer is prepared to pay before the date ofmaturity of policy.
- paid up value
- surrender value
- both a & b
- none of the above
Q25 | Risks are not suited to treatment by insurance refers to
- static risk
- property risk
- dynamic risk
- liability risk