Basics Of Banking And Insurance Set 9

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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