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This set of Insurance Management Multiple Choice Questions & Answers (MCQs) focuses on Insurance Management Set 6

Q1 | __________ provides risks coverage to the life of person
  • ( Life Insurance
  • Health Insurance
  • Death Insurance
  • All of these
Q2 | From the following which is the importance of life Insurance?
  • Encourage investments
  • Credit work ness
  • Tax benefit
  • All of these
Q3 | __________ refers to the right of an insurer to refuseadmittance of the claim by the insured.
  • Replication
  • Repudiation
  • Dufalication
  • None
Q4 | FPR Means ________
  • First Premium Receipt
  • Fourth Premium Receipt
  • First Policy Receipt
  • First Police Record
Q5 | __________ is a voluntary termination of the contract by thepolicy holders.
  • Report
  • Surrender
  • Prospectus
  • Cover note
Q6 | ________ means closure or writing off the policy before itsactual maturity
  • Fore closure
  • Surrender
  • Endorsement
  • Cover note
Q7 | If the insured dies before the expiry of the term of the policy,is known as ________
  • surrender
  • fore closure
  • Death claim
  • Death Policy
Q8 | ________ is concerned with overseas trade
  • Life Insurance
  • Non-life insurance
  • Marine insurance
  • Fire insurance
Q9 | A marine insurance is a contract of _________
  • Increment
  • Indemnity
  • Maturity
  • None
Q10 | Which is not a subject matter of marine insurance
  • Hull insurance
  • Cargo insurance
  • Fright Insurance
  • Fire insurance
Q11 | __________ means the body or frame of the ship or vessel and its machinery.
  • Cargo
  • Fright
  • Hull
  • Voyage
Q12 | ________ means goods or commodities carried in a ship
  • Hull
  • Cargo
  • Fright
  • Wares
Q13 | ________ is the charge to be paid to the transportation of the goods.
  • Hull
  • Cargo
  • Fright
  • Premium
Q14 | The first requirement of the corporation in the cases of death claim is _____
  • Imitation of death
  • Intimation of death
  • Certificate of death
  • None of these
Q15 | From the following which is not a content of the letter of intimation
  • Name of the life assured
  • Date of Death
  • Cause of death
  • Date of birth
Q16 | Expanded form of PPL policy is ___________
  • Policy Procedure of Interest
  • Policy Port of Interest
  • Policy proof of interest
  • Port proof of interest
Q17 | ___________ Policy is issued to cover the risks involved when the ship isanchored in the post.
  • Cargo
  • Port risk
  • Currency
  • Fleet
Q18 | ________ policy is taken to cover different risks for a single shipment.
  • Blanket
  • Named
  • Specific cover
  • Block
Q19 | General Insurance policies are issued for a period of
  • 1 year
  • 2 year
  • 10 year
  • 4 year
Q20 | _______ means the act of throwing a part of the cargo over board lightenthe ship in emergencies
  • Barratry
  • Jettison
  • Waiver
  • Premium
Q21 | Fire insurance came into existence after the Great Fire of the London in _____
  • 1666
  • 1866
  • 1686
  • 1687
Q22 | A valuable policy is just opposite to the ________
  • Value policy
  • Valued policy
  • Both
  • None
Q23 | ________ Policy covers both fixed and current assets of insured manufactures.
  • Block
  • Blanket
  • Transit
  • Excess
Q24 | _________ is a contract between two insures i.e. original insurer andanother insurer.
  • Insurance
  • Reinsurance
  • Policy
  • Premium
Q25 | Reinsurance can be called as ________
  • Insurance of Insurance
  • Insurance of insures
  • Insurance of insurance policy
  • None