Insurance Management Set 8
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This set of Insurance Management Multiple Choice Questions & Answers (MCQs) focuses on Insurance Management Set 8
Q1 | ________ is a package policy which provides protection against a number ofseparate points.
- Single peril policy
- Group peril policy
- Multiperil policy
- None
Q2 | ________ is the property saved from loss
- Profit
- Salvage
- Stand
- Jettison
Q3 | When a company reinsures its liability with another, then it ________ business
- Cession
- Cedes
- Ceding
- None
Q4 | The scope of protection provided under the contract of insurance is ______
- Condition
- Coverage
- Contribution
- None
Q5 | Medical expense insurance is also known as ________
- Personal insurance
- Liability insurance
- Medi claim
- Fidelity
Q6 | The risk of individuals and families are cored under ________
- Personal insurance
- Property insurance
- Liability insurance
- All
Q7 | The central office of LIC of India is located at ________
- Mumbai
- New Delhi
- Bangalore
- Chennai
Q8 | Under ________ insurance, loss of profit policy is called as consequentialloss policy
- Marine
- Property
- Fire
- Life
Q9 | From the following which is not an example of fundamental risk?
- War
- Unemployment
- Inflation
- Burning of a house
Q10 | ________ is also termed as group risk
- Fundamental risk
- Static risk
- Property risk
- Liability risk
Q11 | Final accounts of Life Insurance Companies include
- Revenue account
- Profit and loss account
- Receipt and payment account
- All of these
Q12 | From the following, which is a type of reserve in insurance business
- Unearned Premium Reserve
- Un-expired Risk Reserve
- Outstanding Claims Reserve
- All of these
Q13 | The current ratio measures the ________ position of an insurance policy
- Solvency
- Liquidity
- Profitability
- Activity
Q14 | ________ is also known as all risk policy
- Comprehensive policy
- Excess policy
- Floating policy
- Adjustable policy
Q15 | Health insurance can be availed by people aged between ______ and ______
- 10 and 100
- 7 and 75
- 5 and 75
- 10 and 70
Q16 | A health insurance should be
- Affordable
- Continuous
- Universal
- All of those
Q17 | ________ is a plan designed for businessmen and professionals as money isavailable periodically.
- Jeevan Surabhi
- Jeevan Saathi
- Jeevan Kishore
- Jeevan Sukanya
Q18 | From the following which is a character of Life Insurance Services
- Intangibility
- Heterogeneity
- Inseparability
- All of these
Q19 | LIC Housing Finance Ltd. was incorporated on ________
- 1984
- 1989
- 1969
- 1993
Q20 | An international code of ________ rules applied to Marine losses
- York Antwerp rule
- York Antiperil rule
- Both (a) and (b)
- None
Q21 | New Delhi is the head office of
- United India Insurance Co. Ltd.
- Oriental Insurance Co. Ltd.
- National Insurance Co. L
Q22 | ________ are extra benefits under the policy
- Riders
- Loans
- both (a) and (b)
- None
Q23 | An insurance policy will be only if ________ is paid
- Policy
- Premium
- Document
- None
Q24 | Insurable interest must be present in an ________ insurance contract atthe time of contract and at the time of loss.
- Fire
- Marine
- Property
- Life
Q25 | The transit risk caused by fire is covered under ________ policy
- Excess policy
- Floating policy
- All risk policy
- transit policy