Insurance Management Set 9

Bachelor of Commerce in Banking and Insurance (B.Com Banking and Insurance)

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This set of Insurance Management Multiple Choice Questions & Answers (MCQs) focuses on Insurance Management Set 9

Q1 | ________ is the total premium that a policy holder pays
Q2 | ________ means a premium which remains unchanged through out the lifeof a policy.
Q3 | The time frame for which an insurance policy provides coverage is knownas ________
Q4 | An exceptionally large risk is known as ________
Q5 | A person who gains or benefits as per a contract is known as ______
Q6 | Intimation of Death is the information of death to the ________
Q7 | Gross premium means Net premium plus ________
Q8 | ________ is a form of health insurance against loss by accidental bodilyinjury
Q9 | Taylor Tobacco Company is concerned that the company may be heldliable in a court of law and forced to pay a large damage award. The characteristics of the judicial system that increase the frequency and severity of losses is known as
Q10 | All of the following are social costs associated with insurance EXCEPT
Q11 | Bronson Company manufactures tools that it sells to wholesalers. Bronsonis concerned that it may be unable to collect money the company is owed by the wholesalers. To address this risk, Bronson Company could purchase
Q12 | All of the following are financial risks which may be faced by businessorganizations EXCEPT
Q13 | ………….of India offers a range of credit risk insurance covers to exportersagainst loss in export of goods and services.
Q14 | NAIS stands for
Q15 | In India ……….controls and regulate the rates, advantages , terms andconditions that may be offered by insures in respect of general insurance business relating to marine (hull) ,motor ,engineering and workmen compensation.
Q16 | TAC stands for
Q17 | ……..is pricing of insurance products driven by market forces
Q18 | ………….is an amount in excess of the value of insurers assets over theamount of liabilities.This amount is prescribed by IRDA.
Q19 | …………are those where a part of the premium is charged for the risk coverand the rest is invested in selected mutual funds as per the choice of the investor.
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