Risk Management And Insurance Set 1

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

Bachelor of Commerce in Banking (B.Com Banking)

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This set of Risk Management and Insurance Multiple Choice Questions & Answers (MCQs) focuses on Risk Management And Insurance Set 1

Q1 | ….. is a condition in which there is a possibility of an adverse deviation from a desiredoutcome that is expected or hope for.
Q2 | Relative variation of actual loss from expected loss is called………
Q3 | Risk is measurable……..
Q4 | …………. Refers to a situation where outcome is not certain
Q5 | If any risk is concerned with financial loss, it is termed as………..
Q6 | ………… another name of fundamental risk
Q7 | Pure risk situation are those where there is a possibility of………….
Q8 | Speculative risk is a situation in which…………………… is possible
Q9 | Changes is technology is a example for …………
Q10 | In static risk.............
Q11 | Risk which can be measured using numerical scale are known as
Q12 | ………………is an example for personal risk
Q13 | Property damaged because of earthquake is…………risk
Q14 | Spreading of risk otherwise termed as……….
Q15 | Insurance is a risk management technique involving…
Q16 | An escape from disability or death in a plain crash by refusing to fly is called…
Q17 | ………… is the process of reducing frequencies and severely of losses.
Q18 | Willingness to retain whole or part of a given risk is called…………..
Q19 | Annual maintenance contract for computers is …………
Q20 | Which of the following is a method of risk identification.
Q21 | Risk evaluation breaks down into two parts. They are:
Q22 | …………….. is planned retention by which the part or full of the exposure arising a riskfactor is retained by the firm
Q23 | IRDA Act passed in the year…………..
Q24 | A policy for protecting a group of employees in a firm is called………..
Q25 | Committee constituted to reform insurance sector constituted in the 1993 was headed by
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