McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 251. |
In Life Insurance, risk may be in the form of |
| A. | Standard |
| B. | Sub standard |
| C. | Delivered |
| D. | All of these |
| Answer» D. All of these | |
| 252. |
Marine insurance protects against |
| A. | Fire perils |
| B. | Marine perils |
| C. | both (a) & (b) |
| D. | None |
| Answer» B. Marine perils | |
| 253. |
In ________ the individual risk is offered by an insurer for acceptance or rejection by re-insurer |
| A. | Treaty reinsurance |
| B. | Facultative reinsurance |
| C. | Pool reinsurance |
| D. | None |
| Answer» B. Facultative reinsurance | |
| 254. |
Health insurance can be availed by people aged between ________ and ________ |
| A. | 10 and 100 |
| B. | 7 and 75 |
| C. | 5 and 75 |
| D. | 10 and 70 |
| Answer» C. 5 and 75 | |
| 255. |
A health insurance should be |
| A. | Affordable |
| B. | Continuous |
| C. | Universal |
| D. | All of those |
| Answer» D. All of those | |
| 256. |
Motor Vehicle Act was established in ________ |
| A. | 1888 |
| B. | 1988 |
| C. | 1998 |
| D. | 1978 |
| Answer» B. 1988 | |
| 257. |
________ enables to recoup the losses suffered by people consequent on burglary or hour breaking |
| A. | Burglary insurance |
| B. | Fire insurance |
| C. | both (a) and (b) |
| D. | None |
| Answer» A. Burglary insurance | |
| 258. |
________ is a document issued in advance of the policy |
| A. | Endorsements |
| B. | Cover note |
| C. | Certificate of deposit |
| D. | None |
| Answer» B. Cover note | |
| 259. |
Bombay Mutual Life Assurance Society came into existence in ________ |
| A. | 1987 |
| B. | 1971 |
| C. | 1871 |
| D. | 1878 |
| Answer» C. 1871 | |
| 260. |
The Life Insurance Corporation was formed with a capital contribution of ________ |
| A. | 10 Crores |
| B. | 6 Crores |
| C. | 5 Crores |
| D. | 7 Crores |
| Answer» C. 5 Crores | |
| 261. |
The term ________ is referred only Life Insurance business |
| A. | Warranties |
| B. | Utmost good faith |
| C. | Assurance |
| D. | None |
| Answer» C. Assurance | |
| 262. |
________ are the basis of the contract between the proposer and insurer. |
| A. | Assurance |
| B. | Warranties |
| C. | Insurance |
| D. | None |
| Answer» B. Warranties | |
| 263. |
________ plan also refers to an exclusive policy for exclusive people. |
| A. | Jeevan Aadhar |
| B. | Jeevan Shree |
| C. | Money Back Policy |
| D. | Jeevan Vishwas |
| Answer» B. Jeevan Shree | |
| 264. |
________ is a plan designed for businessmen and professionals as money is available periodically. |
| A. | Jeevan Surabhi |
| B. | Jeevan Saathi |
| C. | Jeevan Kishore |
| D. | Jeevan Sukanya |
| Answer» A. Jeevan Surabhi | |
| 265. |
From the following which is a character of Life Insurance Services |
| A. | Intangibility |
| B. | Heterogeneity |
| C. | Inseparability |
| D. | All of these |
| Answer» D. All of these | |
| 266. |
LIC Housing Finance Ltd. was incorporated on ________ |
| A. | 1984 |
| B. | 1989 |
| C. | 1969 |
| D. | 1993 |
| Answer» B. 1989 | |
| 267. |
From the following which is not an individual loan scheme of LIC Housing Finance |
| A. | Griha Prakash |
| B. | Griha Tara |
| C. | Griha Jyothi |
| D. | Griha Suraksha |
| Answer» D. Griha Suraksha | |
| 268. |
The Head Office of National Insurance Co. Ltd. is at________ |
| A. | Mumbai |
| B. | Chennai |
| C. | New Delhi |
| D. | Kolkatta |
| Answer» D. Kolkatta | |
| 269. |
The Head Office of Oriental Insurance Co. Ltd. is at ________ |
| A. | Chennai |
| B. | Mumbai |
| C. | New Delhi |
| D. | Kolkatta |
| Answer» C. New Delhi | |
| 270. |
Marine policy is also known as ________ |
| A. | Voyage policy |
| B. | Time policy |
| C. | Valued policy |
| D. | Sex policy |
| Answer» D. Sex policy | |
| 271. |
Re-insurance Treaties can be used for ________ re-insurance |
| A. | Hull |
| B. | Cargo |
| C. | Both (a) and (b) |
| D. | None |
| Answer» C. Both (a) and (b) | |
| 272. |
From the following which is a usual clause incorporated with Marine Policy? |
| A. | Assignment clause |
| B. | Touch and stay clause |
| C. | All risks clause |
| D. | All of these |
| Answer» D. All of these | |
| 273. |
From the following which is a loss due to fire? |
| A. | Loss of Assets |
| B. | Loss of profit |
| C. | Both (a) and (b) |
| D. | None |
| Answer» C. Both (a) and (b) | |
| 274. |
The corpus fund is created with contributions from the Central Government and State Government on ________ basis |
| A. | 60:40 |
| B. | 55:45 |
| C. | 50:50 |
| D. | 25:75 |
| Answer» C. 50:50 | |
| 275. |
An international code of ________ rules applied to Marine losses |
| A. | York Antwerp rule |
| B. | York Antiperil rule |
| C. | Both (a) and (b) |
| D. | None |
| Answer» A. York Antwerp rule | |
| 276. |
________ is sort of contract which is approved by Indian Contracts Act |
| A. | Insurance contract |
| B. | Indian Companies Act |
| C. | Reinsurance |
| D. | None |
| Answer» A. Insurance contract | |
| 277. |
New Delhi is the head office of |
| A. | United India Insurance Co. Ltd. |
| B. | Oriental Insurance Co. Ltd. |
| C. | National Insurance Co. Ltd. |
| D. | New India Assurance Co. Ltd. |
| Answer» B. Oriental Insurance Co. Ltd. | |
| 278. |
A Re-insurance of Re-insurance refers to |
| A. | Retention |
| B. | Retrocession |
| C. | Ceding insurer |
| D. | Line |
| Answer» B. Retrocession | |
| 279. |
In which year insurance began in India |
| A. | 1870 |
| B. | 1818 |
| C. | 1897 |
| D. | 1896 |
| Answer» B. 1818 | |
| 280. |
________ is a document in which contains the terms and conditions of the insurance contract is known as ________ |
| A. | Insurance premium |
| B. | Insurance policy |
| C. | Contribution |
| D. | None |
| Answer» B. Insurance policy | |
| 281. |
________ are extra benefits under the policy |
| A. | Riders |
| B. | Loans |
| C. | both (a) and (b) |
| D. | None |
| Answer» A. Riders | |
| 282. |
Submitting a policy back to the insurer before maturity is ________ |
| A. | Surrender |
| B. | Nomination |
| C. | Assignment |
| D. | Revival |
| Answer» A. Surrender | |
| 283. |
An insurance policy will be only if ________ is paid |
| A. | Policy |
| B. | Premium |
| C. | Document |
| D. | None |
| Answer» B. Premium | |
| 284. |
Insurable interest must be present in an ________ insurance contract at the time of contract and at the time of loss. |
| A. | Fire |
| B. | Marine |
| C. | Property |
| D. | Life |
| Answer» A. Fire | |
| 285. |
Which is the year of 'Great Fire of London'? |
| A. | 1969 |
| B. | 1666 |
| C. | 1967 |
| D. | 1566 |
| Answer» B. 1666 | |
| 286. |
The transit risk caused by fire is covered under ________ policy |
| A. | Excess policy |
| B. | Floating policy |
| C. | All risk policy |
| D. | transit policy |
| Answer» D. transit policy | |
| 287. |
________ is the total premium that a policy holder pays |
| A. | Gross premium |
| B. | Avg. premium |
| C. | Partial premium |
| D. | All of these |
| Answer» A. Gross premium | |
| 288. |
________ means a premium which remains unchanged through out the life of a policy. |
| A. | Avg. premium |
| B. | Gross premium |
| C. | Total premium |
| D. | Level premium |
| Answer» D. Level premium | |
| 289. |
________ is a formal statement or announcement |
| A. | Declaration |
| B. | Premium |
| C. | Cover note |
| D. | Certificate of insurance |
| Answer» A. Declaration | |
| 290. |
The time frame for which an insurance policy provides coverage is known as ________ |
| A. | Policy term |
| B. | Policy loan |
| C. | Policy mode |
| D. | None |
| Answer» A. Policy term | |
| 291. |
An exceptionally large risk is known as ________ |
| A. | Great risk |
| B. | Jumbo risk |
| C. | Giant risk |
| D. | None |
| Answer» B. Jumbo risk | |
| 292. |
A person who gains or benefits as per a contract is known as______ |
| A. | Beneficiary |
| B. | Annuitant |
| C. | Assurer |
| D. | None |
| Answer» A. Beneficiary | |
| 293. |
Intimation of Death is the information of death to the________ |
| A. | Beneficiary |
| B. | Insurer |
| C. | Both a and b |
| D. | None |
| Answer» B. Insurer | |
| 294. |
Gross premium means Net premium plus ________ |
| A. | Profit |
| B. | Loss |
| C. | Expense |
| D. | Expense loading |
| Answer» D. Expense loading | |
| 295. |
________ is a form of health insurance against loss by accidental bodily injury |
| A. | Property insurance |
| B. | Marine insurance |
| C. | Personal insurance |
| D. | Accident insurance |
| Answer» D. Accident insurance | |
| 296. |
________ Means restoring the victim of a loss by payment, repair or replacement. |
| A. | Premium |
| B. | Declaration |
| C. | Indemnity |
| D. | Assurance |
| Answer» C. Indemnity | |
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