McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 301. |
The person who seeks protection against a risk and to whom the insurance policy is issued is known as …………. |
| A. | Insurer |
| B. | customer |
| C. | insured |
| D. | creditor |
| Answer» C. insured | |
| 302. |
IRDA stands for …….. |
| A. | Insurance Regulatory and Development Authority |
| B. | Industrial Development and development Authority |
| C. | Insurance Restructuring and Development Authority |
| D. | Insurance Refinancing and Development Authority |
| Answer» A. Insurance Regulatory and Development Authority | |
| 303. |
IRDA Act was passed in the year |
| A. | 1948 |
| B. | 2000 |
| C. | 1999 |
| D. | 1956 |
| Answer» C. 1999 | |
| 304. |
Hull insurance related in the case of ………. |
| A. | building |
| B. | life |
| C. | machine |
| D. | ship |
| Answer» D. ship | |
| 305. |
In the case of life insurance HLV refers to…………. |
| A. | Home Legal Value |
| B. | Human Life Value |
| C. | Human Legal Value |
| D. | House Length Value |
| Answer» C. Human Legal Value | |
| 306. |
………. of a life policy means transferring the rights of the insured in respect of the policy to another one |
| A. | Nomination |
| B. | Consideration |
| C. | Assignment |
| D. | Agreement |
| Answer» A. Nomination | |
| 307. |
Both assignment and nomination are possible in the case of ………… insurance policies |
| A. | life |
| B. | fire |
| C. | marine |
| D. | vehicle |
| Answer» B. fire | |
| 308. |
…………….. is the price paid by the insured for the risk undertaken by the insurer |
| A. | Wages |
| B. | premium |
| C. | salary |
| D. | compensation |
| Answer» B. premium | |
| 309. |
……………….. schemes are intended to insure a group of individual together |
| A. | Insurance |
| B. | wages |
| C. | salary |
| D. | group insurance |
| Answer» D. group insurance | |
| 310. |
Insurance Act was comes into existence on ……. |
| A. | 1956 |
| B. | 1948 |
| C. | 1938 |
| D. | 1988 |
| Answer» C. 1938 | |
| 311. |
Reinstatement policy is related in the case of which policy |
| A. | A Life insurance policy |
| B. | Marine insurance policy |
| C. | Fire insurance policy |
| D. | Group insurance policy |
| Answer» C. Fire insurance policy | |
| 312. |
…………. means selling of insurance policies and products through banking firms |
| A. | Assurance |
| B. | bancassurance |
| C. | insurance |
| D. | policy |
| Answer» B. bancassurance | |
| 313. |
Life Insurance Corporation of India was formed in the year ……. |
| A. | 1948 |
| B. | 1964 |
| C. | 1956 |
| D. | 1988 |
| Answer» C. 1956 | |
| 314. |
The General Insurance Corporation of India was formed in the year ……. |
| A. | 1973 |
| B. | 1948 |
| C. | 1956 |
| D. | 1984 |
| Answer» A. 1973 | |
| 315. |
General Insurance Corporation of India Act was formed in ---- |
| A. | 1973 |
| B. | 1963 |
| C. | 1972 |
| D. | 1962 |
| Answer» C. 1972 | |
| 316. |
Which risk may result in loss or gain ? |
| A. | particular risk |
| B. | pure risk |
| C. | speculative risk |
| D. | fundamental risk |
| Answer» C. speculative risk | |
| 317. |
………. Risk are arises due to changes in the economic policies of the government. |
| A. | speculative risk |
| B. | particular risk |
| C. | dynamic risk |
| D. | financial risk |
| Answer» C. dynamic risk | |
| 318. |
Risk which arises if there is no change in the economic policies of the government is |
| A. | dynamic risk |
| B. | static risk |
| C. | particular risk |
| D. | financial risk |
| Answer» B. static risk | |
| 319. |
Writing off the policy before its actual maturity is known as ---- |
| A. | Nomination |
| B. | Foreclosure |
| C. | Surrender |
| D. | None of these |
| Answer» B. Foreclosure | |
| 320. |
-------Insurance covers many persons under one contract |
| A. | Public insurance |
| B. | Group insurance |
| C. | Personal accident insurance |
| D. | None of these |
| Answer» B. Group insurance | |
| 321. |
------ is the rate at which the central bank rediscounts the bills of commercial banks |
| A. | Bank Rate Policy |
| B. | Central bank rate |
| C. | Credit rate |
| D. | None of these |
| Answer» A. Bank Rate Policy | |
| 322. |
------- is the deliberate attempt by the central bank to influence the volume of credit available in the country. |
| A. | OMO |
| B. | SLR |
| C. | BRP |
| D. | None of these |
| Answer» A. OMO | |
| 323. |
----- is the deliberate attempt by the RBI to influence the volume of available in the country. |
| A. | Bank Rate Policy. |
| B. | Open Market Operations |
| C. | Qualitative credit control. |
| D. | All |
| Answer» B. Open Market Operations | |
| 324. |
-----------------------insurance is a cash value policy that provides life time protection by paying a lump sum death benefits. |
| A. | Endowment insurance |
| B. | Term insurance |
| C. | Whole life insurance |
| D. | Life insurance |
| Answer» D. Life insurance | |
| 325. |
----------------- insurance policy pay the assured sum on maturity of the policy or on the death of the insured whichever is ealier |
| A. | Endowment insurance |
| B. | Term insurance |
| C. | Whole life insurance |
| D. | Life insurance |
| Answer» D. Life insurance | |
| 326. |
When the life insurance corporation of India was formed? |
| A. | August 1 1956 |
| B. | November 1 1956 |
| C. | September 1 1956 |
| D. | January 1 1956 |
| Answer» C. September 1 1956 | |
| 327. |
In Insurance the consideration is known as |
| A. | Money |
| B. | Fund |
| C. | Return |
| D. | Premium |
| Answer» D. Premium | |
| 328. |
IRDA based in |
| A. | Hyderabad |
| B. | Kolkkatta |
| C. | Mumbai |
| D. | Chennai |
| Answer» A. Hyderabad | |
| 329. |
Insurance is defined as a |
| A. | Contract |
| B. | Social device |
| C. | Co-operative device |
| D. | All |
| Answer» D. All | |
| 330. |
which of the following is called bankers cheque ? |
| A. | demand draft |
| B. | debit card |
| C. | pay order |
| D. | fixed deposit |
| Answer» A. demand draft | |
| 331. |
RBI was nationalized in the year_______ |
| A. | 1949 |
| B. | 1935 |
| C. | 1934 |
| D. | none |
| Answer» A. 1949 | |
| 332. |
The RBI is establish in the year _____ |
| A. | 1934 |
| B. | 1935 |
| C. | 1949 |
| D. | none |
| Answer» A. 1934 | |
| 333. |
Growth with ______is one of the important objectives of monetary policy of the RBI. |
| A. | Price feasibility |
| B. | Price Stability |
| C. | Price liability |
| D. | none |
| Answer» B. Price Stability | |
| 334. |
Forecasting or fixing rate of inflation is called______ |
| A. | deflation targeting |
| B. | Inflation targeting |
| C. | both |
| D. | none |
| Answer» B. Inflation targeting | |
| 335. |
_____is considered as an alternative to CB |
| A. | currency Board, |
| B. | National Board |
| C. | Both |
| D. | none |
| Answer» A. currency Board, | |
| 336. |
Central bank is that bank which controls ______ |
| A. | credit |
| B. | assets |
| C. | gold |
| D. | none |
| Answer» A. credit | |
| 337. |
The inflation target at present for India is_____ |
| A. | 5% |
| B. | 3% |
| C. | 4% |
| D. | none |
| Answer» C. 4% | |
| 338. |
Monetary policy in India is formulated by ______ |
| A. | fiscal policy committee |
| B. | fiscal policy committee. |
| C. | general committee |
| D. | none |
| Answer» B. fiscal policy committee. | |
| 339. |
RBI’s monetary policy has to sub serve the ____, economic & social objectives |
| A. | national, |
| B. | local, |
| C. | state |
| D. | none |
| Answer» A. national, | |
| 340. |
Transparency improves _________ of CB |
| A. | accountability |
| B. | credibility |
| C. | both |
| D. | none |
| Answer» B. credibility | |
| 341. |
_____is the apex bank of the banking sector of an economy. |
| A. | BOI |
| B. | SBI |
| C. | RBI |
| D. | none |
| Answer» C. RBI | |
| 342. |
Transparency improves accountability of CB. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» B. False | |
| 343. |
Globalization has increased the role of central bank. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» A. True | |
| 344. |
The RBI was established as a private shareholders bank |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» A. True | |
| 345. |
RBI’s monetary policy has to sub serve the national, economic & social objectives |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» A. True | |
| 346. |
The RBI is totally autonomous and independent of the government. |
| A. | True |
| B. | False |
| C. | all |
| D. | none |
| Answer» B. False | |
| 347. |
EFT stands for…….. |
| A. | Electronic Fund Transmission |
| B. | Electronic Fund Transfer |
| C. | Electronic Feature Transfer |
| D. | None of these |
| Answer» B. Electronic Fund Transfer | |
| 348. |
Which bank was introduced first ATM machine in India? |
| A. | RBI |
| B. | HSBC |
| C. | PNB |
| D. | ICICI bank |
| Answer» B. HSBC | |
| 349. |
CDM refers to …………. |
| A. | Cash Deposit Machine |
| B. | Credit Development Method |
| C. | Cash Development Method |
| D. | Cash Development Machine |
| Answer» A. Cash Deposit Machine | |
| 350. |
ECS refers to …………… |
| A. | Easy Cash Service |
| B. | Electronic Clearing Service |
| C. | Electronic cash service |
| D. | Easy Clearing Service |
| Answer» B. Electronic Clearing Service | |
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