McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Bachelor of Commerce (B Com) .
| 151. |
________means closure or writing off the policy before its actual maturity |
| A. | Fore closure |
| B. | Surrender |
| C. | Endorsement |
| D. | Cover not |
| Answer» A. Fore closure | |
| 152. |
If the insured dies before the expiry of the term of the policy is known as________ |
| A. | Policy |
| B. | Premium |
| C. | Death claim |
| D. | Death policy |
| Answer» C. Death claim | |
| 153. |
If more than one person claim the policy Money is called_______________________ |
| A. | Death claim |
| B. | Rival claim |
| C. | Both |
| D. | None |
| Answer» B. Rival claim | |
| 154. |
A marine insurance is a contract of___________________ |
| A. | Increment |
| B. | Indemnity |
| C. | Maturity |
| D. | None |
| Answer» B. Indemnity | |
| 155. |
_________means as complete loss or destruction of the subject matter in the policy |
| A. | Partial loss |
| B. | Total loss |
| C. | Actual loss |
| D. | None |
| Answer» B. Total loss | |
| 156. |
_________policy is issued to cover the risks involved when ship is anchored in the post |
| A. | Cargo |
| B. | Port risk |
| C. | Currency |
| D. | Fleet |
| Answer» B. Port risk | |
| 157. |
___________________policy is taken to cover different risks for a single shipment |
| A. | Blanket |
| B. | Named |
| C. | Specific cover |
| D. | Block |
| Answer» C. Specific cover | |
| 158. |
FPR means_________________ |
| A. | First Premium Receipt |
| B. | Fourth premium receipt |
| C. | First policy receipt |
| D. | First policy record |
| Answer» A. First Premium Receipt | |
| 159. |
___________ is a policy in which the limits of the risks are determined by the place of particular voyage |
| A. | Time policy |
| B. | Valued policy |
| C. | Voyage policy |
| D. | Floating policy |
| Answer» C. Voyage policy | |
| 160. |
Life insurance policies are issued for __________years duration |
| A. | 15-20 |
| B. | 5-10 |
| C. | 10-15 |
| D. | 10-20 |
| Answer» B. 5-10 | |
| 161. |
A fire policy containing an average clause is___________________ |
| A. | Valued policy |
| B. | Average policy |
| C. | Specific policy |
| D. | Floating policy |
| Answer» B. Average policy | |
| 162. |
A policy causes loss on goods which are laying in different places |
| A. | Specific |
| B. | Declaration |
| C. | Replacement |
| D. | Floating |
| Answer» D. Floating | |
| 163. |
Property insurance may not include_______________ |
| A. | Burglary |
| B. | Fidelity |
| C. | Insolvency |
| D. | Sickness |
| Answer» D. Sickness | |
| 164. |
_______is a contract against injury or death resulting from accident |
| A. | Property insurance |
| B. | Liability Insurance |
| C. | Personal accident insurance |
| D. | None of these |
| Answer» C. Personal accident insurance | |
| 165. |
Motor vehicle insurance begin in ________________ |
| A. | UK |
| B. | USA |
| C. | India |
| D. | Japan |
| Answer» A. UK | |
| 166. |
The person whose risk is insured is called ________________ |
| A. | Assured |
| B. | Insured |
| C. | Under writer |
| D. | Both A & B |
| Answer» D. Both A & B | |
| 167. |
In marine insurance insurable interest is enough at the time of_______________ |
| A. | Maturity |
| B. | Insurance |
| C. | Loss |
| D. | Claim |
| Answer» C. Loss | |
| 168. |
______ is an agreement whereby the insurer agreed to indemnity the insured against marine losses |
| A. | Fire insurance |
| B. | Marine Insurance |
| C. | Life Insurance |
| D. | Property Insurance |
| Answer» C. Life Insurance | |
| 169. |
The term Assurance refers to______________ |
| A. | Life insurance business |
| B. | Fire insurance business |
| C. | Motor vehicle Insurance |
| D. | Marine Insurance |
| Answer» A. Life insurance business | |
| 170. |
Marine peril is also called as______________ |
| A. | Morale hazards |
| B. | Moral hazards |
| C. | Peril of the sea |
| D. | None |
| Answer» C. Peril of the sea | |
| 171. |
Medical expense insurance is also known as__________________ |
| A. | Personal insurance |
| B. | Liability insurance |
| C. | Medi claim |
| D. | Fidelity |
| Answer» C. Medi claim | |
| 172. |
The constitution of the IRDA consists of not more than ___________ members |
| A. | 8 |
| B. | 9 |
| C. | 10 |
| D. | 11 |
| Answer» B. 9 | |
| 173. |
____________ is also termed as group risk |
| A. | Fundamental risk |
| B. | Static risk |
| C. | Property risk |
| D. | Liability risk |
| Answer» A. Fundamental risk | |
| 174. |
Life insurance company was set up in______________ |
| A. | 1823 |
| B. | 1832 |
| C. | 1822 |
| D. | 1821 |
| Answer» A. 1823 | |
| 175. |
The principle of indemnity does not apply to |
| A. | Life insurance |
| B. | Personal accident insurance |
| C. | Both a & b |
| D. | None |
| Answer» C. Both a & b | |
| 176. |
The normal period of a ____________ insurance contract is one year |
| A. | Life |
| B. | Marine |
| C. | Fire |
| D. | Property |
| Answer» C. Fire | |
| 177. |
Marine insurance protect against_______________ |
| A. | Fire perils |
| B. | Marine perils |
| C. | Both a and B |
| D. | None |
| Answer» B. Marine perils | |
| 178. |
Motor vehicle act was established in______________ |
| A. | 1888 |
| B. | 1988 |
| C. | 1998 |
| D. | 1978 |
| Answer» B. 1988 | |
| 179. |
_________ enable to regroup 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 | |
| 180. |
The term________ is referred only life insurance business |
| A. | Warranties |
| B. | Almost good faith |
| C. | Assurance |
| D. | None |
| Answer» C. Assurance | |
| 181. |
From the following which is a loss due to fire |
| A. | Loss of asset |
| B. | Loss of profit |
| C. | Both a and b |
| D. | None |
| Answer» C. Both a and b | |
| 182. |
In which year insurance began in India |
| A. | 1870 |
| B. | 1818 |
| C. | 1897 |
| D. | 1896 |
| Answer» B. 1818 | |
| 183. |
An insurance policy will be only if ___________is paid |
| A. | Policy |
| B. | Premium |
| C. | Document |
| D. | None |
| Answer» B. Premium | |
| 184. |
___________ is the total premium that a policy holder pays |
| A. | Gross premium |
| B. | Average premium |
| C. | Total premium |
| D. | Level premium |
| Answer» A. Gross premium | |
| 185. |
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 | |
| 186. |
Intimation of death is the information of death to the________________ |
| A. | Beneficiary |
| B. | Insurer |
| C. | Both A&B |
| D. | None |
| Answer» B. Insurer | |
| 187. |
_________ is a form of health insurance against loss by a accidental bodily injury |
| A. | Property insurance |
| B. | Marine insurance |
| C. | Personal insurance |
| D. | Accident Insurance |
| Answer» D. Accident Insurance | |
| 188. |
Which is not a subject matter of marine insurance |
| A. | Hull insurance |
| B. | Cargo Insurance |
| C. | Fright Insurance |
| D. | Fire insurance |
| Answer» D. Fire insurance | |
| 189. |
Form the following which is not a content of the letter of intimation |
| A. | Name of the life assured |
| B. | Date of death |
| C. | Cause of death |
| D. | Date of birth |
| Answer» D. Date of birth | |
| 190. |
Life insurance policy are issued for_______ years of duration |
| A. | 15-20 |
| B. | 5-10 |
| C. | 10-15 |
| D. | 10-20 |
| Answer» B. 5-10 | |
| 191. |
__________ is known as Rashtriya Krishi Bima Yojana |
| A. | Crop Insurance |
| B. | Hut Insurance |
| C. | Property Insurance |
| D. | None |
| Answer» A. Crop Insurance | |
| 192. |
Risk insured against death is a contract of________ |
| A. | Agreement |
| B. | Indemnity |
| C. | Assurance |
| D. | None |
| Answer» C. Assurance | |
| 193. |
___________ policy issued on the basis of the number of persons assured |
| A. | Single life |
| B. | Level Premium |
| C. | Annuity |
| D. | Multiple life |
| Answer» D. Multiple life | |
| 194. |
The danger of loss from the unforeseen circumstances in future refers to ___________ |
| A. | Perils |
| B. | Hazards |
| C. | Damage |
| D. | Risk |
| Answer» D. Risk | |
| 195. |
Policy holders are expected to pay premium on due dates a period of 15-30 days is allowed as grace to make payment of premium from the due date is |
| A. | Day of grace |
| B. | Days of indemnity |
| C. | Both |
| D. | None |
| Answer» A. Day of grace | |
| 196. |
_______ is a theft committed by breaking out of the premises |
| A. | Burglary |
| B. | Blanket |
| C. | Fire |
| D. | None |
| Answer» A. Burglary | |
| 197. |
The central office of LIC of India is located at-----------. |
| A. | Mumbai |
| B. | New Delhi |
| C. | Bangalore |
| D. | Chennai |
| Answer» A. Mumbai | |
| 198. |
From the following which is not an example of fundamental risk. |
| A. | War |
| B. | Unemployment |
| C. | Inflation |
| D. | Burning of a house |
| Answer» D. Burning of a house | |
| 199. |
----------is based on the principle of co-operation |
| A. | Indemnity |
| B. | Insurance |
| C. | Claim |
| D. | None |
| Answer» B. Insurance | |
| 200. |
Fire insurance contract is a contract of --------. |
| A. | Guarantee |
| B. | Validity |
| C. | Contribution |
| D. | Indemnity |
| Answer» D. Indemnity | |
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