McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 151. |
Time policy is taken in the case of ________ insurance |
| A. | Hull |
| B. | Cargo |
| C. | Fright |
| D. | All of these |
| Answer» A. Hull | |
| 152. |
_______ policy covers both land and sea sides |
| A. | Blanket |
| B. | Block |
| C. | Currency |
| D. | Cargo |
| Answer» B. Block | |
| 153. |
Expanded form of PPL policy is ___________ |
| A. | Policy Procedure of Interest |
| B. | Policy Port of Interest |
| C. | Policy proof of interest |
| D. | Port proof of interest |
| Answer» C. Policy proof of interest | |
| 154. |
______ Policy is taken for the shipment of a particular cargo only |
| A. | Blanket |
| B. | Block |
| C. | Cargo |
| D. | Composite |
| Answer» C. Cargo | |
| 155. |
__________ means a 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 the 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. |
The receipt and rate of premium is mentioned in _____ clause. |
| A. | Waiver |
| B. | Premium |
| C. | Barratry |
| D. | Jettison |
| Answer» B. Premium | |
| 159. |
Salvage charges means the charges increased by a _______ |
| A. | Salver |
| B. | Salvages |
| C. | Insurer |
| D. | Insured |
| Answer» A. Salver | |
| 160. |
G.A., P.A. etc. are used in the freight causes are known as |
| A. | Insurance Freight clauses |
| B. | Institute Freight clauses |
| C. | Interest on Freight clauses |
| D. | None of these |
| Answer» B. Institute Freight clauses | |
| 161. |
General Insurance policies are issued for a period of |
| A. | 1 year |
| B. | 2 year |
| C. | 10 year |
| D. | 4 year |
| Answer» A. 1 year | |
| 162. |
_______ means the act of throwing a part of the cargo over board lighten the ship in emergencies |
| A. | Barratry |
| B. | Jettison |
| C. | Waiver |
| D. | Premium |
| Answer» B. Jettison | |
| 163. |
Fire insurance came into existence after the Great Fire of the London in ___________ |
| A. | 1666 |
| B. | 1866 |
| C. | 1686 |
| D. | 1687 |
| Answer» A. 1666 | |
| 164. |
Fire insurance is a device to compensate the insured for the loss caused by _______ |
| A. | Fire |
| B. | Water |
| C. | Flood |
| D. | None |
| Answer» A. Fire | |
| 165. |
Fire insurance is a contract of ____________ |
| A. | Uberrimae Fidei |
| B. | Uberrima Fide |
| C. | Uberrim fidi |
| D. | Uperrima fibi |
| Answer» A. Uberrimae Fidei | |
| 166. |
Uberrimae Fidei means _________ |
| A. | Absolute good faith |
| B. | Absolute faith |
| C. | Relative faith |
| D. | these |
| Answer» A. Absolute good faith | |
| 167. |
A valuable policy is just opposite to the ________ |
| A. | Value policy |
| B. | Valued policy |
| C. | Both |
| D. | None |
| Answer» B. Valued policy | |
| 168. |
________ Policy covers both fixed and current assets of insured manufactures. |
| A. | Block |
| B. | Blanket |
| C. | Transit |
| D. | Excess |
| Answer» B. Blanket | |
| 169. |
_________ is a contract between two insures i.e. original insurer and another insurer. |
| A. | Insurance |
| B. | Reinsurance |
| C. | Policy |
| D. | Premium |
| Answer» B. Reinsurance | |
| 170. |
Reinsurance can be called as ________ |
| A. | Insurance of Insurance |
| B. | Insurance of insures |
| C. | Insurance of insurance policy |
| D. | None |
| Answer» A. Insurance of Insurance | |
| 171. |
Under _________ no insurer will transit the business individually |
| A. | Reinsurance |
| B. | Treaty reinsurance |
| C. | Pool insurance |
| D. | Facultative insurance |
| Answer» C. Pool insurance | |
| 172. |
EEI means |
| A. | Electrical Equipment Insurance |
| B. | Electronic Equipment Insurance |
| C. | Elective Insurance |
| D. | Electronic Erection Insurance |
| Answer» D. Electronic Erection Insurance | |
| 173. |
____________ Policy is a combination of floating and average policies |
| A. | Excess |
| B. | Floating |
| C. | Specific |
| D. | Valued |
| Answer» A. Excess | |
| 174. |
__________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter. |
| A. | Reinsurance |
| B. | General Insurance |
| C. | Single insurance |
| D. | Double insurance |
| Answer» D. Double insurance | |
| 175. |
_______ involves proportionate sharing of the insurance among more than one insurer. |
| A. | Reinsurance |
| B. | Double Insurance |
| C. | Co-insurance |
| D. | None |
| Answer» C. Co-insurance | |
| 176. |
________ means insuring again. |
| A. | General insurance |
| B. | Reinsurance |
| C. | Coinsurance |
| D. | Double insurance |
| Answer» B. Reinsurance | |
| 177. |
From the following which is function of insurance |
| A. | Risk bearing |
| B. | Provide savings |
| C. | Provides savings |
| D. | All of these |
| Answer» D. All of these | |
| 178. |
The amount given by way of insurance and therefore the amount accepted by the reinsurance is known as __________ |
| A. | Cession |
| B. | Retrocession |
| C. | Retention |
| D. | Ceding |
| Answer» A. Cession | |
| 179. |
The insurer who obtains a guarantee is _________ |
| A. | Ceding insurer |
| B. | Re-insurer |
| C. | Direct insurer |
| D. | Under write |
| Answer» A. Ceding insurer | |
| 180. |
The proportion of the risk which the direct insurer holds on his own account is called _________ |
| A. | Cession |
| B. | Retention |
| C. | Retrocession |
| D. | Line |
| Answer» B. Retention | |
| 181. |
Re-insurer is the insurer who grants a guarantee from the_______ |
| A. | Ceding insurer |
| B. | Direct insurer |
| C. | Underwriter |
| D. | Line |
| Answer» B. Direct insurer | |
| 182. |
From the following which is not a non-proportional form of reinsurance? |
| A. | Excess of loss method |
| B. | Pools method of re insurance |
| C. | Treaty method of reinsurance |
| D. | Quata Method of reinsurance |
| Answer» D. Quata Method of reinsurance | |
| 183. |
When the amount for which a subject matter is insured is more than its actual value, it is called _________ |
| A. | Reinsurance |
| B. | Double insurance |
| C. | Over insurance |
| D. | None |
| Answer» C. Over insurance | |
| 184. |
________ insurance means an alternative to purchasing insurance in a commercial market. |
| A. | External |
| B. | Internal |
| C. | Double |
| D. | Re insurance |
| Answer» B. Internal | |
| 185. |
__________ Insurance is a contract to provide a measure of financial support to farmers in the event of a crop failure due to drought or flood. |
| A. | Cattle |
| B. | Crop |
| C. | Burglary |
| D. | Fire |
| Answer» B. Crop | |
| 186. |
________ means the transfer of all the rights and remedies available to the insured in respect of the subject matter to the insurer after indemnity has been effected. |
| A. | Subrogation |
| B. | Indemnity |
| C. | Contribution |
| D. | None |
| Answer» A. Subrogation | |
| 187. |
____________ is a policy in which the limits of the risks are determined by place of particular voyage. |
| A. | Time policy |
| B. | Valued policy |
| C. | Voyage Policy |
| D. | Floating policy |
| Answer» C. Voyage Policy | |
| 188. |
Life insurance policies are issued for ________ years duration. |
| A. | 15-20 |
| B. | 5-10 |
| C. | 10-15 |
| D. | 10-20 |
| Answer» B. 5-10 | |
| 189. |
A fire policy containing an average clause is _________ |
| A. | Valued policy |
| B. | Average policy |
| C. | Specific policy |
| D. | Floating policy |
| Answer» B. Average policy | |
| 190. |
A ___________ policy covers loss on goods which are laying in different places. |
| A. | Specific |
| B. | Declaration |
| C. | Replacement |
| D. | Floating |
| Answer» D. Floating | |
| 191. |
An unlooked mishap or an untoward event which is not expected or designed |
| A. | Risk |
| B. | Accident |
| C. | Loss |
| D. | None |
| Answer» B. Accident | |
| 192. |
Property Insurance may not include ___________ |
| A. | Burglary |
| B. | Fidelity |
| C. | Insolvency |
| D. | Sickness |
| Answer» D. Sickness | |
| 193. |
___________ 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 | |
| 194. |
_________ is known as Rashtriya Krishi Bima Yojana |
| A. | Crop insurance |
| B. | Hut Insurance |
| C. | Property Insurance |
| D. | None |
| Answer» A. Crop insurance | |
| 195. |
Crop insurance scheme came into existence in India in ________ |
| A. | 1998 |
| B. | 1999 |
| C. | 1997 |
| D. | 2000 |
| Answer» B. 1999 | |
| 196. |
Crop insurance covers the risks of __________ |
| A. | Natural fire |
| B. | Storm |
| C. | Drought |
| D. | All of these |
| Answer» D. All of these | |
| 197. |
From the following which is not a horticulture crop? |
| A. | Grape |
| B. | Litrus |
| C. | Banana |
| D. | Coffee |
| Answer» D. Coffee | |
| 198. |
Crop insurance scheme is also known as __________ |
| A. | Multi purpose policy |
| B. | Wagering policy |
| C. | Rashtriya Krishi Bima Yougan |
| D. | Jan Arogya Bima policy |
| Answer» C. Rashtriya Krishi Bima Yougan | |
| 199. |
Motor vehicle insurance begin in ___________ |
| A. | U.K. 9 |
| B. | USA |
| C. | India |
| D. | Japan |
| Answer» A. U.K. 9 | |
| 200. |
Public liability Insurance act established in _______ |
| A. | 1990 |
| B. | 1991 |
| C. | 1992 |
| D. | 1993 |
| Answer» B. 1991 | |
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