1.  A whole life policy in which premiums are payable as long as the insured lives is called

a

  Straight Life

b

 Subrogation

c

 Subjective Risk

d

 Straight Life Annuity

Answer & Explanation
Answer : Option A

2.  'You Focus on Exports. We recover the risks.'is the tagline of which insurance company?

a

  LIC

b

 ECGC

c

 National Insurance

d

 New India Assurance

Answer & Explanation
Answer : Option B

3.  IDC stands for

a

  Insurer Declared Value

b

 Insured Declared Value

c

 Interest Declared Value

d

 Insurance Declared Value

Answer & Explanation
Answer : Option B

4.  is a coverage designed to protect businesses from liabilities that arise from the conducting of business over the Internet, including copyright infringement, defamation, and violation of priv

a

  Gap Insurance

b

 Inflation Guard Clause

c

 Inland Marine Insurance

d

 Internet Liability Insurance

Answer & Explanation
Answer : Option D

5.  'Sampann Bharath ki pehchan,Beemith Phasal Khusal Kisan'is the tagline of which insurance company?

a

  LIC

b

 National Insurance

c

 New India Assurance

d

 Agricultural Insurance

Answer & Explanation
Answer : Option D

6.  A person who identifies, examines & classifies the degree of risk represented by a proposed insured in order to determine whether or not coverage should be provided and, if so, at what rate is called

a

  Underwriter

b

 Underwriting Risk

c

 Universal Life Insurance

d

 Unauthorized Reinsurance

Answer & Explanation
Answer : Option A

7.  Which of the following types of companies/organisations issue ULIP?

a

  RBI

b

 Banks

c

 Stock brokers

d

 Insurance companies

Answer & Explanation
Answer : Option D

8.  Which of the following term is not used in insurance sector?

a

  Casualty

b

 Coverage

c

 Indemnity

d

 Misuse Alert

Answer & Explanation
Answer : Option D

9.  Which principle specifies an insured should not collect more than the actual cash value of a loss?

a

  Annuity

b

 Liquidity

c

 Premium

d

 Indemnity

Answer & Explanation
Answer : Option D

10.  Which of the following is the regulator of insurance sector in India?

a

  RBI

b

 SEBI

c

 IRDA

d

 IRDAI

Answer & Explanation
Answer : Option D

11.  is legal contract in which the outcome depends on an uncertain event.

a

  Aleatory contract

b

 Aggregate Limits

c

 All-Risk Agreement

d

 Affirmative Warranty

Answer & Explanation
Answer : Option A

12.  Which of the following is an optional feature that can be added to a policy?

a

  Rider

b

 Annuity

c

 Sum Assured

d

 Maturity Value

Answer & Explanation
Answer : Option A

13.  The ratio of losses incurred to premiums earned actually experienced in a given line of insurance activity in a previous time period is called

a

  Acts Of God

b

 Combined Ratio

c

 Actual Loss Ratio

d

 Actuarial Cost Assumptions

Answer & Explanation
Answer : Option C

14.  A written form attached to an insurance policy that alters the policy's coverage, terms, or conditions is termed as

a

  Exclusion

b

 Endorsement

c

 Escrow Account

d

 Earned Premium

Answer & Explanation
Answer : Option B

15.  In Insurance, CGL stands for

a

  Control General Liability

b

 Captive General Liability

c

 Common General Liability

d

 Commercial General Liability

Answer & Explanation
Answer : Option D
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