31.  An insurance company not licensed to do business within a given state is called

a

  Pure Risk

b

 Proximate Clause

c

 Product Liability

d

 Non-admitted Insurer

Answer & Explanation
Answer : Option D

32.  A method of permitting the final premium for a risk to be adjusted, subject to an agreed-upon maximum and minimum limit based on actual loss experience is called

a

  Retention

b

 Retrocession

c

 Retrospective Rating

d

 None of the Above

Answer & Explanation
Answer : Option C

33.  The headquarters of National Insurance Company Ltd (NIC) is located in

a

  Pune

b

 Mumbai

c

 Kolkata

d

 Chennai

Answer & Explanation
Answer : Option C

34.  Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires is termed as

a

  Annuitization

b

 Affinity sales

c

 Earned Premium

d

 Demutualization

Answer & Explanation
Answer : Option C

35.  An endorsement added to an insurance policy, or clause within a policy, that provides additional coverage for risks other than those in a basic policy is termed as

a

  Expense Ratio

b

 Extended Coverage

c

 Expected Loss Ratio

d

 Extra Expense Insurance

Answer & Explanation
Answer : Option B

36.  Which of the following is not the name of an Insurance Scheme launched by the Government of India -

a

  Varsha Bima Yojana

b

 Janashree Bima Yojana

c

 Shiksha Sahyog Yojana

d

 Krishi Shramik Sarnajik Suraksha Yojana

Answer & Explanation
Answer : Option A

37.  is the age at which the receipt of pension starts in an insurance-cum-pension plan.

a

  Vesting age

b

 Maturity age

c

 Starting age

d

 Surrender age

Answer & Explanation
Answer : Option A

38.  The punch line of the advertisement of which of the following organization is 'Jindagi ke sath bhi Jindagi ke bad bhi'?

a

  Life Insurance Corporation Of India

b

 General Insurance Corporation

c

 New India Assurance

d

 ICICI Prudential

Answer & Explanation
Answer : Option A

39.  Which of the following insurance companies writes its punch line in the advertisements 'Insurance is the subject matter of solicitation'?

a

  LIC

b

 CIC

c

 Tata AIG Life Insurance Co.

d

 ING Vysya Life Insurance Co.

Answer & Explanation
Answer : Option A

40.  Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency is termed as

a

  Convertible

b

 Credit Insurance

c

 Contingent Liability

d

 Contractual Liability

Answer & Explanation
Answer : Option B

41.  The headquarters of New India Assurance is located in

a

  Pune

b

 Mumbai

c

 Chennai

d

 Hyderabad

Answer & Explanation
Answer : Option B

42.  'We know Healthcare' is the tagline of

a

  LIC

b

 UIICL

c

 Apollo Munich

d

 Oriental Insurance

Answer & Explanation
Answer : Option C

43.  Which of the following insurance plan is not launched by LIC?

a

  Jeevan Saral

b

 Child Career Plan

c

 Jeevan Abhaya

d

 Life Mahalife Gold Plan

Answer & Explanation
Answer : Option D

44.  Insurance that is renewable for a limited number of successive terms by the policyholder and is not contingent upon medical examination is called

a

  Group Insurance

b

 Social Insurance

c

 Hospital Insurance

d

 Renewable Term Insurance

Answer & Explanation
Answer : Option D

45.  Anmol Jeevan is a of the LIC

a

  Pension Plan

b

 Children's Plan

c

 Term Insurance Plan

d

 Basic Life Insurance Plan

Answer & Explanation
Answer : Option C
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