Question 1

A health insurance should be

Accepted Answer

A)  Affordable
B)  Continuous
C)  Universal
D)  All of thoseE) A) and D)
F) A) and B)

Question 2

When a company reinsures its liability with another, then it ________ business

Accepted Answer

A)  Cession
B)  Cedes
C)  Ceding
D)  NoneE) All of the above
F) A) and B)

Question 3

________ is a package policy which provides protection against a number of separate points.

Accepted Answer

A)  Single peril policy
B)  Group peril policy
C)  Multiperil policy
D)  NoneE) C) and D)
F) A) and C)

Question 4

________ is the property saved from loss

Accepted Answer

A)  Profit
B)  Salvage
C)  Stand
D)  JettisonE) C) and D)
F) B) and C)

Question 5

The transit risk caused by fire is covered under ________ policy

Accepted Answer

A)  Excess policy
B)  Floating policy
C)  All risk policy
D)  transit policyE) All of the above
F) A) and B)

Question 6

________ is a plan designed for businessmen and professionals as money is available periodically.

Accepted Answer

A)  Jeevan Surabhi
B)  Jeevan Saathi
C)  Jeevan Kishore
D)  Jeevan SukanyaE) A) and B)
F) B) and C)

Question 7

The scope of protection provided under the contract of insurance is ______

Accepted Answer

A)  Condition
B)  Coverage
C)  Contribution
D)  NoneE) A) and D)
F) All of the above B

Question 8

Insurable interest must be present in an ________ insurance contract at the time of contract and at the time of loss.

Accepted Answer

A)  Fire
B)  Marine
C)  Property
D)  LifeE) All of the above
F) B) and D) A

Question 9

LIC Housing Finance Ltd. was incorporated on ________

Accepted Answer

A)  1984
B)  1989
C)  1969
D)  1993E) B) and C)
F) A) and D)

Question 10

________ is also known as all risk policy

Accepted Answer

A)  Comprehensive policy
B)  Excess policy
C)  Floating policy
D)  Adjustable policyE) B) and C)
F) None of the above

Question 11

Final accounts of Life Insurance Companies include

Accepted Answer

A)  Revenue account
B)  Profit and loss account
C)  Receipt and payment account
D)  All of theseE) All of the above
F) None of the above

Question 12

An international code of ________ rules applied to Marine losses

Accepted Answer

A)  York Antwerp rule
B)  York Antiperil rule
C)  Both (a)  and (b) 
D)  NoneE) C) and D)
F) A) and D)

Question 13

________ are extra benefits under the policy

Accepted Answer

A)  Riders
B)  Loans
C)  both (a)  and (b) 
D)  NoneE) None of the above
F) All of the above A

Question 14

The risk of individuals and families are cored under ________

Accepted Answer

A)  Personal insurance
B)  Property insurance
C)  Liability insurance
D)  AllE) All of the above
F) A) and B)

Question 15

From the following which is a character of Life Insurance Services

Accepted Answer

A)  Intangibility
B)  Heterogeneity
C)  Inseparability
D)  All of theseE) B) and D)
F) A) and C)

Question 16

From the following, which is a type of reserve in insurance business

Accepted Answer

A)  Unearned Premium Reserve
B)  Un-expired Risk Reserve
C)  Outstanding Claims Reserve
D)  All of theseE) None of the above
F) B) and C)

Exam 6: Insurance and Risk Management: Part B

A health insurance should be

Correct Answer
verified

When a company reinsures its liability with another, then it ________ business

Correct Answer
verified

________ is a package policy which provides protection against a number of separate points.

Correct Answer
verified

________ is the property saved from loss

Correct Answer
verified

The transit risk caused by fire is covered under ________ policy

Correct Answer
verified

________ is a plan designed for businessmen and professionals as money is available periodically.

Correct Answer
verified

The scope of protection provided under the contract of insurance is ______

Correct Answer
verified
B

Insurable interest must be present in an ________ insurance contract at the time of contract and at the time of loss.

Correct Answer
verified
A

LIC Housing Finance Ltd. was incorporated on ________

Correct Answer
verified

________ is also known as all risk policy

Correct Answer
verified

Final accounts of Life Insurance Companies include

Correct Answer
verified

An international code of ________ rules applied to Marine losses

Correct Answer
verified

________ are extra benefits under the policy

Correct Answer
verified
A

The risk of individuals and families are cored under ________

Correct Answer
verified

From the following which is a character of Life Insurance Services

Correct Answer
verified

From the following, which is a type of reserve in insurance business

Correct Answer
verified

Exam 6: Insurance and Risk Management: Part B

A health insurance should be

Correct AnswerverifiedShow Answer

When a company reinsures its liability with another, then it ________ business

Correct AnswerverifiedShow Answer

________ is a package policy which provides protection against a number of separate points.

Correct AnswerverifiedShow Answer

________ is the property saved from loss

Correct AnswerverifiedShow Answer

The transit risk caused by fire is covered under ________ policy

Correct AnswerverifiedShow Answer

________ is a plan designed for businessmen and professionals as money is available periodically.

Correct AnswerverifiedShow Answer

The scope of protection provided under the contract of insurance is ______

Correct AnswerverifiedB

Insurable interest must be present in an ________ insurance contract at the time of contract and at the time of loss.

Correct AnswerverifiedA

LIC Housing Finance Ltd. was incorporated on ________

Correct AnswerverifiedShow Answer

________ is also known as all risk policy

Correct AnswerverifiedShow Answer

Final accounts of Life Insurance Companies include

Correct AnswerverifiedShow Answer

An international code of ________ rules applied to Marine losses

Correct AnswerverifiedShow Answer

________ are extra benefits under the policy

Correct AnswerverifiedA

The risk of individuals and families are cored under ________

Correct AnswerverifiedShow Answer

From the following which is a character of Life Insurance Services

Correct AnswerverifiedShow Answer

From the following, which is a type of reserve in insurance business

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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B

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A

Correct Answer
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A

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Correct Answer
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Correct Answer
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