IC01 (LICENTIATE) Principles of Insurance - 04
| Q1.What is the foundation of good governance? |
| Having little concern for others |
| High concern for self |
| Ethical behavior |
| Being honest |
| All of the above |
| Q2.Amendments to standard policy conditions are called ____. |
| Conditions |
| Endorsements |
| Exclusions |
| Warranties |
| Changes |
| Q3.Mr. Chetan has taken a common health insurance policy for himself and his spouse. Which type of policy is this? |
| Group Policy |
| Joint Policy |
| Family Floater Policy |
| Any of the above |
| None of the above |
| Q4.Political upheaval or government suddenly losing voting of confidence will be classified as which type of risk? |
| Static risk |
| Dynamic risk |
| Particular risk |
| Non Financial risk |
| Financial risk |
| Q5.One of the eligibility criteria for a TPA is that ____. |
| at least one of the directors should be a medical practitioner |
| at least two of the directors should be a medical practitioner |
| at least three of the directors should be a medical practitioner |
| No need for any of the directors be a medical practitioner |
| None of the above |
| Q6.What is the objective of the Tariff Advisory Committee (TAC)? |
| Issue regulations for guidelines on investment |
| Controlling and regulating the rates |
| Regulating rates especially for Non-life insurance |
| All of the above |
| None of the above |
| Q7.MPL and PML are used in ___ . |
| Hedging |
| Speculation |
| Human Resource Management |
| Risk Management |
| Spread Management |
| Q8._____ risk can often lead to bankruptcy. |
| Financial |
| Insurable |
| Non-Insurable |
| Catastrophic |
| Speculative |
| Q9.___ are economic resources |
| Capital |
| Assets |
| Liabilities |
| All of the above |
| None of the above |
| Q10.Miscellaneous insurance deals with ___. |
| Transit risk |
| Motor, Engineering, Burglary. |
| Damage due to Riots, Act of God. |
| All of the above |
| None of the above |