IC01 - LICENTIATE PRINCIPLES OF INSURANCE QUESTIONS

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IC01 Question With Answers - PRINCIPLES OF INSURANCE


ic01 question with answers



Q.) 1 ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is owned by ____ .

a.) LIC of India

b.)General Insurance Companies of India

c.) Government of India

d.) Export Promotion Councils All Public General Insurers  


Q (2): A customer is one who ...

a.) Refuse to purchase goods and services

b.) Buys the Goods and Services ,a business has to offer

c.) Produces the Goods and Services for Sale

d.) Receives the monetary benefits from the sale  


Q (3): Motor insurance covers which of the following ?

a.) Damage to individual

b.) Damage to car only

c.)Damage to property belonging to third parties

d.) All of the above

e.) None of the above


Q (4): For which of the family members mentioned below can a man take HEALTH INSURANCE ?

a.) His Brothers

b.) His Sisters

c.) His Uncles

d.) His Parents

e.) All of the above


Q (5): IBNR claims are __ .

a.) Incurred But Not Reviewed

b.) incurred but not reported

c.) Involved But Not Responsible

d.) edIncurred But Not Report

e.) Investigated But Not Reported  


Q (6): Which was the first company to conduct life insurance business in India?

a.) LIC of India

b.) Oriental Life Insurance Company

c.) GIC of India

d.) Madras Equitable

e.) Bharat Insurance Company  


Q (7): In which type of contract, the annuitant makes a lump sum payment to the insurance company and the insurance company starts paying annuities (periodic payments) soon after the policy commences?

a.) Deferred Annuity

b.) Lumpsum Annuity

c.) Immediate Annuity

d.) None of the above

e.) Any of the above


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