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Category: IC01 PRINCIPLES OF INSURANCE – 03

IC01 PRINCIPLES OF INSURANCE – 03

Que. 1 : Q1) In an insurance policy ‘Maturity Benefit’ is also known as______________.

   1.  a) Death Benefit

   2.  b) Survival Benefit

   3.  c) Vesting benefit

   4.  d) Deferred benefit

Que. 2 : Q2) ______was formed in 1972 and was made the holding company of four PSU General Insurance Companies.

   1.  a) IRDA

   2.  b) Insurance Association of India

   3.  c) General Insurance Corporation

   4.  d) R.N.Malhotra Committee

Que. 3 : Q3) Which of the following may be considered as the benefits of a professional insurance market?

   1.  a) means of savings

   2.  b) source of employment

   3.  c) encouragement of economic development

   4.  d) All of the above

Que. 4 : Q4) The national commission under consumer protection act can entertain a complaint where the compensation claimed exceeds Rs____.

   1.  a) 25 lakhs

   2.  b) 50 lakhs

   3.  c) 75 lakhs

   4.  d) 1 crores

Que. 5 : Q5) Select the expanded form of ICC as used in Insurance

   1.  a) Insurance Cargo Clauses

   2.  b) Insurance Claim Clauses

   3.  c) Institute Cargo Clauses

   4.  d) Insurance Claim Contacts