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Category: IC01 PRINCIPLES OF INSURANCE – 11

IC01 PRINCIPLES OF INSURANCE – 11

Que. 1 : Q1) Which kind of risk is not insurable?

   1.  a) A pure risk

   2.  b) A particular risk

   3.  c) A fundamental risk

   4.  d) A financial risk

Que. 2 : Q2) What distinguishes an wagering contract from an insurance contract and makes it non speculative ?

   1.  a) Principal of utmost good faith

   2.  b) Principal of Indemnity

   3.  c) Principal of division of risk

   4.  d) Principal of Insurable Interest

Que. 3 : Q3) Bharat Insurance Company Ltd. was________________.

   1.  a) 1st life insurance company in India

   2.  b) 1st non-life insurance company in India

   3.  c) started in Mumbai in 1870

   4.  d) was started in Delhi in 1896

Que. 4 : Q4) In the insurance sector, who attempts to identify and eliminate or reduce risks ?

   1.  a) Peril Manager

   2.  b) Professional Manager

   3.  c) Event Manager

   4.  d) Risk Manager

Que. 5 : Q5) Which of the following Principles do not apply for Life Insurance Contracts?

   1.  a) The Principle of Utmost Good Faith

   2.  b) The Principle of Insurable Interest

   3.  c) The Principle of Indemnity

   4.  d) The Principle of Large Numbers