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Category: IC01 PRINCIPLES OF INSURANCE – 13

IC01 PRINCIPLES OF INSURANCE – 13

Que. 1 : Q1) The total of the actual loss and the consequential loss is known as the

   1.  a) Maximum Probable Loss

   2.  b) Probable Maximum Loss

   3.  c) Maximum Possible Loss

   4.  d) Minimum Possible Loss

Que. 2 : Q2) RTI means___________.

   1.  a) Right to infrastructure

   2.  b) Right to information

   3.  c) Right to immunity

   4.  d) Right to intelligence

Que. 3 : Q3) How are perils and hazards normally distinguished under term insurance policies?

   1.  a) Perils are medical factors which influence the risk of dying and hazards are lifestyle activities which influence the risk of dying

   2.  b) Perils are risks that policyholders will die before a specified date and hazards are factors which could influence that risk

   3.  c) Perils are factors which affect the risk being insured and hazards are the size of the risk being insured

   4.  d) Perils are factors which could influence an insured event occurring and hazards are the actual events which will trigger a payout

Que. 4 : Q4) Premium rates for Non Participating Polcicies are lower than Corresponding Participating Policies

   1.  a) TRUE

   2.  b) FALSE

   3.  c) Premium is decided on case to case basis

   4.  d) Non Participating Policies are not available in India.

Que. 5 : Q5) Personal History affects Longevity of the proponent.

   1.  a) TRUE

   2.  b) FALSE

   3.  c) Personal History is not related to Premium

   4.  d) Personal History need not be disclosed