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Category: IC01 PRINCIPLES OF INSURANCE – 14

IC01 PRINCIPLES OF INSURANCE – 14

Que. 1 : Q1) Which was the first company to conduct Life Insurance Business in India?

   1.  a) Madras Equitable

   2.  b) Bombay Mutual

   3.  c) Oriental Life Insurance Company

   4.  d) Bharat Insurance Company

Que. 2 : Q2) With respect to a legal contract, consideration

   1.  a) is not necessary with respect to contracts

   2.  b) can be the payment of an outstanding debt

   3.  c) is an Inducement to enter into the contract

   4.  d) None of the above

Que. 3 : Q3) Particular risk is a risk that affects

   1.  a) Entire economy

   2.  b) Only individual

   3.  c) Government

   4.  d) None of the above

Que. 4 : Q4) The Policy Document provides for

   1.  a) Details of Promises made by the Insurer

   2.  b) Conditions attached to the Policy

   3.  c) Obligations of the policy Holder

   4.  d) All of the above

Que. 5 : Q5) The Principle which prohibits the insured to recover the losses from several insurance companies__________

   1.  a) Principle of Subrogation

   2.  b) Principle of Contribution

   3.  c) Principle of Indemnity

   4.  d) Principle of Utmost Good Faith