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Category: IC01 PRINCIPLES OF INSURANCE – 16

IC01 PRINCIPLES OF INSURANCE – 16

Que. 1 : Q1) Which of the below option is not similar to other four options ?

   1.  a) Gain

   2.  b) Loss

   3.  c) Probability [Your Answer is Wrong]

   4.  d) Damage

Que. 2 : Q2) What agreement exist between the four public sector insurers to prevent unhealthy competition ?

   1.  a) Anti Competition agreement

   2.  b) Universal agreement

   3.  c) Non life agreement

   4.  d) Market agreement

Que. 3 : Q3) When the person exposed to the risk determines that they are able to bear the loss associated with the risk, this is called as Risk________________.

   1.  a) Reduction

   2.  b) Avoidance

   3.  c) Retention

   4.  d) Transfer

Que. 4 : Q4) Which of the following events are covered under a crop insurance scheme ?

   1.  a) Scanty or no rains

   2.  b) Flooding

   3.  c) Crop disease

   4.  d) All of the above

Que. 5 : Q5) Which of the following statements is True?

   1.  a) In Absolute assignment the assignee doesnot acquire all the rights and liabilities of the original assured

   2.  b) Brothers and Sisters have Insurable Interest in each others life

   3.  c) Pure risks are Insurable while Speculative risk are not insurable

   4.  d) All the above statements are TRUE