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Que. 1 : Q1) Which is the process of consideration of an insurance risk and this includes assessing whether risk is acceptable and, if so, setting the appropriate premium, together with the terms and conditions of cover?

   1.  a) Controlling risk

   2.  b) Underwriting

   3.  c) Interest risk

   4.  d) Mortality risk

Que. 2 : Q2) Which of the following are importance of interest rate risk to life insurance firms?

   1.  a) Life insurer performance is negatively related to changes in interest rates

   2.  b) higher leverage increases the insurer’s cost of capital

   3.  c) the investment portfolio of the typical highly leveraged insurer is concentrated in long-term fixed-income securities

   4.  d) All of the above

Que. 3 : Q3) Bombay Mutual Life Assurance Society heralded the birth of first Indian life Insurance Company in the year _________, and covered Indian lives at normal rates.

   1.  a) 1840

   2.  b) 1850

   3.  c) 1860

   4.  d) 1870

Que. 4 : Q4) Under which Insurance contract benefit amount will be payable either on the policyholder’s death during the term of the contract or on survival to the end of the term?

   1.  a) Deferred assurances

   2.  b) Whole life insurance contracts

   3.  c) Term Insurance contracts

   4.  d) Endowment Insurance contracts

Que. 5 : Q5) Which of the following if the primary attributes of a product?

   1.  a) Shape of product

   2.  b) Term of the product

   3.  c) Utility of product

   4.  d) All of the above