IC11 PRACTICE OF GENERAL INSURANCE EXAM – 09

Q1.Motor vehicles are classified into _ major categories.
 1
 2
 3
 4
 5

 

Q2.In whose name can the Special Declaration Policy NOT be issued?
 Single name
 Own name
 Nominee name
 Agents name
 Joint names

 

Q3.There is an increase in burglaries due to ____.
 Fall in the stock markets
 Economic Depression
 Non-education
 Unemployment
 Deflation

 

Q4.Premium and claims are shown in accounts on ____.
 Actual basis
 Gross basis
 Net basis
 Claim basis
 Earned basis

 

Q5.Does ERF contribution form part of which act liability?
 Public liability act
 Insurance Act
 Workmen Compensation Act
 Motor Vehicle Act
 Marine Insurance Act

 

Q6.For insurance companies, the acceptance of the proposal is done by __.
 Actuaries
 Agent
 Underwriter
 Insurance Executive
Policyholder

 

Q7.What is the amount of claim payable under franchise limit is 300 when the amount of loss is Rs 580/-
 Rs 100
 Rs 300
 Rs 500
 Rs 580
 NIL

 

Q8.Which ratio should be regularly reviewed and reduced by an Insurance Company?
 Profit to Earning ratio
 Management Expense ratio
 Turnover ratio
 General Expense ratio
 Expense ratio

 

Q9.Which insurance provides cover against the death of animals like cows, bulls, etc. within the geographical area?
 Animal insurance
 Cattle insurance
 Farm insurance
 Agricultural equipment insurance
 Domestic Livestock insurance

 

Q10.The constitution of ____ was done as per the provisions of the Motor Vehicle Act.
 MACT – Motor Accidents Claim Tribunal
 FACT – Fatal Accidents Claim Tribunal
 Motor Damages Act
 Motor Vehicles Accident Act
 Motor Tribunal Act

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