IC11 PRACTICE OF GENERAL INSURANCE EXAM - 13

Q1.The Janta Personal Accident (JPA) policy is specifically designed for__.
 Higher sections of the society
 Weaker sections of the society
 All sections of the society
 Common sections of the society
 Public sections of the society
 
Q2.If the insurer is not interested in the renewal of the policy, it has to give ____.
 Actual notice
 Meeting notice
 Prior notice
 Public notice
 Expired notice
 
Q3.When the Money transit insurance is renewed, the premium is calculated on the basis of ___.
 Only money
 Money in transit
The actual money in transit
 Insurance policy
 Contract basis
 
Q4.The cargo clause comes under the category of ____.
 Sec A B C
 Sec 1
 Sec 3
 Sec B D S
 Sec B C D
 
Q5.Concentrated efforts should be made by the insurance companies to review and reduce the ____.
 Normal expenses ratio
 Fluctuating expenses ratio
 Management expenses ratio
 General expenses ratio
 Expenses ratio
 
Q6.The full form of ALOP is ___.
 Advance loss of property
 Advance loss of penalty
 Advance loss of policy
Advance Loss of profits
 Advance loss of pension
 
Q7.A Certificate of Insurance is issued in addition to the policy in motor insurance. This is required by ___.
 General Insurance act
 Consumer act
 Property Insurance act
 LIC act
 Motor Vehicles act
 
Q8.Some risks are considered as extra hazardous and are therefore declined. These are called ___.
 Speculative Risk
 Damage risk
 Declined risk
 Hazardous risk
 Destruction risk
 
Q9.Traders can suffer losses by reason of insolvency of or protracted default in payment on the part of __.
 Sellers
 Vendors
 Consumers
 Buyers
 Suppliers
 
Q10.Which authority can intervene in the affairs of an insurer?
 Any legal regulatory body
 IRDAI
 Central Government
Policyholder
 State Government

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