IC11 - LICENTIATE - Practice Of General Insurance 18
IC11 - LICENTIATE - Practice Of General Insurance 18
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Q 1. Janta Personal Accident (JPA) policy contracts are for________________.
a) Very short-term basis
b) Annual basis
c) Long-term basis
d) Annual or Long term basis
Q 2.
The full form of MACT is __________.
a) Motor Accident Claim Tribunal (MACT)
a) Motor and Aviation Claim Tribunal
b) Maximum Action Core Team
c) None of the above
Q 3. Classification of customers into various market segments, having common features is known as _____________.
a) Sales
b) Segmentation
c) Marketing
d) Prospecting
Q 4. Which policy section deals with damage to insured vehicles?
a) Own damage claims
b) Total Loss claims
c) Theft claims
d) Liability claims
Q 5. In the case of Taxies which of the following is False?
a) Taxies up to 3 years old will be issued comprehensive cover
b) Taxies up to 5 years old will be issued comprehensive cover subject to inspection
c) Taxies whose age is above 7 years shall be issued comprehensive cover subject to inspection and additional excess
d) Taxies that are 5 to 7 years old shall be issued subject to inspection and additional excess
Q 6. Which of the following statements is True? As per fire policy conditions on the happening of a loss (1) The insurers have a right to take possession of the premises where the loss has occurred. (2) The insured can abandon the damaged property to the
a) Statement 1 is True
b) Statement 2 is True
c) Both are true
d) Both are false
Q 7. ______________is the most common form of organization in business.
a) NGO
b) Company
c) Retail business
d) Financial institution
Q 8. Under the Mediclaim policy, any disease contracted by the insured during the first ______ days from the commencement of the policy is excluded.
a) 15 days
b) 30 days
c) 45 days
d) 60 days
Q 9. To which of the following does the Employees State Insurance Act, of 1948 apply?
a) Employees of the Central Government
b) Employees of the State Government
c) Employees of Public Sector manufacturing companies
d) Industrial employees as notified by the Government
Q 10. What are the claims recoveries made from third parties known as?
a) Contribution
b) Closure
c) Salvage
d) Subrogation
Q 11. Personal accident policies cover the risk of
a) unemployment
b) sickness/illness
c) accidental injuries
d) none of the above
Q 12. Under Jewelers Block policy which of the following properties is covered against specified risks only and not on A risks basis?
a) On-premises
b) In transit by air freight
c) In transit by angadia
d) In the custody of brokers
Q 13. Q13) The Insurance Ombudsman can settle the dispute where the amount involved is less than________lakh.
a) 10 lakh
b) 15 lakhs
c) 20 lakhs
d) 25 lakhs
Q 14. For how long is the open cover generally valid?
a) 6 month
b) 1 year
c) 2 years
d) 5 years
Q 15. If a policy is taken out on June 1st and the Financial Year starts on 1st April, the unearned premium reserve is
a) 2/12ths
b) 3/12 ths
c) 10/12 ths