IC11 - LICENTIATE - Practice Of General Insurance 30

Get More Mock Tests Here


Q 1. If certain terms and conditions of the policy need to be modified at the time of issuance, it is done by setting out the amendments through __________.

a) Warranty

b) Endorsement

c) Alteration

d) Modifications are not possible
 
Q 2. Which of the following is the function of IRDA?To protect the interests of policyholders in matters of

a) Settlement of claim

b) Fair and equitable rates of premium

c) Terms and conditions of insurance

d) All of the above
 
Q 3. Which of the following is not covered under the Overseas Employment and Study policy?

a) Medical Expenses in India on evacuation

b) Loss of checked baggage

c) Delayed baggage

d) Personal liability
 
Q 4. The liabilities which require compulsory insurance under motor vehicles are for death or bodily injury

a) Of any third party

b) Of any passenger of a public service vehicle

c) Damage to any property of a third party

d) All of the above
 
Q 5. Under IRDA guidelines which of the following policies fall under Exposure products?

a) Earthquake risk

b) Policies with a sum insured of Rs.2500 crores or more at one location for material damage

c) Policies with a sum insured of Rs 2500 crores or more at one location for combined material damage and business interruption

d) Liability insurance (Rs100 crores or more per event)
 
Q 6. To whom should the insurer inform while devising their re-insurance program every year?

a) RBI

b) GIC

c) SEBI

d) IRDAI
 
Q 7. Which one of the following is considered an uninsurable peril

a) Losses arising out of fire

b) Losses arising out of war and war-like operations

c) Property risk

d) Travel risks
 
Q 8. Which of the following appear as exclusions under personal accident insurance?

a) Childbirth or pregnancy

b) Service in the armed forces

c) Accident indirectly caused by insanity

d) All of the above
 
Q 9. Q13) The following is not a benefit of an insurance agency.

a) No limit on income from commission

b) Fixed salary income

c) Freedom to decide working hours

d) Social prestige
 
Q 10. Which of the following claims have to be supported by an independent medical report?

a) Personal Accident

b) Cattle

c) Third party (Injury

d) All of the above
 
Q 11. As per IRDA Regulations, a Surveyor has to be appointed within ______ hours/days of receipt of claim intimation from the insured.

a) 72 hours

b) 24 hours

c) 7 days

d) 15 days
 
Q 12. Mr. X has a factory and fears that excess rains will cause flooding, so he plans to shift the factory's location to a safer place. This is called _________.

a) Risk avoidance

b) Risk evaluation

c) Risk identification

d) Risk detection
 
Q 13. In which section of the policy document is the location of the property to be insured mentioned?

a) Schedule

b) Heading

c) Preamble

d) Conditions
 
Q 14. How are the claims costs ideally controlled?

a) by improved application of dividend payments

b) by improved application of loss management

c) by improved application of risks

d) by improved application of damage control
 
Q 15. Select the expanded form of FPA as used in insurance

a) Freight Payable Assured

b) Free of Particular Average

c) Fire Perils Added

d) Fixed Peripherals Added



Get More Mock Tests Here