IC11 - LICENTIATE - Practice Of General Insurance 34

Get More Mock Tests Here


Q 1. Cold Calling is:

a) Meeting customers in winter

b) Meeting customers when they are suffering from cold

c) Meeting people unannounced

d) Meeting customer after fire was extinguished

Q 2. Under earthquake add-on cover, the excess is ____% of every claim.

a) 2%

b) 3%

c) 4%

d) 5%

Q 3. Which of the following principles prevents an insured from making a profit out of his loss?

a) Proximate cause

b) Pro-rata average

c) Indemnity

d) Insurable Interest

Q 4. Premium and claims are shown in accounts on _________.

a) Actual basis

b) Gross basis

c) Net basis

d) Claim basis

Q 5. Just because an insurer places facultative reinsurance on a policy will not make it ________.

a) Risk-free

b) More risky

c) Sudden risk

d) Constant risk

Q 6. In householders insurance

a) Gold and silver ornaments are covered

b) Contents of one shop are covered

c) Cars owned by the family are covered

d) Parcels sent by post are covered during transit.

Q 7. Under which of the following fidelity guarantee policies, per capita additional premium is charged

a) Collective

b) Floating

c) Positions

d) Blanket

Q 8. An insurer arranges for a policyholder's car to be repaired following damage by a negligent motorist. Under which insurance principle can the insurer recover the paid claim?

a) Average

b) Contribution

c) Indemnity

d) Subrogation

Q 9. The sum under CPAA Cancer policy is increased by _________% for each completed year of policy in force before claim.

a) 5%

b) 10%

c) 15%

d) 20%

Q 10. The Open Cover contract is generally issued for a period of __________ months.

a) 3

b) 6

c) 9

d) 12

Q 11. On acceptance of the offer of settlement by the insured,  the insurer shall make the payment within ______days from the date of acceptance of the offer

a) 7 days

b) 10 days

c) 15 days

d) 30 days

Q 12. The Average Clause in a Fire Policy discourages _________.

a) Over Insurance properly

b) Under Insurance of properly

c) Proper Insurance of property

d) Inclusion of unidentified perils

Q 13. Q13) Out of 400 houses, each valued at Rs.20, 000, 4 houses get burnt every year on an average resulting in a loss of Rs. 80,000. What should be the annual contribution of each house owner to make good this loss?

a) Rs.100/-

b) Rs.200/-

c) Rs.80/-

d) Rs.400/-

Q 14. Vessels under steam or pressure, boilers, steam pipes, air receivers, etc. are insurable under _________.

a) Vessel Insurance

b) Fire insurance

c) Engineering Insurance

d) Boiler insurance

Q 15. One way in which traders can suffer losses is_____________.

a) insolvency or default in payments by vendors

b) insolvency or default in payments by suppliers

c) insolvency or default in payments by exporters

d) insolvency or default in payments by buyers


Get More Mock Tests Here