IC11 - LICENTIATE - Practice Of General Insurance 36
IC11 - LICENTIATE - Practice Of General Insurance 36
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Q 1. What pattern does the procedure concerning claims under various classes of insurance follow?
a) Common Pattern
b) Special Pattern
c) Modular Pattern
d) Fixed Pattern
Q 2. Which among the following is not a function of insurance?
a) Risk mitigation
b) Risk transfer
c) Risk tracking
d) Risk reduction
Q 3. When there is a fraudulent breach of utmost good faith the insurance contract becomes
a) Unenforceable in a Court of Law
b) Illegal
c) Void
d) Voidable
Q 4. The General Insurance Corporation is also commonly known as ____________.
a) Government Re-insurer
b) Trusted reinsurer
c) Reinsurer
d) National reinsurer
Q 5. What is TAT?
a) Time and Turn
b) Till a Time
c) Time and Tide
d) Turnaround Time
Q 6. The rate of premium is based on
a) Degree of hazard
b) Variations in degree of hazard
c) Past losses experience
d) All of the above
Q 7. Which of the following does not appear in the indemnity clause of Workers Compensation insurance?
a) Common Law
b) Workmen Compensation Act
c) Fatal Accidents Act
d) Employees State Insurance Act
Q 8. Under Health Insurance policy, which of the following is not usually covered or covered with sub-limits?
a) Chemotherapy
b) Radiotherapy
c) Naturopathy
d) Cost of pacemaker
Q 9. Which of the following extensions of cover are relevant to public liability policy for hotels?
a) Pollution
b) Property in the Beverages
c) Property in the custody insured
d) All of the above
Q 10. Which among the following is a process of risk management?
a) Customer Service
b) Loss Prevention and Reduction
c) Renewal Procedure
d) Documentation Procedure
Q 11. Which of the below is covered under a money insurance policy?
a) Shortage due to error or omission
b) Loss of cash from one premises due to burglary
c) Loss of money that has been entrusted to other than an authorized person
d) Riot strike and terrorism
Q 12. Select the correct statement:
a) Ethical behaviour is impossible while selling insurance
b) Ethical behaviour is not necessary for insurance agents
c) Ethical behaviour helps in developing trust between the agent and the insurer
d) Ethical behaviour is expected from the top management only
Q 13. Q13) Under IRDA guidelines which of the following policies fall under individual and Experience products
a) Group personal accident
b) Group health
c) Motor fleets
d) All of the above
Q 14. Personal Accident policies are
a) valued policies
b) indemnity policies
c) unvalued policies
d) open policies
Q 15. Which of these future trends does the underwriter not consider while calculating the technical pricing?
a) Legal changes
b) Inflation
c) Claims made during the year
d) Technology