IC11 - LICENTIATE - Practice Of General Insurance 48

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Q 1. The minimum qualification required for an insurance agent is _______ pass.

a) Graduate

b) 10th

c) Post-Graduate

d) 7th

Q 2. The TAC in India is mainly concerned with the

a) regulating of rates

b) issuance of policies

c) investments of the funds

d) licensing of the agents

Q 3. Which of the following covers is dissimilar to the other four options?

a) Loss of Passport

b) Loss of Profits

c) Loss of checked-in baggage

d) Delay in receiving checked-in baggage

Q 4. Which policy is issued to business premises covering stock in trade, goods held in trust or on Commission, and cash in a locked safe?

a) Bhavishya Arogya policy

b) Mediclaim insurance policy

c) Liability-only policy

d) Burglary insurance policy

Q 5. Under inland transit (Rail/Road) (C), the insurance ceases

a) After 3 days of the arrival of the wagon at the destination railway station

b) After 7 days of the arrival of the wagon at the destination railway station

c) After 15 days of the arrival of the wagon at the destination railway station

d) On unloading of each package

Q 6. A __________ requires an insured to do or not to do certain things and is often linked to a specific trade.

a) Exclusion

b) Warranty

c) Legal Document

d) Deductible

Q 7. Which of the following is not covered under Industrial All Risks insurance?

a) Fire and special perils as per fire insurance practice

b) Larceny

c) Machinery breakdown

d) Electronic equipment

Q 8. Under the Motor Vehicles Act, the amount of compensation for death based on no-fault liability is Rs _______

a) Rs. 25,000/-

b) Rs.50,000/-

c) Rs.1,00,000/-

d) Rs. 2,00,000/-

Q 9. Which of the following diseases is excluded under domiciliary Hospitalization benefit?

a) Cough

b) Dysentery

c) Flu

d) All of the above

Q 10. Who is at present the sole authority of the Reinsurance business in India?

a) National Assurance Company Limited

b) The New India Assurance Co. Ltd.

c) General Insurance Corporation of India (GIC)

d) All of the above

Q 11. Which of the following documents are required to process a motor insurance claim?

a) Registration Certificate Book

b) Police Report

c) Driving Licence

d) All of the above

Q 12. As per the General Insurance Business Amendment Act 2002, the General Insurance Corporation of India shall carry on

a) Reinsurance business only

b) Overseas reinsurance business only

c) Administration of motor third-party insurance pool only

d) Aviation insurance business only

Q 13. Q13) The Operative clause is also known by which other name?

a) Insuring Clause

b) Preamble

c) Signature Clause

d) Policy Condition

Q 14. The fire insurance policy in India does not provide for compensation for losses arising out of

a) Theft

b) aircraft damage

c) implosion or explosion

d) lightning

Q 15. Personal Accident policies are

a) valued policies

b) indemnity policies

c) unvalued policies

d) open policies


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