IC11 - LICENTIATE - Practice Of General Insurance 8
IC11 - LICENTIATE - Practice Of General Insurance 8
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Q 1. Which independent agency's services are used to assess property losses?
Insurance Agents association
TPA's
Claim technician
Actuaries
Surveyor and loss assessor
Q 2. What is the kind of protection under which the cumulative effect on the insurer due to losses under various policies will be ascertained?
Per risk protection
Per premium protection
Per insurance protection
Per event protection
Per damage protection
Q 3. _________ is the minimum and maximum amount of sum assured allowed for Industrial All Risks insurance.
100000 - 10,00,000
10,00,000 - 1,00,00,000
1,00,00,000 - 50,00,00,000
50,00,00,000 - 100,00,00,000
100,00,00,000 and above
Q 4. Which form has to be filled by the proposer for furnishing all material information required by the insurer in respect of risk to enable the insurer to decide whether to accept or decline the insurance proposal?
Inquiry Form
Application form
Registration form
Proposal form
Agreement form
Q 5. How is the fire insurance for residential properties classified?
Simple Risk
Dynamic Risk
Hazardous Risk
Storage Risk
Institutional Risk
Q 6. What is the consignment called which is sent by registered parcel post?
Air consignment
Postal consignment
Land consignment
Speed consignment
Other modes of consignment
Q 7. Under the Motor third-party insurance, the compensation for death claims to a pedestrian is _________.
Rs 5000
Rs 25000
Rs 50000
Rs 100000
Rs 500000
Q 8. Who receives the complaints in respect of repudiation of claims by an insurer?
Agents
Insurance Brokers
Insurance Companies
Judge
Ombudsman
Q 9. Whose functions are identification and acceptance of risk based on factual information, evaluation, and acceptance?
Underwriters
TPAs
Surveyors
Agents
Brokers
Q 10. The maximum validity of a cover note in motor insurance is _____ days
10
20
25
45
60
Q 11. Business risk is a / an ____________ risk.
Catastrophic
Controllable
Non Controllable
Insurable
Non Insurable
Q 12. Speculation risk is also known as __________
Stock Market risk
Insured risk
Trade risk
Business risk
Declined risk
Q 13. On what does the Carriage of Goods by Sea Act determine the liability?
Marine port warehouse receipt
Transporters challan
Airways bill
Bill of Lading
Railway receipt
Q 14. __________ can intervene in the affairs of an insurer.
RBI
Finance Ministry
State Government
Policyholder
IRDAI
Q 15. From the given options, the renewal notice is effected by _________.
payment of penalty
payment of renewal charges
payment of premium
payment of bonus
payment of insurance charges