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


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