IC01 (LICENTIATE) Principles of Insurance - 04

Aug 9, 2021 - 06:29
Sep 14, 2022 - 10:42
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Q1.What is the foundation of good governance?
 Having little concern for others
High concern for self
Ethical behavior
 Being honest
 All of the above
 
Q2.Amendments to standard policy conditions are called ____.
 Conditions
 Endorsements
 Exclusions
 Warranties
 Changes
 
Q3.Mr. Chetan has taken a common health insurance policy for himself and his spouse. Which type of policy is this?
 Group Policy
 Joint Policy
 Family Floater Policy
 Any of the above
 None of the above
 
Q4.Political upheaval or government suddenly losing voting of confidence will be classified as which type of risk?
 Static risk
 Dynamic risk
 Particular risk
 Non Financial risk
 Financial risk
 
Q5.One of the eligibility criteria for a TPA is that ____.
at least one of the directors should be a medical practitioner
 at least two of the directors should be a medical practitioner
 at least three of the directors should be a medical practitioner
No need for any of the directors be a medical practitioner
 None of the above
 
Q6.What is the objective of the Tariff Advisory Committee (TAC)?
 Issue regulations for guidelines on investment
 Controlling and regulating the rates
Regulating rates especially for Non-life insurance
 All of the above
 None of the above
 
Q7.MPL and PML are used in ___ .
Hedging
 Speculation
 Human Resource Management
 Risk Management
 Spread Management
 
Q8._____ risk can often lead to bankruptcy.
 Financial
 Insurable
Non-Insurable
 Catastrophic
 Speculative
 
Q9.___ are economic resources
 Capital
 Assets
 Liabilities
 All of the above
 None of the above
 
Q10.Miscellaneous insurance deals with ___.
 Transit risk
 Motor, Engineering, Burglary.
 Damage due to Riots, Act of God.
 All of the above
 None of the above

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