IC01 PRINCIPLES OF INSURANCE - 08

Que. 1 : Q1) The process of applying for Insurance is called

   1.  a) Application

   2.  b) Consideration

   3.  c) Endorsement

   4.  d) Proposal

Que. 2 : Q2) Which of the following statements is False?

   1.  a) Proposal Form is must for Insurance Contract

   2.  b) Life Fund of Life Insurance is invested largely in Government Bonds

   3.  c) Policy Holder can cancel the policy with in 15 days from the date of receipt of the policy document as per IRDA Regulation

   4.  d) Prior to IRDA therewas no security for Policy Holder

Que. 3 : Q3) In Reinsurance the claim burden is shared by

   1.  a) Primary Insurer

   2.  b) Reinsurer

   3.  c) Both of the above

   4.  d) None of the above

Que. 4 : Q4) What makes customers happy?

   1.  a) When they feel cared for

   2.  b) When someone tells them what they want

   3.  c) When their views and feelings are ignored

   4.  d) Not attending them

Que. 5 : Q5) Which of the Following constitutes Material Facts in Life Insurance?

   1.  a) Medical History

   2.  b) Family History

   3.  c) Absence from Work

   4.  d) All of the above