IC01 PRINCIPLES OF INSURANCE - 30

Que. 1 : Q1) ECGC is owned by

   1.  a) GIC

   2.  b) All private and Public Insurers

   3.  c) Government

   4.  d) All Private and Public General Insurers

Que. 2 : Q2) Which word is dissimilar to the other four options ?

   1.  a) Loss Ratio

   2.  b) Expense Ratio

   3.  c) Solatium Fund

   4.  d) Exclusions

Que. 3 : Q3) Third party motor insurance covers_____________.

   1.  a) Damages caused by hit-and-run driver

   2.  b) Provides protection for embezzlement by employees

   3.  c) The repair cost of a vehicle

   4.  d) All of the above

Que. 4 : Q4) In a town, there are 5000 houses, each valued at Rs. 50,000. It is expected that on an average, 30 houses may catch fire in a year. What will be the premium calculated in the above scenario ?

   1.  a) Rs 300

   2.  b) Rs 500

   3.  c) Rs 750

   4.  d) Rs 860

Que. 5 : Q5) To which insurance is the 'increasing value insurance' related to ?

   1.  a) Endowment Insurance

   2.  b) Marine cargo insurance

   3.  c) Hull insurance

   4.  d) Fire insurance