IC78 MISCELLANEOUS INSURANCE EXAM - 03
| Q1.___ policy was specifically designed to cater to the needs of the economically weaker section of the society. |
| Student Safety Insurance |
| Janta personal accident insurance |
| Traffic accident policy |
| Janta economic accident insurance |
| Rasta Aapathi Kavach |
| Q2.Identify the true statement with respect to insurance of zoo animals - |
| Sum insured is based on a valuation done by curator and health certificate by the veterinary doctor |
| Sum insured is based on a valuation done by curator only |
| Sum insured is based on a valuation done by the veterinary doctor only |
| Sum insured is based on a valuation done by the zoo authorities |
| Zoo animals cannot be insured |
| Q3.Nowadays, the ____ is the most common form of treaty reinsurance. |
| Quota share treaty method |
| Pool basis of reinsurance |
| Surplus basis reinsurance |
| Stop-loss reinsurance |
| Excess of loss reinsurance |
| Q4.The purpose of inspection of risk by surveyors before acceptance of risk in burglary insurance is - 1. To provide the underwriter with a visual picture of the risk so that it can be properly rated and special conditions imposed, if necessary 2. To suggest means for improvement of risk 3. To highlight any shortcomings in security/safety features |
| Only 2 |
| 1 and 2 |
| 2 and 3 |
| 1 and 3 |
| All 1, 2 and 3 |
| Q5.Which of these is/are NOT covered under Domiciliary Hospitalisation benefits? 1. Expenses incurred for treatment of Hypertension 2. Expenses incurred for treatment of Bronchitis / Asthma 3. An expense incurred for pre and post-hospital treatment |
| Only 3 |
| 1 and 2 |
| 1 and 3 |
| 2 and 3 |
| All 1, 2 and 3 |
| Q6.Analyze the meaning of - 'Kidnap and Ransom insurance policies are indemnity policies’ 1. K&R policies reimburse a loss incurred by the insured 2. K&R policies pay ransoms on the behalf of the insured 3. The insured must first pay the ransom, thus incurring the loss, and then seek reimbursement under the K&R policy. |
| 1 and 2 |
| 1 and 3 |
| All 1,2 and 3 |
| Only 2 |
| Only 3 |
| Q7.In sports insurance, what can be the maximum age of the insured? |
| 40 years |
| 50 years |
| 60 years |
| 70 years |
| 80 years |
| Q8. Analyze the meaning of - 'Kidnap and Ransom insurance policies are indemnity policies’ 1. K&R policies reimburse a loss incurred by the insured 2. K&R policies pay ransoms on the behalf of the insured 3. The insured must first pay the ransom, thus incurring the loss, and then seek reimbursement under the K&R policy. |
| 1 and 2 |
| 1 and 3 |
| All 1,2 and 3 |
| Only 2 |
| Only 3 |
| Q9.What does Incurred Claim mean or how is it calculated? |
| Incurred claims mean claims paid amount minus claims outstanding at the end of the period minus claim outstanding at the beginning of the period with respect to the entire group insured under the policy during the relevant period |
| Incurred claims mean claims paid amount plus claims outstanding at the end of the period minus claim outstanding at the beginning of the period with respect to the entire group insured under the policy during the relevant period |
| Incurred claims mean claims paid amount plus claims outstanding at the end of the period plus claim outstanding at the beginning of the period with respect to the entire group insured under the policy during the relevant period |
| Incurred claims mean claims paid amount minus claims outstanding at the end of the period plus claim outstanding at the beginning of the period with respect to the entire group insured under the policy during the relevant period |
| Incurred claims mean claims paid amount minus claims outstanding at the end of the period with respect to the entire group insured under the policy during the relevant period |
| Q10.___ covers for damage to the pedal cycle resulting from fire, explosion, lightning, riots, etc. |
| Two-wheeler insurance |
| Pedal cycle insurance |
| Plate glass insurance |
| Motor insurance |
| Sports insurance |