Question QuestionText Option1 Option2 Option3 Option4 CorrectOption

Risk transfer through risk pooling is called

1 (a) Savings (b) Investments (c) Insurance (d) Transfer [c]
_____________.

(d) To find out

(b) To find out how
(c) To find out whether whether
Before acceptance of a risk, the insurer arranges a (a) To assess the risk the insured
2 other insurers have also neighbouring [a]
survey and inspection of the property. Why? for rating purposes purchased the
inspected the property property also can
property
be insured

(c) Probability and

3 Cost of risk is determined by ________________. (a) Probability only (b) Impact only (d) Timing of risk [c]
impact
_______________ is not an indicator of service (d) Responsiveness
4 (a) Cleverness (b) Reliability (c) Empathy [a]
quality.

(d) By being on
time, showing
In customer relationship the first impression is (a) By being confident (b) By being on
5 (c) By showing interest interest and being [d]
created: time
confident

Which of the below will be the most appropriate

(c) Insurance
6 option for a customer to lodge an insurance policy (a) Police (b) Supreme court (d) District court [c]
ombudsman
related complaint?

(b) No fee or (c) 20% of the relief (d) 10% of the

Are there any fee/ charges that need to be paid for (a) A fee of Rs.100
7 charges need to be sought must be paid as relief sought must [b]
lodging the complaint with the Ombudsman? needs to be paid
paid fee be paid as free [b]

The ___________ has jurisdiction to entertain matters

(d) National
8 where value of goods or services and the (a) High Court (b) District Forum (c) State Commission [b]
Commission
compensation claim is up to 20 lakhs

(a) Lying about (b) Not revealing

(c) Disclosing known
known medical known material
Which of the below action showcases the principle of material facts on an (d) Paying
9 conditions on an facts on an [c]
“Uberrima Fides”? insurance proposal premium on time
insurance proposal insurance proposal
form
form form

Find out the proximate cause for death in the

following scenario? Ajay falls off a horse and breaks his
10 back. He lies there in a pool of water and contracts (a) Pneumonia (b) Broken back (c) Falling off a horse (d) Surgery [c]
pneumonia. He is admitted to the hospital and dies
because of pneumonia.

Which of the following is not the correct reason? (a) to decide about (b) to fix the rate (c) to fix the sum (d) to fix terms and
11 [c)
Insurer requires material information acceptance of premium insured conditions of cover

(b) It ensures that

(c) It ensures that
all the insured who
multiple insurers
are a part of the (d) It ensures that
(a) It ensures that the covering the same
pool, contribute to the premium is
insured also subject matter; come
What is the significance of the principle of the claim made by contributed by the
12 contributes a certain together and contribute [c]
contribution? a participant of the insured in equal
portion of the claim the claim amount in
pool, in the instalments over
along with the insurer proportion to their
proportion of the the year.
exposure to the subject
premium paid by
matter
them

_________ is the maximum limit of liability of insurer

13 (a) Sum insured (b) Premium (c) Surrender value (d) Amount of loss [a]
under the policy
_______ is the consideration or price paid by insured (b) Surrender
14 (a) Claim amount (c) Maturity amount (d) Premium [d]
under a contract. value

(d) Is not important

(a) Is the value of all (b) Not important (c) Is important as it
as it has no bearing
15 Material fact: material covered in a for assessing the influences the decision [c]
on the decision of
policy risk of the underwriter
the underwriter

The principal officer and specified person before

16 seeking a renewal of registration shall have practical (a) 25 hrs (b) 30 hrs (c) 40 hrs (d) 50 hrs [a]
training for:

(b) Professional
Suggest an insurance scheme for a doctor to protect (a) Personal accident (c) Marine hull (d) Health
17 Indemnity [b]
him from any claims of negligence against him. insurance insurance insurance
Insurance
Question QuestionText Option1 Option2 Option3 Option4 CorrectOption

(c) General Insurance (d) Motor Accident

18 The administrator of motor third party insurance is: (a) IRDAI (b) GIC [a]
Council Claims Tribunal

As per IRDAI guidelines, a ________ grace period is

19 (a) Fifteen days (b) Thirty days (c) Forty Five days (d) Sixty days [b]
allowed for renewal of individual health policies.

The first and the primary source of information about

(a) Age proof (b) Financial (c) Previous medical
20 an applicant, for the underwriter is his (d) Proposal form [d]
documents documents records
________________.

(a) Legal and Financial (c) Each insurer’s share (d) The amount of
(b) The asset
interest of the person of loss when more than the loss that can be
21 Insurable interest refers to ____________. which is already [a]
in the asset to be one company covers recovered from the
insured
insured the same loss insurer

(b) Number of days (c) Countries to be

22 For Travel insurance the sum insured depends on: (a) Age (d) All the above [d]
of trip visited

The insurance under Overseas Medical Policy does not

operate beyond a period of ___________ days
23 (a) 60 days (b) 90 days (c) 120 days (d) 180 days [d]
continuous absence (unless specifically agreed by
insurers).

(a) Door to door (d) Marketing the

Which of the following is the biggest advertisement for (b) Settling claims (c) Obtaining high
24 counselling for features of the [b]
an insurance company? professionally profile customers
insurance policy

(b) employees
Which policy is used by an employer to insure himself (c) fidelity guarantee (d) public liability
25 (a) declaration policy compensation [c]
from dishonest act of his employees? insurance policy insurance policy
policy
(a) property (b) aviation (d) money
26 Which policy covers loss or damage to aircraft? (c) statutory liability [b]
insurance insurance insurance
Which of the following is not covered by Fire Insurance (b) bombing due to
27 (a) Fire (c) floods (d) earthquake [b]
Policy even as add-on cover? war
For which of the following claims is the insured
(d) Personal
28 required to submit a report from the attending doctor (a) Fire (b) Motor (c) Marine [d]
Accident
specifying the duration of disablement.
29 Who is the regulator of Banks in India (a) Government (b) RBI (c) SBI (d) SEBI [b]
Which of the following is the claim, wherein the
(a) Non standard (b) Non-specific
30 insured has committed a breach of condition or (c) Standard claim (d) Specific claim [a]
claim claim
warranty?