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Insurance Awareness Quiz 6 (30 MCQs)

Quiz Instructions

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1. A risk transfer mechanism whereby one party assumes the liability of another party by contract is known as .....
2. A form of long-term care policy that covers a policyholder's stay in a nursing facility is called .....
3. If you stop paying the premium, but do not withdraw the money from your policy, then the policy is referred to as .....
4. Auto insurance coverage that pays for each driver's own injuries, regardless of who caused the accident is called .....
5. When did insurance begin in Babylon?
6. A period of up to one month during which the purchaser of an annuity can cancel the contract without penalty is known as .....
7. "With Us, You're Sure" is the tagline of which insurance company?
8. ..... is a coverage up to specific limits for the cost of ransom or extortion payments and related expenses
9. ..... is an actual ownership interest in a specific asset or group of assets.
10. .....is the period between the date of subscription to an insurance-cum-pension policy and the time at which the first instalment of pension is received.
11. ..... is a coverage for flood damage is available from the federal government under the National Flood Insurance Program but is sold by licensed insurance agents.
12. In Insurance, The insured receives a contract, called the.....
13. Which Insurance is a compulsory insurance plan administered by a government agency with the primary emphasis on social adequacy?
14. Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called .....
15. Coverage against loss through stealing by individuals not in a position of trust is called .....
16. "You Focus on Exports. We recover the risks." is the tagline of which insurance company?
17. A Life insurance policy for which the cost is equally distributed over the term of the premium period, remaining constant throughout is called .....
18. A state tax on premiums paid by its residents and businesses and collected by insurers is called.....
19. A provision in an insurance policy that eliminates coverage for certain risks, people, property classes, or locations is called .....
20. The person who receives the proceeds or the benefits under the plan when the nominee is less than 18 years of age is called .....
21. ..... is a coverage for expenses incurred as the result of an identity theft.
22. "We know Healthcare" is the tagline of .....
23. The ratio of losses incurred to premiums earned; anticipated when rates are first formulated is termed as.....
24. ..... is an insurance purchased by a bank or creditor on an uninsured debtor's behalf so if the property is damaged, funding is available to repair it.
25. Which of the following Public Sector companies provides insurance cover to exporters?
26. Which of the following is the regulator of insurance sector in India?
27. A survey to determine a property's insurable value, or the amount of a loss is termed as .....
28. The headquarters of National Insurance Company Ltd (NIC) is located in
29. The government has allowed issue of Long-Term Bonds for Insurance Companies and others upto
30. A company owned by its policyholders that returns part of its profits to the policyholders as dividends is known as .....
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