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Insurance Awareness Quiz 8 (30 MCQs)

Quiz Instructions

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1. Which term referring to property coverages for the perils of burglary, theft and robbery?
2. The portion of risk that a reinsurance company cedes or amount of insurance the company chooses not to retain is called .....
3. ..... is the insurance of commercial property that protects the property from such perils as fire, theft and natural disaster.
4. Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as .....
5. ..... is a form of non-proportional reinsurance.
6. Which is used to determine the actual cash value of property at time of loss?
7. ..... is the liability arising from contractual agreements in which it is stated that some losses, if they occur, are to be borne by specific parties.
8. The New India Assurance Company was established in 1919 by
9. A property or liability insurance contract in which all risks of loss are covered is called .....
10. Which of the following is largest Non Life Insurance Company in India?
11. A policy that cannot be cancelled by the insurer prior to a certain age is called .....
12. Percentage of each premium rupee that goes to insurers' expenses including overhead, marketing, and commissions is called.....
13. Which one of the following does not belong to the main products of life insurance?
14. The consequential property insurance that covers the extra expense incurred by the interruption of a business is called .....
15. An agreement between an insurance company and an agent, granting the agent authority to write insurance from that company is called .....
16. Contingencies outlined in an insurance policy is called .....
17. Legal responsibility of a fiduciary to safeguard assets of beneficiaries is termed as.....
18. Which of the following is not a public sector bank in India?
19. The result of the policyholder's failure to buy sufficient insurance is termed as .....
20. When was the General Insurance Corporation of India incorporated?
21. A whole life policy in which premiums are payable as long as the insured lives is called .....
22. When was Life Insurance sector nationalised?
23. Which principle specifies an insured should not collect more than the actual cash value of a loss?
24. A professional liability coverage for physicians, lawyers, and other specialists against suits alleging negligence or errors and omissions that have harmed clients is termed as .....
25. "Sampann Bharath ki pehchan,Beemith Phasal Khusal Kisan" is the tagline of which insurance company?
26. A section of the risk-based capital formula calculating requirements for reserves and premiums is termed as .....
27. In Insurance, CGL stands for.....
28. .....covers professionals for negligence and errors or omissions that injure their clients.
29. The Payment to the policyholder at the end of the stipulated term of the policy is called .....
30. Anmol Jeevan is a .....of the LIC.
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