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Insurance Awareness Quiz 6 (20 MCQs)

Quiz Instructions

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1. Coverage for losses incurred as a result of the failure of an insured object on the insured's premises is referred as .....
2. When was Triton Insurance Company Ltd established?
3. Which one of the following is the special drawing rights given by the International Monetary Fund to its member countries?
4. ..... refers to the insurance company that offers the policy.
5. ..... is a policy contract that for some reason specified in the policy becomes free of all legal effect.
6. To use life insurance policy benefits as collateral for a loan is called .....
7. A single insurance policy that combines several coverages previously sold separately is termed as .....
8. The period during which the owner of a deferred annuity makes payments to build up assets is called .....
9. The reinsurance bought by re-insurers to protect their financial stability is termed as .....
10. An individual who may become eligible to receive payment due to will, life insurance policy, retirement plan, annuity, trust, or other contract is known as .....
11. ..... is a type of reinsurance in which the re-insurer can accept or reject any risk presented by an insurance company seeking reinsurance.
12. A document given to an applicant for life insurance stating that the company's acceptance is contingent upon determination of the applicant's insurability is known as .....
13. Selling insurance through groups is called .....
14. Perils that cannot reasonably be guarded against, such as floods and earthquakes is known as .....
15. Insurance Act.....
16. A form of annuity that ends payments when the annuitant dies is termed as .....
17. Which of the following insurance companies gives the slogan Prithvi, Agni, Jal, Akash - Sab ki Surakhsa Hamare Paas?
18. A person who holds something in trust for another is known as.....
19. An amount of premium for which payment has been made by the policyholder but coverage has not yet been provided is known as .....
20. Once an insurance company has paid up to the limit, it will pay no more during that year is known as .....
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