Insurance Awareness mcq questions and answers for competitive exams

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Insurance Awareness mcq questions and answers for competitive exams UPSC SSC , SSC CGL, SSC CHSL, upsc Civils , Entrance exams Online test practice online free Quiz, mock practice online
46.
is a coverage that guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults.

a
Gap Insurance
b
Municipal Bond Insurance
c
Kidnap/Ransom Insurance
d
Internet Liability Insurance

47.
A policy that combines protection against premature death with a savings account that can be invested in stocks, bonds, and money market mutual funds at the policyholder's discretion is called

a
Variable Life Insurance
b
Inland Marine Insurance
c
Kidnap/Ransom Insurance
d
Uninsured Motorist Coverage

48.
With which of the following did the State Bank of India enter into a joint venture agreement for undertaking Life insurance business?

a
Allianz
b
BNP Paribas Cardif.
c
Insurance Australia Group
d
Lehman Brothers Holdings Inc.

49.
A form of reinsurance that indemnifies the ceding company for the accumulation of losses in excess of a stipulated sum arising from a single catastrophic event or series of events is termed as

a
Treaty Reinsurance
b
Facultative Reinsurance
c
Catastrophe Reinsurance
d
Excess of Loss Reinsurance

50.
A form of life insurance coverage payable to a third party lender/mortgagee upon the death of the insured/mortgagor for loss of loan payments is termed as

a
Hospital Insurance
b
Mortgage Insurance
c
Multi-Peril Insurance
d
Renewable Term Insurance

51.
is a coverage designed to protect businesses from liabilities that arise from the conducting of business over the Internet, including copyright infringement, defamation, and violation of priv

a
Gap Insurance
b
Inflation Guard Clause
c
Inland Marine Insurance
d
Internet Liability Insurance

52.
A life annuity in which there is no refund to any beneficiary at the death of the annuitant is termed as

a
Straight Life
b
Subrogation
c
Subjective Risk
d
Straight Life Annuity

53.
A Life insurance policy for which the cost is equally distributed over the term of the premium period, remaining constant throughout is called

a
Incontestability Provision
b
Level Premium Insurance
c
Hold-Harmless Agreement
d
Limited Payment Life Insurance

54.
is the age at which the receipt of pension starts in an insurance-cum-pension plan.

a
Vesting age
b
Maturity age
c
Starting age
d
Surrender age

55.
The portion of an insurance premium that reflects the basic costs of loss, not including over-head or profit is called

a
Pure Premium
b
Mixed Premium
c
Impure Premium
d
None of the Above

56.
Which bank recently became the first bank in India to fully own an insurance business?

a
IDBI Bank
b
ICICI Bank
c
Canara Bank
d
Kotak Mahindra Bank

57.
The person in whose name the insurance policy is made is referred to as

a
Agent
b
Insurer
c
Insured or Policyholder
d
Nominee or Beneficiary

58.
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

a
Conditional Receipt
b
Consequential loss
c
Conditional Contract
d
Conditional Renewable

59.
Reinsurance placed with a company not authorized in the reporting company's state of domicile is called

a
Underwriter
b
Underwriting Risk
c
Universal Life Insurance
d
Unauthorized Reinsurance

60.
The amount of risk retained by an insurance company that is not reinsured is termed as

a
Retention
b
Retrocession
c
Pure Life Annuity
d
None of the Above

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