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
91.
A policy that cannot be cancelled by the insurer prior to a certain age is called

a
No-Fault
b
Negligence
c
Non-cancellable
d
None of the Above

92.
A term policy that can be converted to permanent coverage rather than expiring on a specific date is called

a
Convertible
b
Contingent Liability
c
Contractual Liability
d
Contingent Beneficiary

93.
When did insurance begin in Babylon?

a
1750 BC
b
1907 BC
c
1971 BC
d
2000 BC

94.
Insurance service provided by various banks is commonly known as

a
Micro Finance
b
Bancassurance
c
Investment Banking
d
Portfolio Management

95.
When was Life Insurance sector nationalised?

a
1947
b
1951
c
1956
d
1959

96.
A coverage that protects businesses engaged in electronic commerce from losses caused by hackers is termed as

a
Hull Insurance
b
Hacker Insurance
c
Hospital Insurance
d
Identity theft Insurance

97.
What is the Full form of GIVE?

a
Gross Insurer Value Element
b
Gross Insured Value Element
c
Gross Interest Value Element
d
Gross Insurance Value Element

98.
are assumptions about rates of investment earnings, mortality, turnover and distribution or actual ages at which employees are likely to retire.

a
Acts of God
b
Combined Ratio
c
Actual Loss Ratio
d
Actuarial Cost Assumptions

99.
What is the expanded form of the term ALM used in banking sector?

a
Asset Liability Manipulation
b
Asset Liability Maintenance
c
Asset Liability Management
d
Asset Liability Maximisation

100.
Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called

a
Industrial Insurance
b
Personal Insurance
c
Commercial Insurance
d
Automobile Liability Insurance

101.
Insurance coverage for more than one item of property at a single location, or two or more items of property in different locations is known as

a
Blanket Bond
b
Blanket Value
c
Blanket Assign
d
Blanket Coverage

102.
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.

a
Flood Insurance
b
Liability Insurance
c
Industrial Insurance
d
Commercial Insurance

103.
Which of the following types of companies/organisations issue ULIP?

a
RBI
b
Banks
c
Stock brokers
d
Insurance companies

104.
A written form attached to an insurance policy that alters the policy's coverage, terms, or conditions is termed as

a
Exclusion
b
Endorsement
c
Escrow Account
d
Earned Premium

105.
What does the letter 'S' denote in the term IFSC?

a
State
b
Source
c
System
d
Subscriber

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