Insurance MCQ Daily-11

Q-1- Arrangement where Banks tie up with Insurance companies to sell Insurance is called _________

  1. merger
  2. franchising
  3. bancassurance
  4. insurance linked banking

Option-3Bancasssurance is an arrangement where Insurance companies sell insurance through Banks.

Q-2- _______ are the middlemen in the Healthcare services delivery chain.

  1. TPA’s
  2. brokers
  3. surveyors
  4. loss assessors

Option-1 TPA’s are the middlemen in the healthcare services delivery chain.

Q-3- Who can sell policies of several life and non-life insurance companies at a time.

  1. banks
  2. brokers
  3. surveyors
  4. loss assessors

Option-2 Brokers can sell policies of life or non-life insurance companies at same time.

Q-4- The period for which an insurance policy provides coverage is known
as

  1. Policy loan
  2. Policy term
  3. Policy mode
  4. None

Option-2 The period for which an insurance policy provides coverage is known as Policy term or Policy Period.

Q-5- IAIS stands for

  1. Internal Association of Insurance Supervisors
  2. International Academy of Insurance Supervisors
  3. International Association of Insurance Surveyors
  4. International Association of Insurance Supervisors

Option-1 IAIS stands for Internal Association of Insurance Supervisors

Q-6- The agents, surveyors,loss assessors, brokers, third party administrators and banks are an examples of

  1. regulators
  2. organisation
  3. intermediaries
  4. management

Option-3 All are known as intermediaries in Insurance sector.

Q-7- The Indian insurance industry is governed by

  1. Insurance Act-1978
  2. Life Insurance Corporation Act,1956
  3. General Insurance Business (Nationalisation)Act.1972
  4. Insurance Regulatory and Development Authority Act,1999
  5. All of above

Option-5 Indian Insurance Industry is governed by all of these acts and legislations.

Q-8- Insurance provides security against_________

  1. Risk
  2. Losses
  3. Both (a) & (b)
  4. None of them

Option-3 Insurance provides securities against Risk losses.

Q-9- ________is the party who agree to compensate other party against all possible losses.

  1. Insured
  2. Assured
  3. Insurer
  4. none of these.

Option-3 Insurer is the party who agreed to compensate to Insured against all possible losses.

Q-10- Premium, which a policyholder pay towards any policy is known as

  1. Avg. premium
  2. Gross premium
  3. Partial premium
  4. All of these

Option-2 Gross Premium is known as policy premium.

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