Q-1- Arrangement where Banks tie up with Insurance companies to sell Insurance is called _________
- merger
- franchising
- bancassurance
- 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.
- TPA’s
- brokers
- surveyors
- 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.
- banks
- brokers
- surveyors
- 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
- Policy loan
- Policy term
- Policy mode
- 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
- Internal Association of Insurance Supervisors
- International Academy of Insurance Supervisors
- International Association of Insurance Surveyors
- 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
- regulators
- organisation
- intermediaries
- management
Option-3 All are known as intermediaries in Insurance sector.
Q-7- The Indian insurance industry is governed by
- Insurance Act-1978
- Life Insurance Corporation Act,1956
- General Insurance Business (Nationalisation)Act.1972
- Insurance Regulatory and Development Authority Act,1999
- All of above
Option-5 Indian Insurance Industry is governed by all of these acts and legislations.
Q-8- Insurance provides security against_________
- Risk
- Losses
- Both (a) & (b)
- 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.
- Insured
- Assured
- Insurer
- 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
- Avg. premium
- Gross premium
- Partial premium
- All of these
Option-2 Gross Premium is known as policy premium.