Q-11- A contract of insurance is an agreement of
- Contingent
- Constant
- both
- None of these
Option-1 A contract of Insurance is a contingent contract of agreement.
Q-12- The Bombay Mutual Assurance Society Ltd. formed in
- 1870
- 1970
- 1960
- 1865
Option-1 The Bombay Mutual Assurance Society formed in 1870.
Q-13- On which theory risk is evaluated?
- Variability
- Probability
- Contingency
- All
Option-2 Risk is evaluated on the basis of theory of Probability.
Q-14- Which is not a type of risk?
- Quantitative
- Fundamental
- Dynamic risks
- Speculative risks
Option-1 Quantitative
Q-15- Insurable interest means ________ interest
- Social
- Individual
- Monetary
- All of these
Option-3 Insurable interest means Monetary interest in subject matter insured.
Q-16- Which of the following insurance contract is not based on the principle of indemnity.
- Fire insurance
- Life insurance
- Marine insurance
- All
Option-2 Life insurance contract is not based on the principal of indemnity.
Q-17- Human life is the subject matter of a contract of ______________
- Life assurance
- Fire insurance
- Marine insurance
- General insurance
Option-1 Human life is the subject matter of a contract of Life assurance.
Q-18- Motor Insurance policies provides insurance cover to
- Private vehicles
- Commercial vehicles
- Motorcycles
- All of these
Option-4 All of these
Q-19- Employee’s State Insurance Corporation was established in
- 1968
- 1958
- 1948
- 1988
Option-3 1948
Q-20- In Insurance, the risk is
- Certain
- Uncertain
- Both (a) & (b)
- None
Option-2 In Insurance the risk is ‘Uncertain’
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