Insurance MCQ Daily-14

Q-11- The expanded of UHIS is

  1. Universal Health Insurance System
  2. Universal Health Insurance Scheme
  3. Universal Health Insurance Scenario
  4. Universal Health Insurance Solutions

Option-2 UHIS stands for Universal Health Insurance Scheme

Q-12- When did insurance begin in Babylon?

  1. 1971 BC
  2. 1750 BC
  3. 1907 BC
  4. 2000 BC

Option-1 Insurance began in Babylon in 1971 BC

Q-13- In Life Insurance, the Sum of the amount to be paid to beneficiaries at the time of death of Insured’s death is called

  1. Face Value
  2. Sum Insured
  3. Face Amount
  4. None of these

Option-1 Face value is the amount of money your beneficiaries will receive from your insurance company at the time of insured’s death.

Q-14- A coverage that protects businesses engaged in electronic commerce from losses caused by hackers is called

  1. Hacker Insurance
  2. Hacker Protection
  3. Social Engineering
  4. Identity theft Insurance

Option-1 Hacker Insurance is a coverage that protects businesses engaged in electronic commerce from losses caused by hackers.

Q-15- A single policy which covers a group of individuals of a named group,organization usually employees of the same company or members of the same association and their dependants is called _____________

  1. Health Insurance
  2. Group Insurance
  3. Association Insurance
  4. Personal group Insurance

Option-2 Group Insurance is a plan for cover same company/association and their dependents.

Q-16- A seller’s market in which insurance is expensive and in short supply is termed as

  1. Soft Market
  2. Hard Market
  3. Alternative Market
  4. None of the Above

Option-3 Alternative Market,a term which is commonly used in risk financing to refer to one of a number of risk funding techniques is known as Alternative Market.

Q-17- A market where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called ________

  1. Soft Market
  2. Hard Market
  3. Alternative Market
  4. None of the Above

Option-1 Soft Market

Q-18- __________ is a fixed amount for a covered service, paid by a patient to the insurance company before patient receives service from physician.

  1. Deductible
  2. Coinsurance
  3. Copay/Copayment
  4. All of these

Option-3 A Copay/Copayment is a fixed amount for a covered service, paid by a patient to the insurance company before patient receives service from physician.

Q-19- Deductible mentioned in which currency?

  1. US Dollar
  2. UK Pound
  3. Indian Rupee
  4. Any of currency

Option-4 Deductible could be mentioned in any currency in which country the policy operates.

Q-20- The transit risks caused by fire is covered under ________.

  1. Excess policy
  2. Floating policy
  3. All risk policy
  4. Transit policy

Option-4 All fire risks during transit will be covered under Transit Policy.

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