Q-11- NAIS stands for
- National Agro Insurance Scheme
- National Accident Insurance Scheme
- National Agricultural Insurance Scheme
- National Authority for Insurance Schemes
Option-3 NAIS stands for National Agricultural Insurance Scheme
Q-12- Which of the following covers is dissimilar to the other four options?
- Loss of Profits
- Loss of Passport
- Loss of checked in baggage
- Delay in receiving checked in baggage
- Cancellation/ Re-routing of scheduled fight
Option-1 Loss of Profit is not matching with this group. Rest all other is used under Travel Insurance policy.
Q-13- _________of India offers a range of credit risk insurance covers to exporters against loss in export of goods and services.
- RBI
- LIC
- NAIS
- ECGC
Option-4 Export Credit and Guarantee Insurance Corporation(ECGC) offers a range of Credit risk Insurance to exporters.
Q-14- Which of the following terms matches closest with ‘Asbestos’?
- Pensions
- Products
- Rough Weather
- Long Term Policies
- Workmen’s Compensation
Option-5 The Environmental Protection Agency (EPA) has banned or severely restricted its use in manufacturing and construction. Liability arising out of asbestos-related injuries is commonly excluded from coverage in umbrella policies and in some general liability policies.
Q-15- All of the following are financial risks that may be faced by business organizations EXCEPT
- interest rate risk.
- commodity price risk.
- product liability risk.
- currency exchange rate risk.
Option-3 Product Liability risks are not in nature of Financial risks.
Q-16- Regarding ‘Exclusions’ find out the incorrect statement.
- Exclusions are indicated in the policy
- All the above statements are incorrect
- Exclusions do not deal with risk coverage
- Exclusions limit the coverage under the policy
- Exclusions are perils or circumstances not covered
Option-3 Exclusions deal with risk coverage.
Q-17- All of the following are social costs associated with insurance EXCEPT
- inflated claims
- fraudulent claims
- increased cost of capital
- the expense of doing business
Option-3 Increased cost of Capital
Q-18- Which of the following statements is incorrect in respect of Brokers?
- Brokers should be registered as a companies or firm
- Brokers have to pass examinations before being licensed
- Brokers require to undergo training before being licensed
- Brokers are appointed by insured to take care of their interests
- Brokers are allowed to negotiate with different insurers for the same insured
Option-1 It is not mandatory for Brokers to be registered as a company or firm.
Q-19- Gross premium means Net premium plus _________
- Profit
- Loss
- Expense
- Expense loading
Option-4 Gross premium means Net Premium plus Expense loading.
Q-20- Intimation of Death is the information of death to the ______
- Insurer
- Beneficiary
- Both (a) and (b)
- None
Option-1 Intiation of Death is the information to the Insurer.