Q-11- Risk Management process includes ___________
- Risk Control
- Risk Analysis
- Risk Reduction
- Risk Analysis and Control
Option-3 Risk Management process includes Risk Analysis and Control.
Q-12- In India Bancassurance started in _______
- 2000
- 2001
- 2002
- 2003
Option-3 In India Bancassurance started in 2002.
Q-13- Pure Risk is group of ______
- Liability risk
- Property Risk
- Personal Risk
- All the above
Option-4 Pure risk is group of all above risks.
Q-14- The risk which has the outcomes with probability of gain is called as
- Pure
- Static
- Dynamic
- Speculative
Option-4 Speculative risk have probability of Gain or lose.
Q-15- Risk retention means ________
- Insuring the risk
- Saving money to pay for the losses
- Not taking up any activity which is risky
- Accepting and agreeing to sustain financial loss itself
Option-4 Risk retention means Accepting and agreeing to sustain financial loss itself.
Q-16- Which of the following is the last step in the risk management process?
- Review
- Insurance
- Risk evaluation
- Loss prevention
Option-2
Q-17- The first step in risk management process is __________
- Insurance
- Risk evaluation
- Risk avoidance
- Risk identification
Option-4Risk identification is the first step in the risk management process.
Q-18- Insurance contract is a type of contract which is approved by _______
- Indian Factory Act
- Indian Companies Act
- The Indian finance Act
- The Indian Contract Act
Option-4 The Indian Contract Act
Q-19- A person employed to do any act for another or to represent another in dealing with a third person refers as _________
- Agent
- Principal
- Employee
- Development Officer
Option-1 Agent
Q-20- ___________ are those terms, which are implied in every contract of Marine insurance unless they are expressly excluded.
- Guarantee
- Waiver Clause
- Express Warranties
- Implied Warranties
Option-4 Implied Warranties are those terms, which are implied in every contract of Marine insurance unless they are expressly excluded.
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