Insurance MCQ Daily-23

Insurance MCQ daily proved very useful to all Insurance aspirants or insurance savvy who regularly seek insurance knowledge.   

These 20 Insurance MCQ’s covers General and Life Insurance insurance questions in detail.

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Q-1- DIC Insurance means?

  1. Difference In Clauses
  2. Difference In Conditions
  3. Double Insurance Clauses
  4. Double Insurance Coverage

Option 2 DIC insurance refers to Difference in conditions Insurance

Q-2- DIC Policies are bought primarily by firms with having a significant expoure of ________ and earthquake.

  1. Fire
  2. Flood
  3. Marine
  4. Aviation

Option-3 Firms having significant exposure of flood and arthquake exposure, are bought DIC policies.

Q-3- The expanded form of NFIP is

  1. National Fire Insurance Program
  2. National Flood Insurance Program
  3. National Fire Implementation Program
  4. National Food Implementation Program

Option-2 NFIP refers to National Flood Insurance Program.

Q-4- DIC policy use to write cover __________ the basic cover.

  1. below
  2. at par
  3. in excess
  4. none of above

Option-3 DIC policy use to write cover in excess the basic cover.

Q-5- DIC policy also cover other exposure like assets in transit or business Interruption. Is it TRUE or FALSE?

  1. True
  2. False
  3. Can’t say

Option-1 Given statement is TRUE.

Q-6- In 2002, the CIA first used a Predator Drone to kill enemy combatant in_________

  1. Rome
  2. China
  3. Taliban
  4. Afghanistan

Option-4 In 2002, the CIA first used a Predator Drone to kill enemy combatant in Afghanistan.

Q-7- Fixed wing aircrafts can hover in one spot. Is this statement is TRUE or FALSE

  1. True
  2. False
  3. True, but only for short duration
  4. Can’t say

Option-2 FALSE.Fixed wing aircrafts can not hover in one spot.That’s the reason they can’t use for any general aerial photography work.

Q-8- DIC policy bought by Project owner of contractor is called as

  1. Project DIC policy
  2. Builder Risk DIC policy
  3. Contractor’s DIC policy
  4. Construction DIC policy

Option-2 DIC policy bought by Project owner of contractor is called as Builder Risk DIC policy.

Q-9- In most states DIC insurance is a ________ class of inland Marine insurance.

  1. filed
  2. non filed
  3. umbrella
  4. Class action

Option-2 DIC insurance is a non-filed class of marine insurance, which makes it more competitive in terms of rates settling and drafting policy language.

Q-10- DIC policies ordinarily do not contain a _________ provision.

  1. Copay
  2. Coinsurance
  3. excess clause
  4. Agreed bank clause

Option-2 DIC policies usually do not contain a coinsurance provision

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