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These 20 Insurance GK MCQs are all about Life and about the general insurance sector.
Questions related to ties ups of Insurance companies with Banks for selling Insurance products, GK on IRDAI, and FDI update on Insurance and insurance intermediaries.
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Q-1- Risks can be identified, measured, ___________ and financed.
Option 4 Risks can be identified, measured, controlled and financed.
Q-2- Risk means exposure to ________
- potential loss
Option-1 Risk means exposure to danger.
Q-3- ISO 31000 defines risk as the effect of _________ of objectives, whether positive or negative.
Option-3 ISO 31000 defines risk as the effect of uncertainity of objectives, whether positive or negative.
Q-4- Risk could be considered as future uncertainity or anything that could occur to prevent achieving the ________ objective or planned reult or outcome.
Option-2 Risk could be considered as future uncertainity or anything that could occur to prevent achieving the expected objective or planned reult or outcome.
Q-5- Risk may be defined as “future uncertainity as regards __________ loss”.
Option-1 future uncertainity as regards financial loss.
Q-6- Risk may cause _______ loss and gain.
Option-3 Risk may cause both loss and gain.
Q-7- Risk may be ________ and ________.
- loss and gain
- physical and social
- positive and negative
- quantitative and qualititative
Option-2 Risk may be physial and social.
Q-8- Political risks also arise from “__________, expropriation, nationalization and deprivation” of private property by governments(CEND).
Option-1 confiscation,expropriation,nationalization and deprivation(CEND).
Q-9- Associated risks incluse all of following EXCEPT
- Business interruption
- Contract frustration
- Political violence/war
- Price fluctuations in stock exchange
Option-4 Associated risks includes all above except Price fluctuations in stock exchange
Q-10- Which of the following risks can cause direct harm or damage
- Social risk
- Market risk
- Physical risk
- Dynamic risk
Option-3 Physical risks can cause direct harm or damage.