Q-11- _____________are those where a part of the premium is charged for the risk cover and the rest is invested in selected mutual funds as per the choice of the investor.
- partial insurance
- double insurance
- unit-linked insurance
- mutual fund insurance
Option-3 unit-linked insurance
Q-12- ________ is an amount in excess of the value of insurers assets over the
amount of liabilities.This amount is prescribed by IRDA.
- profit
- margin
- goodwill
- solvency margin
Option-4 solvency margin
Q-13- In India ______ controls and regulate the rates, advantages , terms and
conditions that may be offered by insures in respect of general insurance business relating to marine (hull) ,motor ,engineering and workmen compensation.
- LIC
- GIC
- TAC
- IRDA
Option-3 Tariff Advisory Committee(TAC)
Q-14- The form in which the proposer gives his details in writing, asks for the type of cover and is also the basis of an insurance contract is known as ________.
- Proposal Form
- Mandate Form
- Application Form
- Underwriting Form
Option-1 Proposal Form
Q-15- All of the following are financial risks which may be faced by business
organizations EXCEPT
- interest rate risk
- product liability risk
- commodity price risk
- currency exchange rate risk
Option-2 product liability risk
Q-16- LIC Housing Finance Ltd. was incorporated on ________.
- 1984
- 1989
- 1969
- 1993
Option-2 1989
Q-17- ________is a plan designed for businessmen and professionals as money is available periodically.
- Jeevan Saathi
- Jeevan Surabhi
- Jeevan Kishore
- Jeevan Sukanya
Option-2 Jeevan Surabhi
Q-18- Final accounts of Life Insurance Companies include
- Revenue account
- Profit and loss account
- Receipt and payment account
- All of above
Option-4 All of above
Q-19- The scope of protection provided under the contract of insurance is _______
- Coverage
- Condition
- Contribution
- None of above
Option-2 Coverage
Q-20- When a company reinsures its liability with another, then it _____business.
- Cede
- Ceding
- Cession
- None
Option-4 Cedes
These Insurance GK questions are important for students, those preparation for Licentiate or any other exams require exposures of General insurance. Awareness of Fire insurance and accounting practices followed in managing and maintaining various accounting standards.
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