Banking and Insurance

M

Mr. Dubey • 51.47K Points
Coach

Q 11. Marine insurance may cover loss or damage to the ________

(A) Ship
(B) Cargo
(C) Any other subject of Marine adventure
(D) All of these
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M

Mr. Dubey • 51.47K Points
Coach

Q 12. Which of the following insurance contract is not based on the principle of indemnity.

(A) Fire insurance
(B) Marine insurance
(C) Life insurance
(D) All
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M

Mr. Dubey • 51.47K Points
Coach

Q 13. ________ was the first Indian Insurance Company

(A) Bombay Mutual Assurance Society Ltd.
(B) Bombay Insurance Society Ltd.
(C) Insurance Regulatory Development Authority
(D) General Insurance Corporation
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M

Mr. Dubey • 51.47K Points
Coach

Q 14. Health insurance can be availed by people aged between ______ and ______

(A) 10 and 100
(B) 7 and 75
(C) 5 and 75
(D) 10 and 70
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M

Mr. Dubey • 51.47K Points
Coach

Q 15. Under ________ insurance, loss of profit policy is called as consequential loss policy

(A) Marine
(B) Property
(C) Fire
(D) Life
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M

Mr. Dubey • 51.47K Points
Coach

Q 16. The central office of LIC of India is located at ________

(A) Mumbai
(B) New Delhi
(C) Bangalore
(D) Chennai
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M

Mr. Dubey • 51.47K Points
Coach

Q 17. The term 'Assurance' refers to ___________

(A) Life Insurance business
(B) Fire insurance business
(C) Motor Vehicle insurance
(D) Marine insurance
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M

Mr. Dubey • 51.47K Points
Coach

Q 18. In the case of life insurance, the principle of insurable interest operates

(A) In the same way as in marine insurance
(B) In the same way as fire insurance
(C) In the same way as in motor insurance
(D) Differently than in other forms of insurances.
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Mr. Dubey • 51.47K Points
Coach

Q 19. In case of life insurance, insurable interest should exist

(A) At the inception of policy
(B) At the time of claim
(C) At the time of every renewal of premium payment
(D) All the above occasions
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M

Mr. Dubey • 51.47K Points
Coach

Q 20. Insurable interest is

(A) Defined in the Insurance Act
(B) Defined in the Contract Act
(C) Defined by IRDA
(D) Not defined in any written law
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