Banking and Insurance MCQs and Notes

M

Mr. Dubey • 52.52K Points
Coach

Q 41. Insurance works on the principle of

(A) Sharing of losses
(B) Probabilities
(C) Large numbers
(D) All of the Above

M

Mr. Dubey • 52.52K Points
Coach

Q 42. Life Insurance Corporation of India headquarter is in

(A) Delhi
(B) Chennai
(C) Guwahati
(D) Mumbai

M

Mr. Dubey • 52.52K Points
Coach

Q 43. The General Insurance Business Nationalization Act was passed in

(A) 1952
(B) 1972
(C) 1962
(D) 1982

M

Mr. Dubey • 52.52K Points
Coach

Q 44. Risk may be:

(A) objective
(B) subjective
(C) Both (a) and (b)
(D) None of the above

M

Mr. Dubey • 52.52K Points
Coach

Q 45. Life insurance made its first appearance in England in the

(A) 14th century
(B) 15th century
(C) 16th century
(D) 17th century

M

Mr. Dubey • 52.52K Points
Coach

Q 46. ___________is the oldest form of insurance

(A) Motor insurance
(B) Marine insurance
(C) Fire
(D) Life

M

Mr. Dubey • 52.52K Points
Coach

Q 47. Insurance principle does not include

(A) Principle of indemnity
(B) Principle of utmost good faith
(C) Principle of knowledge
(D) Principle of insurable interest

M

Mr. Dubey • 52.52K Points
Coach

Q 48. The principle functions of an insurance contract are

(A) To define the risk that is to be transferred
(B) To state the conditions under which the contract applies
(C) To explain the procedure for settling losses
(D) All of the Above

M

Mr. Dubey • 52.52K Points
Coach

Q 49. Commercial Banks make money available to public by

(A) A.T.M
(B) Honouring cheques
(C) Issuing money on demand from Savings A/c
(D) giving out loan

M

Mr. Dubey • 52.52K Points
Coach

Q 50. Commercial Bank as the name suggest is a bank functioning for

(A) Social welfare
(B) Public interest
(C) Profit motive
(D) Growth of industry

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