MCQs | eBooks – Textbook Solutions All types eBook are available
A. Risk Reduction B. Risk Retention C. Risk Avoidance D. Risk Transfer AnswerOption: C
Read More »Which of the following strategy reduces the chance of loss to zero?
A. Risk Reduction B. Risk Transfer C. Risk Avoidance D. Risk Retention Answer Option: C
Read More »____ is a contract between two or more insurance companies by which a portion of risk of loss is transferred to another insurance companies.
A. Banc-assurance B. Reinsurance C. Double Insurance D. Treaty Insurance Answer Option: B
Read More »The idea of insurance ombudsman was mooted in the year:
A. 1938 B. 1986 C. 1990 D. 1998 AnswerOption: A
Read More »Which of the following licensing criteria is used for.
A. Product profit B. Promoter & director’s background C. Rural & Social Sector Focus D. All of the above AnswerOption: D
Read More »The ratemaking function in a life insurance company is performed by _____.
A. Production sales management B. Actuarial department C. Insurance department D. Under writer AnswerOption: B
Read More »____ contract means that only one party makes a legally enforceable promise.
A. Unilateral B. Personal C. Aleatory contract D. Conditional AnswerOption: A
Read More »The consent will be free when it is not caused by:
A. Undue influence B. Fraud C. Coercion D. All of above AnswerOption: D
Read More »______ insurance is the one where the loss is not due to physical damage but the result of dishonesty of employees as a result of physical damage.
A. Personal B. Pecuniary C. Liability D. Motor AnswerOption: B
Read More »Risk financing techniques try to make good the losses. Which of the following measures come under Risk financing?
A. Risk reduction B. Risk retention C. Risk transfer D. Bothe A and C E. Both B and C AnswerOption: E
Read More »Loss of a Limb permanently damage due to an accident is an example of:
A. Actual Loss B. Consequential Loss C. Total loss D. Partial loss AnswerOption: A
Read More »Higher the percentage of ___ in GDP, lower the insurance penetration.
A. Insurance B. Agriculture C. Banking D. All of above AnswerOption: B
Read More »Unemployment can result from:
A. Imperfection in Labor market B. Seasonal Factors C. Business Cycle Downsizing D. All of the above AnswerOption: D
Read More »Risk management is synonymous with Insurance management.
A. True B. False AnswerOption: B
Read More »The law of large numbers can be applied more easily to ____ than speculative risk.
A. Acceptable Risk B. Objective Risk C. Subjective D. Pure Risk AnswerOption: A
Read More »