Top 350+ Solved Banking and Insurance MCQ Questions Answer
Q. _________ is a contract between two insures i.e. original insurer and another insurer.
a. Insurance
b. Reinsurance
c. Policy
d. Premium
Q. The spreading of losses incurred by the few over the entire group is called
a. pooling
b. pulling
c. contribution
d. joining
Q. Freight insurance is under
a. life insurance
b. marine insurance
c. fire insurance
d. other miscellaneous
Q. Insurance principle does not include
a. principle of indemnity
b. principle of utmost good faith
c. principle of knowledge
d. principle of subrogation
Q. ________ means the transfer of all the rights and remedies available to the insured in respect of the subject matter to the insurer after indemnity has been effected.
a. Subrogation
b. Indemnity
c. Contribution
d. none
Q. The IRDA stands for
a. . Insurance Regulatory and Development Activity.
b. . Insurance Reconstruction and Development Activity.
c. . Insurance Regulatory and Development Authority.
d. . Insurance Regulatory and Department Activity.
Q. Virtual banking is also called
a. Internet Banking
b. Home banking
c. Mobile banking
d. None of these
Q. Role and importance of insurance includes:
a. Insurance provides security and safety
b. Re-adjustments needs
c. Key Man Indemnification
d. All of the above
Q. The valid contract, according to Section 10 of Indian Contract Act 1872, must have the following essentialities
a. Agreement
b. Legal consideration
c. Legal object
d. All of the above
Q. For regulation and development of the insurance sector of the country the Government has formed:
a. SEBI
b. Reserve Bank of India
c. Insurance Regulatory and development Authority
d. General Insurance Corporation.
Q. The following are the types of life insurance products:
a. Term Insurance
b. Whole life Insurance
c. Endowment policy
d. All of the Above
Q. Insurance which provides cover for losses or damages that could occur to goods in transit on sea, rail, road or air is known as
a. Cargo Insurance
b. Hull Insurance
c. Rail Insurance
d. Marine Insurance
Q. An insurance which is concern with the carrier of goods
a. Cargo Insurance
b. Hull Insurance
c. Road Insurance
d. Marine Insurance