Top 350+ Solved Banking and Insurance MCQ Questions Answer
Q. For the purpose of insurance, motor vehicle are classified into ___Categories
a. Two
b. Three
c. Four
d. Five
Q. Third party claims are covered under Section ____ of the Motor Vehicle Act, which empowers the State Government to set up a Tribunal to adjudicate on the third party claims
a. Sec 165
b. Sec 175
c. Sec 185
d. Sec 187
Q. Which one is not feature of the contract of fire Insurance?
a. It is personal in nature
b. Cause of fire is immaterial
c. Covers losses as a whole
d. None of the Above
Q. Life Insurance Corporation (LIC) of India is a
a. Public sector company
b. Private sector company
c. Partnership Company
d. Joint venture
Q. The policy which cover against bodily injury resulting in death or disablement arising from an accident that has been caused by external violent and visible means is:
a. Personal accident insurance
b. Burglary Insurance
c. Burglary and house breaking insurance
d. None of the above
Q. As per the Insurance Act, every insurance has to prepare at the end of financial year?
a. Balance sheet
b. P/L account
c. Revenue A/c for each class of Insurance business
d. All of these
Q. The minimum sum insured under Fire insurance is
a. Rs. 1 crore
b. Rs. 2 crore
c. Rs. 3 crore
d. Rs. 4 crore
Q. General Insurance does not include:
a. Travel Insurance
b. Health Insurance
c. Home insurance
d. None of the above
Q. Life Insurance underwriting is mainly concerned with
a. Age
b. Health history
c. Mortality
d. Marital status
Q. ____________caters specifically to the transportation of goods or merchandise packed or in bulk and shipped either by sea, air or land.
a. Hull insurance
b. Cargo insurance
c. Liability insurance
d. Business insurance
Q. Motor insurance provides insurance cover to
a. Private vehicles
b. Commercial Vehicles
c. Motor cycles
d. All of these
Q. Which one of the following statements is correct?
a. A life insurance policy is a contract, enforceable in a court of law
b. A life insurance policy is not required to be stamped
c. Both the statements are correct
d. Both the statements are wrong
Q. Which one of the following statements is correct?
a. The principle of utmost good faith applies only to life insurance
b. The principle of utmost good faith applies only to non-medical cases
c. The principal of utmost good faith is operative only for two years
d. All the above statements are incorrect