Top 350+ Solved Banking and Insurance MCQ Questions Answer
Q. Which of the following insurance contract is not based on the principle of indemnity
a. Fire insurance
b. Marine insurance
c. Life insurance
d. None
Q. Human life is the subject matter of a contract of_______________
a. Life insurance
b. Fire insurance
c. Marine Insurance
d. None-life insurance
Q. Motor insurance provides insurance cover to _____________________
a. Private vehicles
b. Commercial
c. Motor cycles
d. All of these
Q. Expanded form of IRDA is_________________________
a. Insurance Regulatory Development Authority
b. Insurance reforms development Act
c. Insurance Restructure Development Authority
d. Indian RE- insurance Development Authority
Q. Marine insurance may cover loss or damage to the ___________
a. Ship
b. Cargo
c. Any other subject of marine adventure
d. All of these
Q. Risk is evaluated on the basis of ___________ theory
a. Variability
b. Contingency
c. Probability
d. All
Q. Insurance is a written agreement between the insured and the__________
a. People
b. Individuals
c. Institutions
d. Insured
Q. Which of the following insurance contract is not based on the principle of indemnity
a. File Insurance
b. Marine Insurance
c. Life insurance
d. None
Q. ________means closure or writing off the policy before its actual maturity
a. Fore closure
b. Surrender
c. Endorsement
d. Cover not
Q. If the insured dies before the expiry of the term of the policy is known as________
a. Policy
b. Premium
c. Death claim
d. Death policy
Q. If more than one person claim the policy Money is called_______________________
a. Death claim
b. Rival claim
c. Both
d. None