Top 350+ Solved Banking and Insurance MCQ Questions Answer
Q. A marine insurance is a contract of___________________
a. Increment
b. Indemnity
c. Maturity
d. None
Q. _________means as complete loss or destruction of the subject matter in the policy
a. Partial loss
b. Total loss
c. Actual loss
d. None
Q. _________policy is issued to cover the risks involved when ship is anchored in the post
a. Cargo
b. Port risk
c. Currency
d. Fleet
Q. ___________________policy is taken to cover different risks for a single shipment
a. Blanket
b. Named
c. Specific cover
d. Block
Q. FPR means_________________
a. First Premium Receipt
b. Fourth premium receipt
c. First policy receipt
d. First policy record
Q. ___________ is a policy in which the limits of the risks are determined by the place of particular voyage
a. Time policy
b. Valued policy
c. Voyage policy
d. Floating policy
Q. Life insurance policies are issued for __________years duration
a. 15-20
b. 5-10
c. 10-15
d. 10-20
Q. A fire policy containing an average clause is___________________
a. Valued policy
b. Average policy
c. Specific policy
d. Floating policy
Q. A policy causes loss on goods which are laying in different places
a. Specific
b. Declaration
c. Replacement
d. Floating
Q. Property insurance may not include_______________
a. Burglary
b. Fidelity
c. Insolvency
d. Sickness
Q. _______is a contract against injury or death resulting from accident
a. Property insurance
b. Liability Insurance
c. Personal accident insurance
d. None of these
Q. The person whose risk is insured is called ________________
a. Assured
b. Insured
c. Under writer
d. Both A & B
Q. In marine insurance insurable interest is enough at the time of_______________
a. Maturity
b. Insurance
c. Loss
d. Claim
Q. ______ is an agreement whereby the insurer agreed to indemnity the insured against marine losses
a. Fire insurance
b. Marine Insurance
c. Life Insurance
d. Property Insurance