Top 250+ Solved Basics of Banking and Insurance MCQ Questions Answer
Q. Certain percentage of the sum assured is paid periodically according to..........policy
a. term
b. endowment
c. money back
d. group insurance
Q. The principle of indemnity does not apply to
a. burglary insurance
b. fire insurance
c. marine insurance
d. life and personal accident insurance
Q. Transfer of rights and remedies of the insured to the insurer after indemnity hasbeen effected is called
a. insurable interest
b. subrogation
c. proximate cause
d. mitigation of loss
Q. Guarantee for employer for the loss out of employees dishonest is
a. burglary insurance
b. fidelity insurance
c. third party insurance
d. guarantee insurance
Q. Fidelity guarantee insurance does not guarantee
a. the death of the employer
b. the death of the employee
c. the employees honesty
d. the employers honesty
Q. This policy covers all risks to the ship and its cargo while the ship is at aparticular port.
a. voyage policy
b. floating policy
c. time policy
d. port risk policy
Q. Fire insurance can be taken in respect of
a. movable properties only
b. immovable properties only
c. both a & b
d. persons only
Q. The principle of indemnity applicable to...........
a. life insurance
b. personal accident insurance
c. property insurance
d. all of these
Q. Except life insurance the maximum term of other insurance is
a. 12 months
b. 24 months
c. 6 months
d. 36 months
Q. The person who agrees to compensate the loss arising from the risk is called the ........
a. insurer
b. underwriter
c. assurer
d. all of these
Q. ............ policy matures on the assureds’ death or on his attainment of particular agewhichever is earlier
a. endowment policy
b. money back policy
c. joint life policy
d. single premium policy
Q. In marine insurance, insurable interest is enough at the time of........
a. claim
b. loss
c. maturity
d. insurance