Top 250+ Solved Basics of Banking and Insurance MCQ Questions Answer
Q. In fire insurance, insurable interest is enough at the time of........
a. effecting the policy
b. loss
c. maturity
d. both a & b
Q. ......... is an agreement whereby the insurer agrees to indemnify the insured againstlosses due to sea and port perils
a. fire insurance
b. marine insurance
c. life insurance
d. all the above
Q. ....... are those terms, which are written on the policy
a. express warranties
b. implied warranties
c. memorandum clause
d. valuation clause
Q. When the subject matter insured is destroyed wholly refers to.........
a. partial total loss
b. actual total loss
c. constructive total loss
d. none of these
Q. ------- policy issued on the basis of the number of persons assured
a. annuity policy
b. multiple life policy
c. single life policy
d. level premium policy
Q. Process of transferring right in respect of a policy from one person to another is
a. blank transfer
b. surrender
c. assignment
d. endorsement
Q. ......... means a wilful and intentional act on part of self destroyer
a. death
b. suicide
c. murder
d. accident
Q. A person employed to act for another or to represent another while dealing withthird party is
a. principal
b. trustee
c. agent
d. servant
Q. Maritime perils are also called..........
a. perils of the sea
b. moral hazards
c. morale hazards
d. none of these
Q. ............ policy in which the limits of the risks are determined by place ofparticular voyage
a. valued
b. time
c. voyage
d. unvalued
Q. ............. policy covers the risk during a particular voyage for a specific period
a. valued
b. time
c. voyage
d. mixed
Q. The term ‘run off or Fully declared’ refers to
a. floating policy
b. wagering policy
c. builders risk policy
d. open cover policy
Q. Wagering policy also known as
a. policy proof of interest
b. open policy
c. builders risk policy
d. port risk policy
Q. Risk insured against death is a contract of.......
a. assurance
b. agreement
c. indemnity
d. all the above