Top 250+ Solved Insurance Management MCQ Questions Answer
Q. __________ means insuring a risk with two or more insurers and the totalsum insured also exceeds the actual value of the subject matter.
a. Reinsurance
b. General Insurance
c. Single insurance
d. Double insurance
Q. _______ involves proportionate sharing of the insurance among more thanone insurer.
a. Reinsurance
b. Double Insurance
c. Co-insurance
d. None
Q. ________ means insuring again.
a. General insurance
b. Reinsurance
c. Coinsurance
d. Double insurance
Q. The proportion of the risk which the direct insurer holds on his ownaccount is called _________
a. Cession
b. Retention
c. Retrocession
d. Line
Q. Re-insurer is the insurer who grants a guarantee from the _______
a. Ceding insurer
b. Direct insurer
c. Underwriter
d. Line
Q. From the following which is not a non-proportional form of reinsurance?
a. Excess of loss method
b. Pools method of re insurance
c. Treaty method of reinsurance
d. Quata Method of reinsurance
Q. When the amount for which a subject matter is insured is more than itsactual value, it is called _________
a. Reinsurance
b. Double insurance
c. Over insurance
d. None
Q. ________ insurance means an alternative to purchasing insurance in acommercial market.
a. External
b. Internal
c. Double
d. Re insurance
Q. __________ Insurance is a contract to provide a measure of financialsupport to farmers in the event of a crop failure due to drought or flood.
a. Cattle
b. Crop
c. Burglary
d. Fire
Q. ________ means the transfer of all the rights and remedies available to theinsured in respect of the subject matter to the insurer after indemnity has been effected.
a. Subrogation
b. Indemnity
c. Contribution
d. None
Q. An unlooked mishap or an untoward event which is not expected ordesigned
a. Risk
b. Accident
c. Loss
d. None
Q. _________ is known as Rashtriya Krishi Bima Yojana
a. Crop insurance
b. Hut Insurance
c. PropertyInsurance
d. None