Top 250+ Solved Insurance Management MCQ Questions Answer
Q. From the following which is not a type of Public Liability Risk Insurance
a. Industrial Risk Insurance
b. Industrial All Risk Insurance
c. Non - Industrial Risk Insurance
d. Business premises Insurance
Q. _____________ Policy issued on the basis of the number of persons assured.
a. Single life
b. Level Premium
c. Annuity
d. Multiple life
Q. The danger of loss from the unforeseen circumstances in future refers to_________
a. Perils
b. Hazards
c. Damage
d. Risk
Q. _____________ Policy is granted only in respect of stocks of inventories ofthe insured under fire insurance business.
a. Declaration
b. Floating
c. Replacement
d. Valued
Q. The term 'Assurance' refers to ___________
a. Life Insurance business
b. Fire insurance business
c. Motor Vehicle insurance
d. Marine insurance
Q. __________ provides evidence of insurance to the police and RegistrationAuthorities under Motor Vehicle Act.
a. Endorsement
b. Policy Form
c. Certificate of insurance
d. Cover note
Q. Policy holders are expected to pay premium on due dates, a period of 15-30days is allowed as grace to make payment of premium from the due date is _____
a. Days of grace
b. Days of indemnity
c. both
d. None
Q. The main cause of loss or damage is _____________
a. Proximate cause
b. Indirect Loss
c. Consequential loss
d. All of these
Q. The cause of a possible loss, such as fire windstorm theft etc. is known as _____
a. Peril
b. Barratry
c. both
d. None
Q. ________ is a package policy which provides protection against a number ofseparate points.
a. Single peril policy
b. Group peril policy
c. Multiperil policy
d. None
Q. When a company reinsures its liability with another, then it ________ business
a. Cession
b. Cedes
c. Ceding
d. None
Q. The scope of protection provided under the contract of insurance is ______
a. Condition
b. Coverage
c. Contribution
d. None
Q. Medical expense insurance is also known as ________
a. Personal insurance
b. Liability insurance
c. Medi claim
d. Fidelity