Top 250+ Solved Insurance Management MCQ Questions Answer
Q. The person responsible for evaluation and acceptance / rejection of risks and computation ofpremium in insurance is called
a. Insured
b. Assurer
c. Agent
d. Underwriter
Q. A person employed to do any act for another or to represent another in dealing with a third person refers to
a. Agent
b. Principal
c. Development Officer
d. Surveyor
Q. ______________ in the insurance are just like the retailers of any consumer product who help in selling and distributing the product.
a. Underwriters
b. Surveyors
c. Agents
d. Banker
Q. The agents who are selling policies of several life and non life insurance companies at a time are known as
a. Brokers
b. Surveyors
c. Underwriters
d. banks
Q. _____________ are independent professionals appointed by an insurance company to assess the loss or damage on a claim under a policy.
a. Surveyors
b. Loss Assessors
c. Both a and b
d. Agents
Q. Insurance contract is sort of contract which is approved by
a. The Indian Contract Act
b. Indian Factory Act
c. Indian Companies Act
d. The Indian Finance Act
Q. The term Assurance refers to ________.
a. Marine Insurance Business
b. Life Insurance Business
c. Fire Insurance Business
d. Motor Vehicle Business
Q. Committee of reforms in insurance sectors during 1993 headed by ________.
a. R.N. Malhotra
b. S. Narashiman
c. Manmohan Singh
d. P.Chidambaram
Q. Insurance business is based on __________.
a. Newtons Law
b. Boyles Law
c. The Theory of Probability and Law of large numbers
d. Parkinsons Law
Q. _____________ is pricing of insurance products driven by market forces
a. De-tariffing
b. Fixed Pricing
c. Tariffing
d. Penetration Pricing____
Q. ____________ is the total premium that a policy holder pays to insurance company
a. Net Premium
b. Gross Premium
c. Partial Premium
d. Level Premium