Top 250+ Solved Insurance Management MCQ Questions Answer
Q. Insurance cannot prevent the occurrence of risk but it provides for the………
a. losses of risk
b. occurrence of risk
c. chance of risk
d. none of these
Q. The document which embodies the contract in insurance is called…………
a. security
b. policy
c. certificate
d. none of these
Q. ……… principle in insurance means maximum truth.
a. subrogation
b. causa proxima
c. insurable interest
d. uberrima fides
Q. Which of the following terms matches closest with ‘Composite Policy’?
a. Shopkeepers’ insurance
b. Janatha Personal Accident insurance
c. Critical Care Health insurance
d. Marine Cargo insurance
Q. Members of the Insurance Advisory Committee are drawn to represent theinterests of different groups like:
a. Surveyors, agents, advocates
b. Commerce, transport,
c. Consumer fora, industry, intermediaries,
d. Research bodies, organisations engaged in safety and loss prevention
Q. Which of the following covers is dissimilar to the other four options?
a. Loss of Passport
b. Loss of Profits
c. Loss of checked in baggage
d. Delay in receiving checked in baggage
Q. Which of the following types of insurances is dissimilar to the other fouroptions?
a. Builders’ Risks insurance
b. Hut insurance
c. Crop insurance
d. Livestock insurance
Q. Which of the following terms matches closest with ‘Asbestosis’?
a. Products
b. Pension
c. Rough Weather
d. Workmen’s Compensation
Q. Regarding ‘Exclusions’ find out the incorrect statement.
a. Exclusions are indicated in the policy
b. Exclusions are perils or circumstances not covered
c. Exclusions limit the coverage under the policy
d. Exclusions do not deal with risk coverage
Q. Which of the following statements is incorrect in respect of brokers?
a. Brokers require to undergo training before being licensed
b. Brokers are appointed by insured to take care of their interests
c. Brokers have to pass examinations before being licensed
d. Brokers should be registered companies or firms
Q. Which of the following terms is dissimilar to the other four options?
a. Jettison
b. Hit and Run
c. Sue and Labour
d. Salvage
Q. Which of the following terms is dissimilar to the other four options?
a. Post-hospitalisation expenses
b. Expenses on treatment of pre-existing diseases
c. Reinstatement value
d. Funeral expenses
Q. Principle of utmost good faith is also known as ………..
a. subrogation
b. causa proxima
c. insurable interest
d. uberrima fides
Q. …………….principle means that the insured is not entitled to make a profiton his loss.
a. subrogation
b. causa proxima
c. indemnity
d. uberrima fides
Q. The purpose of ………. Are to hold the negligent person responsible for theloss and prevent the insured from collecting twice for the same loss.
a. subrogation
b. causa proxima
c. indemnity
d. uberrima fides