Top 250+ Solved Insurance Management MCQ Questions Answer
Q. ………..principle in insurance mention the cause of loss must be direct andan insured one in order to claim for compensation.
a. subrogation
b. causa proxima
c. indemnity
d. uberrima fides
Q. ………… principle in insurance mention the assured must have insurableinterest in the life or property insured.
a. subrogation
b. causa proxima
c. indemnity
d. insurable interest.
Q. The first insurance contract was entered into by European maritime nationsin 1347 to accept ……..insurance as a practice.
a. life
b. vehicle
c. marine
d. fire
Q. Dr.Nicholas Barbon set up in 1967 the first fire insurance company knownas the ………..
a. Nicolas company
b. fire company
c. fire insurance company
d. fire office
Q. The oldest life insurance company in existence today is the society for theequitable assurance of lives and survivorship, known as ………
a. Eqitable insurance
b. Old equitable
c. socity for insurance
d. none of these.
Q. The ……………discovered by Jakob Bernoulls around 1700 forms the basisof modern insurance.
a. law of insurance
b. law of large numbers
c. law of modern insurance.
d. none of these
Q. The Sanskrit term …………..,the name of LIC of India corporateheadquarters,is found in Rig Veda.
a. Yogaraksha
b. Yogakarma
c. Yogakshema
d. all of these.
Q. The …………..company was the first insurance company to be set up inIndia to help the widows of the Europian community.
a. Life insurance corporation of Indi
b. Oriental Life Insurance Company
c. National insurance company
d. Bajaj insurance
Q. ………..is the first comprehensive legislation governed both life and non-lifebranches of insurance was enacted to provide strict state control over the insurance business in India.
a. Insurance Act-1938
b. Insurance Act-1939
c. Insurance Act-1940
d. Insurance Act-1941
Q. The LIC of India was set up in ……..to take over 245 life companies.
a. 1955
b. 1956
c. 1957
d. 1958
Q. ………….committee suggested the re-opening up of the insurance sector toprivate players.
a. K.N.Malhotra
b. R.N.Malhothra
c. Nrasimham
d. Goyal
Q. The IRDA stands for
a. Insurance Regulatory and Development Activity.
b. Insurance Reconstruction and Development Activity.
c. Insurance Regulatory and Development Authority.
d. Insurance Regulatory and Department Activity.
Q. The insurance industry till august 2000 had only two nationalised players ,LIC and ….
a. NI
b. GIC
c. IRDA
d. none of these
Q. The ………….,has allowed cooperative societies to carry on insurancebusiness.
a. Insurance (amendment)Act,2000
b. Insurance (amendment)Act,2001
c. Insurance (amendment)Act,2002
d. Insurance (amendment)Act,2003