Top 250+ Solved Insurance Management MCQ Questions Answer
Q. Objective of IRDA includes
a. policy holder protection
b. healthy growth of the insurance market
c. both a and b
d. only a
Q. IAIS stands for……
a. Internal Association of Insurance Supervisors
b. International Association of Insurance Supervisors
c. International Academy of Insurance Supervisors
d. International Association of Insurance Surveyors
Q. To provide the insured a speedy and inexpensive grievance redressal system,the Govt.of India promulgated…………
a. Redressel of public grievance Rule 1987
b. Redressel of public grievance Rule 1988
c. Redressel of public grievance Rule 1989
d. Redressel of public grievance Rule 1990
Q. RPG rule 1988 set up an institution for building the confidence of the policyholders in insurance.
a. management
b. ombudsman
c. council
d. committee
Q. An ombudsman is entrusted with………..functions
a. managing & concilling
b. conciliation and award making
c. agency and principal
d. none of the above
Q. The ……….associated with the insurance business are agents, surveyors,loss assessors, brokers, third party administrators and banks.
a. management
b. organisation
c. intermediaries
d. regulators
Q. …………..in the insurance are just like the retailers of any consumer productwho help in selling and distributing the product.
a. surveyors
b. loss assessors
c. agents
d. banks
Q. …………are independent professionals appointed by an insurance companyto assess the loss or damage when a claim is notifed under a policy issued by them.
a. surveyors
b. loss assessors
c. agents
d. both a and b
Q. …………are agents but they can sell policies of several life and non-lifeinsurance companies at a time.
a. surveyors
b. loss assessors
c. brokers
d. banks
Q. ………….are the middlemen in the healthcare delivery chain in insurancesector.
a. surveyors
b. loss assessors
c. brokers
d. TPAs
Q. ……………is insurance companies tying up with banks to sell insuranceproducts.
a. franchising
b. merger
c. bancassurance
d. insuranced linked banking
Q. …………..company sent 50,000 direct mailers to office –goers in Mumbaithrough their lunch boxes.
a. Bajaj insurance
b. Reliance insurance
c. Icici insurance
d. Tata insurance
Q. ICICI prudential Life insurance company sent 50,000 direct mailers tooffice –goers in Mumbai through their lunch boxes.It is a
a. Worksite marketing
b. Direct marketing
c. retail marketing
d. none of these.
Q. ________ is a social device for eliminating or reducing theloss of society from certain risk.
a. Premium
b. Policy
c. Insurance
d. Contract