Top 250+ Solved Insurance Management MCQ Questions Answer
Q. The ________ is the party who agrees to compensate the otherperson against possible losses.
a. Insured
b. Insurer
c. Assured
d. None
Q. The ________ is the party who gets his life or propertyinsured against risks.
a. Insured
b. Insurer
c. Assurer
d. None
Q. The insurer agrees to compensate the insured in considerationof a sum of money is called
a. Premium
b. Policy
c. Subject matter
d. None
Q. The things or property insured is called ________ of theinsurance
a. Subject matter
b. Insurable interest
c. Policy
d. None
Q. A contract of insurance is a ________ agreement.
a. Contingent
b. Constant
c. both
d. None of these
Q. ________ was the first Indian Insurance Company
a. Bombay Mutual Assurance Society Ltd.
b. Bombay Insurance Society Ltd.
c. Insurance Regulatory Development Authority
d. General Insurance Corporation
Q. Risk is evaluated on the basis of ________ theory
a. Variability
b. Contingency
c. Probability
d. All
Q. From the following, which is not a type of risk?
a. Speculative risks
b. Dynamic risks
c. Fundamental
d. Quantitative
Q. Which of the following insurance contract is not based on theprinciple of indemnity.
a. Fire insurance
b. Marine insurance
c. Life insurance
d. All
Q. Human life is the subject matter of a contract of ________
a. Life assurance
b. Fire insurance
c. Marine insurance
d. General insurance
Q. Motor insurance provides insurance cover to ________
a. Private vehicles
b. Commercial vehicles
c. Motorcycles
d. All of these
Q. Employee's State Insurance Corporation was established in ________
a. 1968
b. 1958
c. 1948
d. 1988