Top 150+ Solved Special Accounting MCQ Questions Answer
Q. To ascertain profit in life insurance business ………………. Prepared.
a. Revenue account
b. Profit and Loss account
c. Valuation balance sheet
d. None of these
Q. ……………….. of an insurance company are shown in schedule 9.
a. Loan
b. Fixed asset
c. cash & bank balance
d. None of these
Q. The consideration in insurance for covering the risk iscalled………….
a. Claim
b. Premium
c. Annuity
d. None of these
Q. ……………. Is the party who undertakes the risk in insurance
a. Insurer
b. Assurer
c. Underwriter
d. All of these
Q. The party whose risk is covered in insurance is known as
a. Insurer
b. Insured
c. Underwriter
d. None of these
Q. In …………. The insurer agrees to pay a certain sum of money to the Policyholder either on his death or a certain age, whichever is less.
a. Fire insurance
b. Marine insurance
c. Burglary insurance
d. Life insurance
Q. General insurance includes ………………………………………..
a. Fire insurance
b. Marine insurance
c. Burglary insurance
d. All of these
Q. Under ………….. , the sum assured is given to the beneficiary only On death of policy holder
a. Whole life policy
b. Endowment policy
c. Annuity
d. None of these
Q. ………………… is the amount payable to the insured on the happening of event.
a. premium
b. Annuity
c. Claim
d. Policy
Q. An annual payment which an insurer guarantees to pay for lump sum money received in the beginning is called ………………..
a. Premium
b. Annuity
c. Claim
d. Policy