Top 150+ Solved Special Accounting MCQ Questions Answer
Q. The amount given to the policy holder due to his liability of paying Further premium is called ………………………………..
a. Annuity
b. Bonus
c. Surrender value
d. Claim
Q. ……………. Is an arrangement between two insurance companies whereby one transfers a part of risk to other .
a. Re insurance
b. Sub insurance
c. Shared policy
d. None of these
Q. Revenue account is also called …………………………………
a. Share holders a/c
b. Policy holders a/c
c. Creditors a/c
d. None of these
Q. Valuation balance sheet is prepared by ………………… business
a. Fire insurance
b. Marine insurance
c. Life insurance
d. All of these
Q. The commission earned by insurance companies from others for giving them business under re insurance is called ……………………
a. Commission on re insurance ceded
b. Commission on re insurance accepted
c. Agents commission
d. None of these
Q. The commission given by insurance companies to others for receiving Business under re insurance is called ………………….
a. Commission on re insurance ceded
b. Commission on re insurance accepted
c. Agents commission
d. None of these
Q. The profit and loss amount of general insurance companies are prepared in …………………………………..
a. Form A-PL
b. Form B – RA
c. Form B – PL
d. Form B – BS
Q. The principles of subrogation is applicable to ………………………
a. Fire insurance
b. Marine insurance
c. Burglary insurance
d. All of these
Q. Fire insurance, marine insurance etc come under ………………………
a. Life insurance
b. General insurance
c. Burglary insurance
d. Double insurance
Q. In life insurance investments are come under the schedule ………….
a. Schedule 7
b. Schedule 8
c. Schedule XI
d. Schedule IX
Q. A …………. Company should transfer 25% of its profit to a statutory Reserve
a. Joint stock company
b. Insurance company
c. pvt ltd company
d. Banking company
Q. Rebate on bill discounted is a ……………………… of the Banking company.
a. Liability
b. Assets
c. Expense
d. Income
Q. Banks are required to transfer …………………. Of their profit to a statutory reserve
a. 25%
b. 20%
c. 15%
d. 10%
Q. Rebate on bills discounted is …………………………….
a. Income
b. Income received in advance
c. Asset
d. income accrued
Q. Banking business in India is largely governed by the Banking Regulation Act……………………..
a. 1932
b. 1956
c. 1949
d. 1938