exampundit.

in

http://www.exampundit.in/2015/08/expected-insurance-awareness-questions.html

1. What amount of Sum is insured in Pradhan Mantri Suraksha Bima Yojana in case of Death?
- 2 Lakh
2. What amount of Sum is insured in Pradhan Mantri Suraksha Bima Yojana in case of partial disability?
- 1 lakh
3. What is the Premium amount of Pradhan Mantri Suraksha Bima Yojana?
- Rs. 12 per annum
4. An insurance Ombudsman is appointed for a term of _________.
- 3 Years or till he reach 65 years. Whichever is earlier

5. The Insurance ombudsman shall pass an award within a period of _________.

- Three Months

6. You can approach the Ombudsman with complaint if you have first approached your insurance
company with the complaint and Not responded to it at all for ______.
- 30 Days

7. While approaching the Insurance Ombudsman the value of the claim including expenses claimed shall
not be above _______.
- Rs. 20 Lakh

8. What is the premium amount of Pradhan Mantri Jeevan Jyoti Bima Yojana?
- Rs. 330 per annum
9. What is the scope of coverage of Pradhan Mantri Jeevan Jyoti Bima Yojana?
- 18 to 50 years

10. What is the minimum and maximum age of Pradhan Mantri Suraksha Bima Yojana?
- 18 Minimum and 70 maximum

11. Insurance Companies, ensure that in each claim free year the policyholder gets a benefit known as
_______.
- Cumulative Bonus
12. The first Non-payment of policy premium by the policy holder is known as _______.
- First Unpaid Premium
13. The willful and malicious burning of property, often with criminal intent is known as _______.
- Arson
14. A group of claims with a common period of origin is known as ________.

- Claims Cohort
15. An arrangement whereby a provisional premium is paid and subsequently adjusted by an additional or
return premium on receipt of a declaration from the insured giving details of values at risk is known as
________.
- Declaration Basis

16. Intentional failure to perform a duty, reckless disregard of the consequences as affecting the life or
property of another is known as __________.
- Gross Negligence

17. What does IBNR stands for?

- Incurred but not Reported

18. An all risk insurance contract that provides jewelers with coverage to losses, which they would be
exposed is known as ________.
- Jewelers Block Insurance

19. What does Retrocession mean in Insurance?

- A transaction in which a reinsurer transfers risks it has reinsured to another reinsurer.

20. What does Solvency margin mean in Insurance?

- Surplus of assets over liabilities