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Questions
Largest Life Insurance Company in India is:
Which one of the following does not belong to the main products of life insurance?
When was Life Insurance sector nationalised?
____________is a business professional who deals with the financial impact of risk and uncertainty.
Which of the following are the principles of Risk Management.1) Principle of riskidentification. 2) Principle of risk a
Purchasing insurance is a technique used to
Termination of a policy upon the policy owner's failure to pay the premium within the grace period is called as.
Collision Insurance is a type of
Upon the death of the insured, who receives the proceeds of the life insurance policy?
Most Firms shift their risks by
______________is the process of assessing risk, ensuring that the cost of the cover is proportionate to the risks faced
Life insurance and genral insurance are divided on the basis of
A series of payments made at fixed intervals of time is called as
Price of insurance protection for a specific risk for a specified period of time is called as.
The ratemaking function in a life insurance company is performed by
When a jewelry store locks its merchandise in a vault at the end of the day, it is practicing
insurance that provides protection for a stated period of time is defined as ______________ insurance.
_____________________is the actual application for benefits provided by an insurance company.
"A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an
Which of the following is the main objective of IRDA
Which of the following is the regulator of insurance sector in India?
Which of the following terms is NOT related to the insurance sector?
Risks that insurance firms wll not assume are called
Which amongst the following is not an insurance company functioning in India?
Defective Products is an example of which loss exposure
Option 1 Option 2
The New India Assurance Company Limited Life Insurance Corporation of India (LIC)
Personal accident insurance Endowment
1965 1956
Actuary Underwriter
1,2,3,4 1,4
Assume Risk Shift Risk
Maturity value Annuity
Automobile Physical damage insurance Bodily injury liability coverage
Beneficiaries Actuaries
Installing smoke alarms Buying an insurance policy
Underwriting Renewal
Nature of Insurance Business Point of View
Annuity Future Value
Premium Paid-up value
Actuarial Department Insurance Department
Risk Reduction Risk Avoidance
Stright life Term
Death Benefit coverage
Life insurance Death Coverage
To take care of the policy holder interest. To open the insurance sector for private sectors
IRDA AMFI
Claim Indemnity
Pure Risk Uninsurable Risks
National Securities Depository Limited New India Assurance company
Liability Loss Exposure Crime Loss Exposure
Option 3
National Insurance Company Limited
Whole life
1977
Agent
1,3,4
Reduce Risk
Lapse
Property damage liability coverage
Recipients
Establishing a safety program
Subrogation
Risk point of View
Present Value.
Insurable Interest
underwriter
Risk shifting
Limited payment
Claim
Provident Fund
Includes both
RBI
Misuse Alert
Insurable risk
ICICI prudential
Property loss exposure