Assessment Title : Chapter1 Total Questions : 10

Module : 1.HISTORY OF LIFE INSURANCE Total Marks : 10

Q1. The main role of an underwriter in a non-life insurance company is normally to

assess the acceptability of particular risks

certify a loss when claims are submitted

design the structure of the products to be offered

negotiate with the industry regulator

Q2. _____________ is an insurer for the insurance company

IRDA

Reinsurance company

LIC

GIC

Q3. Micro insurance is made specifically for people from.

High income.

Middle class.

Low income.

Affluent class.

Q4. Why is Insurance required

To Cover Risks of Life

To plan for Future goals

For Savings

All of the above

Q5. Micro insurance is transacted by

Life Insurers only

Non-Life Insurers only

non-life and life insurers

None of them

Q6. What is the maximum cover that can be provided in microinsurance?

5000

10000

50000

100000

Q7. Mr. Varun who owns a multi chain company would like to take an insurance. What will be the bestoption for him from the following ?

He can take Surety insurance

He can take Business Partner insurance

He can take Key man Insurance

He Can take company insurance

Q8. Which of the following does not form part of the regular function of I.R.D.A.?

Ensuring smooth running of the insurance sector

Granting of licenses to insurance companies agents intermediaries and Loss adjusters Surveyors.

Monitoring the solvency position of the insurance companies

Fixing up the premium rates for the products of the insurers

Q9. Which of the following statement does not characterize the Professional Insurance market

Transparency in its dealings with customers

It keeps the interest of its customers at the forefront of all that it does

That the customers get what they are looking for

Will have profit making as its only motive.

Q10. The Non-Government Organisations (NGOs) help the insurance industry immensely in

Promotional activities

Drafting new regulations

Linking buyers and sellers

Linking third party administrators (TPAs)