This quiz works best with JavaScript enabled. Home > Economy > Banking > Insurance Awareness – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Insurance Awareness Quiz 13 (8 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. A section of the risk-based capital formula calculating requirements for reserves and premiums is termed as ..... A) Underwriter. B) Underwriting Risk. C) Universal Life Insurance. D) Unauthorized Reinsurance. Show Answer Correct Answer: B) Underwriting Risk. 2. In Insurance, CGL stands for..... A) Control General Liability. B) Captive General Liability. C) Common General Liability. D) Commercial General Liability. Show Answer Correct Answer: D) Commercial General Liability. 3. .....covers professionals for negligence and errors or omissions that injure their clients. A) Inland Marine Insurance. B) Nursing Home Insurance. C) Kidnap/Ransom Insurance. D) Professional Liability Insurance. Show Answer Correct Answer: D) Professional Liability Insurance. 4. The Payment to the policyholder at the end of the stipulated term of the policy is called ..... A) Sum Assured. B) Paid-up value. C) Maturity Claim. D) Surrender Value. Show Answer Correct Answer: C) Maturity Claim. 5. Anmol Jeevan is a .....of the LIC. A) Pension Plan. B) Children's Plan. C) Term Insurance Plan. D) Basic Life Insurance Plan. Show Answer Correct Answer: C) Term Insurance Plan. 6. ..... is a coverage protecting property against losses caused by a fire or lightning that is usually included in home owners or commercial multiple peril policies. A) Fire Insurance. B) Escrow Account. C) Earned Premium. D) Finite Risk Reinsurance. Show Answer Correct Answer: A) Fire Insurance. 7. Reinsurance placed with a company not authorized in the reporting company's state of domicile is called ..... A) Underwriter. B) Underwriting Risk. C) Universal Life Insurance. D) Unauthorized Reinsurance. Show Answer Correct Answer: D) Unauthorized Reinsurance. 8. When was general insurance business nationalised? A) 1970. B) 1971. C) 1972. D) 1973. Show Answer Correct Answer: D) 1973. ← PreviousRelated QuizzesEconomy QuizzesInsurance Awareness Quiz 1Insurance Awareness Quiz 2Insurance Awareness Quiz 3Insurance Awareness Quiz 4Insurance Awareness Quiz 5Insurance Awareness Quiz 6Insurance Awareness Quiz 7Insurance Awareness Quiz 8Insurance Awareness Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books