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Insurance Awareness Quiz 6 (20 MCQs)

Quiz Instructions

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1. ..... is an insurance to cover problems associated with travelling, generally including trip cancellation due to illness, lost luggage and other incidents.
2. Coverage for property taken or destroyed by breaking and entering the insured's premises, burglary or theft, forgery or counterfeiting, fraud, kidnap and ransom, and off-premises exposure is known as
3. ..... is the amount the insurance company has to pay you when the policy matures that would also include the sum assured and the bonuses.
4. Insurance that indemnifies the owner of real estate in the event that his or her clear ownership of property is challenged by the discovery of faults in the title is called .....
5. Coverage for losses incurred as a result of the failure of an insured object on the insured's premises is referred as .....
6. When was Triton Insurance Company Ltd established?
7. Which one of the following is the special drawing rights given by the International Monetary Fund to its member countries?
8. ..... refers to the insurance company that offers the policy.
9. ..... is a policy contract that for some reason specified in the policy becomes free of all legal effect.
10. To use life insurance policy benefits as collateral for a loan is called .....
11. A single insurance policy that combines several coverages previously sold separately is termed as .....
12. The period during which the owner of a deferred annuity makes payments to build up assets is called .....
13. The reinsurance bought by re-insurers to protect their financial stability is termed as .....
14. An individual who may become eligible to receive payment due to will, life insurance policy, retirement plan, annuity, trust, or other contract is known as .....
15. ..... is a type of reinsurance in which the re-insurer can accept or reject any risk presented by an insurance company seeking reinsurance.
16. How much maximum amount that is insured by "deposit insurance" credit corporation (DICGC)
17. A document given to an applicant for life insurance stating that the company's acceptance is contingent upon determination of the applicant's insurability is known as .....
18. Selling insurance through groups is called .....
19. Perils that cannot reasonably be guarded against, such as floods and earthquakes is known as .....
20. Insurance Act.....
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