This quiz works best with JavaScript enabled. Home > General Knowledge > Economy > Banking > Insurance Awareness – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Insurance Awareness Quiz 5 (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) Universal Life Insurance. B) Unauthorized Reinsurance. C) Underwriting Risk. D) Underwriter. Show Answer Correct Answer: C) Underwriting Risk. 2. In Insurance, CGL stands for..... A) Captive General Liability. B) Control 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) Paid-up value. B) Maturity Claim. C) Surrender Value. D) Sum Assured. Show Answer Correct Answer: B) Maturity Claim. 5. Anmol Jeevan is a .....of the LIC. A) Basic Life Insurance Plan. B) Children's Plan. C) Pension Plan. D) Term Insurance Plan. Show Answer Correct Answer: D) 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) Finite Risk Reinsurance. B) Fire Insurance. C) Earned Premium. D) Escrow Account. Show Answer Correct Answer: B) Fire Insurance. 7. Reinsurance placed with a company not authorized in the reporting company's state of domicile is called ..... A) Unauthorized Reinsurance. B) Universal Life Insurance. C) Underwriting Risk. D) Underwriter. Show Answer Correct Answer: A) Unauthorized Reinsurance. 8. When was general insurance business nationalised? A) 1973. B) 1971. C) 1972. D) 1970. Show Answer Correct Answer: A) 1973. ← PreviousRelated QuizzesEconomy QuizzesGeneral Knowledge QuizzesInsurance Awareness Quiz 1Insurance Awareness Quiz 2Insurance Awareness Quiz 3Insurance Awareness Quiz 4Banking Awareness And Sebi QuizTaxes In India Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books