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Development Authority Irda Quiz 1 (25 MCQs)

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1. Which of the following is not an element of the life insurance business

2. Government of India transacts life insurancebusiness in India through which of the following

3. Life Insurance covers the risk of-

4. THE TERM WHICH IS USED IN CASE OF LIFE INSURANCE COMPANIES( WHEN A POLICYHOLDER IS NOT IN A POSITION TO PAY THE FUTURE PREMIUMS ON HIS POLICY )?

5. Find out proximate cause of death in the following scenario. Ajay falls off a horse and breaks his back.He lies there in a pool of water and contacts Pneumonia.He is admitted to hospital and dies because of Pneumonia

6. Providing social security is the obligation of _____

7. When is it essential for Insurable Interest to be present in case of life Insurance

8. Considering insuring an ordinary ball pen is anexample of-

9. Cost of the risk would _____ with the probability andamount of loss

10. Which is not a capacity to enter into contract?

11. Lease Hold ground rents are shown in

12. For the year 2008, 2009, 2010 if the rate of gross profit were 15%, 20%, and 18%respectively, then the rate of Average gross profit for the year 2011 will be:

13. _____ involves pressure applied through criminal means

14. Who among the following is best advised to purchase a term plan

15. In Life Insurance, the policy amount is payable

16. Number of Schedules to be prepared by Insurance companies for their Financial statement are:

17. The losses of a few are shared among many throughthe mechanism of-

18. Claims paid by LIC is shown in:

19. WHO REGULATES INSURANCE SECTOR IN INDIA?

20. In commercial contracts, the principle to be observedis-

21. Which of the below is the advantage of cash value contracts

22. Which of the following is correct? Statement A-Insurance reduces burdensStatement B-Insurance is a system of mutualsupport.Statement C-Insurance the only method tomanage risks

23. Which of the following is correct? Statement A. The system of insurance benefitsindividual, family and the societyStatement B. Insurance companies could invest inspeculative ventures.

24. _____ is a rise in the general level of prices of goods and services in an economy over a period of time

25. _____ means every party to an insurance contractmust disclose all material information.

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Development Authority Irda Quiz 1 (25 MCQs)

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