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Development Authority Irda Quiz 4 (25 MCQs)

Quiz Instructions:

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1. Fire insurance provides cover for:
2. Which of the following can easily be compensatedthro' insurance?
3. The emergence of which of the following necessitatesinsurance as a form of security?
4. Risk Transfer means-
5. Agents balances (Dr) is shown in the balance sheet of LIC are
6. Preliminary expenses incurred by life insurance companies is treated as
7. In LIC Revenue account, Schedule 4 is named as
8. Risk Financing includes-
9. Which is not a contract of indemnity?
10. Origins of modern insurance business can be traced to _____
11. Which among the following is the regulator for the insurance industry in India?
12. When is the best time to start financial planning?
13. _____ consists of collecting premiums from numerousindividuals to compensate the few who may sufferlosses
14. The commission received from the re-insurer is called
15. Which of the below cannot be categorized under risks?
16. If the indemnity period is six months, Previous year sale during indemnity is 20, 000, Annual sales is 50, 000, sales during indemnity period (Current year) is 8, 000, then short sales amount will be:
17. Insurance refers to protection against an event that _____ happen whereas Assurance refers to protectionagainst an event that _____ happen.
18. The policy period in General Insurance is _____
19. The average clause in a loss of profit policy protects the _____
20. Which are the methods to manage risks?
21. How life insurance is possible?
22. Human Life Value concept measures the value of ahuman life on the basis of his-
23. _____ and _____ refer to measures to reduce chance ofoccurrence and measures to reduce degree of losses.
24. If any condition is put by the Insurer then it is-
25. RESERVES FOR UNEXPIRED RISK FOR MARINE BUSINESS IS?
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