MCQS on Banking and Insurance (Part-8 161 to 180)

 161) A fire policy containing an average clause is___________________ 

a) Valued policy 

b) Average policy 

c) Specific policy 

d) Floating policy 

162) A policy causes loss on goods which are laying in different places 

a) Specific 

b) Declaration 

c) Replacement 

d) Floating 

163) Property insurance may not include_______________ 

a) Burglary 

b) Fidelity 

c) Insolvency 

d) Sickness 

164) _______is a contract against injury or death resulting from accident 

a) Property insurance 

b) Liability Insurance 

c) Personal accident insurance 

d) None of these 

165) Motor vehicle insurance begin in ________________ 

a) UK 

b) USA 

c) India 

d) Japan 

166) The person whose risk is insured is called ________________ 

a) Assured 

b) Insured 

c) Under writer 

d) Both A & B 

167) In marine insurance insurable interest is enough at the time of_______________ 

a) Maturity 

b) Insurance 

c) Loss 

d) Claim 

168) ______ is an agreement whereby the insurer agreed to indemnity the insured against marine losses a) Fire insurance 

b) Marine Insurance 

c) Life Insurance 

d) Property Insurance 

169) The term Assurance refers to______________ 

a) Life insurance business 

b) Fire insurance business 

c) Motor vehicle Insurance 

d) Marine Insurance 

170) Marine peril is also called as______________ 

a) Morale hazards 

b) Moral hazards 

c) Peril of the sea 

d) None 

171) Medical expense insurance is also known as__________________ 

a) Personal insurance 

b) Liability insurance 

c) Medi claim 

d) Fidelity 

172) The constitution of the IRDA consists of not more than ___________ members 

a) 8 

b) 9 

c) 10 

d) 11 

173) ____________ is also termed as group risk 

a) Fundamental risk 

b) Static risk 

c) Property risk 

d) Liability risk 

174) Life insurance company was set up in______________ 

a) 1823 

b) 1832 

c) 1822 

d) 1821 

175) The principle of indemnity does not apply to 

 a) Life insurance 

b) Personal accident insurance 

c) Both a & b 

d) None 

176) The normal period of a ____________ insurance contract is one year 

a) Life 

b) Marine 

c) Fire 

 d) Property 

177) Marine insurance protect against_______________ 

a) Fire perils 

b) Marine perils 

c) Both a and B 

d) None 

178) Motor vehicle act was established in______________ 

a) 1888 

b) 1988 

c) 1998 

d) 1978 

179) _________ enable to regroup the losses suffered by people consequent on burglary or hour breaking 

a) Burglary insurance 

b) Fire insurance 

c) Both A and B 

d) None 

180) The term________ is referred only life insurance business 

a) Warranties 

b) Almost good faith 

c) Assurance 

d) None