Q1.
The objective of risk management is to _________ the impact of losses to an individual.
Q2.
In which of the following methods of risk management, risk is avoided as far as possible through measures which are non hazardous?
Q3.
In which of the following methods of risk management steps are taken for reduction of chances and severity of losses?
Q4.
The risk management method where risk is kept with oneself is:
Q5.
Insurance is a an example of which of the following methods of risk management?
Q6.
The risk management method which is a private arrangement consisting of risk sharing pools is:
Q7.
Which of the following is/are the methods of risk management?
Q8.
A fortuitous loss is:
Q9.
Which of the following is/are characteristic/s of insurance?
Q10.
Pure risk is a risk which involves:
Q11.
Which of the following is/are advantage/s of law of large numbers?
Q12.
Not driving a car for risk of accident is an example of:
Q13.
Which of the following is not a way to finance risk?
Q14.
_______ risk is appropriate for high severity risk.
Q15.
Which of the following represent personal risk management?
Q16.
Which of the following represent need of for insurance?
Q17.
Which of the following is a requirement of insurable risk?
Q18.
All risks are insurable.
Q19.
Which of the following is not a characteristic of insurable risk?
Q20.
Which of the following is not an insurable risk?
Q21.
It is essential that the person insuring must be the one who will suffer in the event of a loss.
Q22.
Which of the following is not an advantage of insurance?
Q23.
Which of the following are disadvantages of insurance?
Q24.
Why do insurance companies charge a relatively low premium?
Q25.
Which of the following is/are the primary functions of insurance?
Q26.
Which of the following is not a secondary function of insurance?
Q27.
Which of the following is not a function of insurance?
Q28.
Which of the following is not a life insurance?
Q29.
Which of the following statements is incorrect about endowment?
Q30.
In which of the following life insurances, there are options to have a return of premium option?
Q31.
The advantage of a whole life insurance is/are:
Q32.
Which of the following is not a disadvantage of whole life insurance?
Q33.
________ is mainly devised to create an estate for the heirs of the policy holders.
Q34.
________ is a savings plan with the added advantage of life cover and regular cash inflow.
Q35.
________ not only cover the life of the parent; but also ensure that in case of their death, the child gets the sum assured.
Q36.
In which of the following plans, an individual invests in till he retires?
Q37.
Which of the following annuity options are available to an individual in pension plans?
Q38.
A financial product that offers one life insurance as well as investment in the financial markets is:
Q39.
Which of the following plans leave the asset allocation decision in the hands of the investors themselves?
Q40.
Which charges are associated with ULIP?
Q41.
Which of the following plans can be a ULIP?
Q42.
Which of the following statements about unit linked children’s plan is not true?
Q43.
In unit linked pension plans, there is flexibility for withdrawing money even while one is not retired.
Q44.
________ is a pure risk cover contract.
Q45.
Which of the following plans offers the cheapest form of life insurance?
Q46.
Which of the following plans do not accumulate a cash value?
Q47.
Which of the following plans do not have any investment component?
Q48.
Which of the following factors is not associated with a term plan?
Q49.
In a term cover, if the policy holder does not die before the term is up, he does not receive anything.
Q50.
Which of the following statements is/are not true with respect to loan cover policy?
Q51.
When was General Insurance business nationalized?
Q52.
Which of the following is the Indian Reinsurer?
Q53.
Which of the following is not covered under insurance of property?
Q54.
Which of the following is covered under property insurance?
Q55.
Mr. A destroys his own property to get insurance benefit. Will the insurance company honor his claim?
Q56.
Health insurance can only protect the policy holder.
Q57.
________ will protect the policy holder and his/ her family against any financial contingency arising due to a medical emergency.
Q58.
In medi-claim, medical expenses incurred during period of ___ days prior to and period of ___ days after hospitalisation are covered.
Q59.
Medi-claim provides reimbursement for which of the following?
Q60.
Which of the following statement/s is/are true about health insurance? 1. Only group insurance is available to protect the policy holder and his/her family against any financial contingency 2. Cashless facility is available after appointment of third party administrators
Q61.
Critical illness insurance is a form of life insurance.
Q62.
In critical illness insurance, payment is conditional upon minimum survival period of:
Q63.
In a medi claim policy, the existing diseases of the policy holder while taking a cover are also covered.
Q64.
Insurance that offers the employer protection in the event of the untimely death or disability of a key person is:
Q65.
Which of the following is covered under keyman insurance?
Q66.
Any person can be a key person who has specialized skills and whose loss can cause a financial strain on the company he works in.
Q67.
The insurance of motor vehicles against damage is _________ and the insurance of the third party liability arising out of the use of motor vehicles in public places is ________.
Q68.
Which of the following is covered under motor insurance?
Q69.
Which of the following is covered under personal accident insurance?
Q70.
Liability insurance covers liabilities arising under
Q71.
Human life value is the:
Q72.
Which method of life insurance need analysis is typically only used for families with working family members?
Q73.
Which of the following is not required for calculation of human life value under human life approach?
Q74.
________is a method of calculating how much life insurance is required by an individual/ family to cover their needs.
Q75.
Which of the following is not a cash need under need based approach?
Q76.
Which of the following is not a special need under the need based approach?
Q77.
Which of the following is not a need category under need based approach?
Q78.
_______ is a method of calculating the amount of life insurance a family will need based on the financial loss that family would incur if the insured were to pass away today.
Q79.
Human life value of any person can be measured by capitalized value of that part of his income or income earning capacity devoted or meant for dependants arising out of economic forces incorporated within his being, like character , health, education, training, experience and ambition.
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