Vle Insurance Questions & Answers
1-Origins of modern insurance business can be traced to______.
True Answer : Lloyds
2-LIC of India Act was passed in June 1956 but it came into force on ________.
True Answer : Sept. 1, 1956
3-Every Insurer carrying on business in India shall invest and at all time keep invested an amount not exceeding ________ of their funds in other capital market Investments.
True Answer : 35%
4-On 20th January 1956 all Life Insurance Companies operating in India were taken over by ______ nominated custodians.
True Answer : 43
5-Which among the following is a method of Risk Transfer?
True Answer : Insurance
6- Which of the following statements is true?
True Answer : Insurance is a method of sharing the losses of a ?few? by ?many?
7-Insurance is a mechanism that helps reduce adverse consequences through ___________.
True Answer : Pooling, spreading and sharing of risk.
8-Employees State Insurance Act 1948 provides for:
True Answer : Medical aid to workers and their families working in Industries located in certain notified areas
9-Pradhan Mantri Jeevan Jyoti Bima Yojana is to benefit people in case of death. This scheme with a premium of Rs. 330 and coverage of Rs.2 lakh is available to persons in the age group of ______.
True Answer : 18 to 50
10- General Insurance means___________.
True Answer : All the above
11- An insurer is bound to furnish details regarding:
True Answer : All the above
12-How breach of Utmost Good faith occurs in a contract of insurance?
True Answer : Through both of the above
13-In property insurance Insurable interest must exist at the time of ________.
True Answer : Inception and Loss both
14-Generally a person seeking insurance writes a form to the insurer and applies for insurance. This form is known as _____.
True Answer : Proposal form
15-In any contract if there is an offer and acceptance, what is the third condition that must be fulfilled to make it a complete contract?
True Answer : Consideration
16-A fact that influences a prudent underwriter?s decision to accept the risk or not is known as ______.
True Answer : Material Fact
17-Gautama gets his tractor insured for a sum saying that the tractor is two years old. But in an accident, when the tractor becomes a total loss, the insurer comes to know that the said tractor was 10 years old. The insurer can reject the claim stating_____.
True Answer : Non-Disclosure of material fact
18-Indemnity means a guarantee or an assurance to put the insured in the same position in which he was immediately prior to the happening of the contingency insured. That means the insurer undertakes to ______.
True Answer : Make good the loss
19-Ram fell from a horse while riding and got his leg fractured. He kept lying on a wet land for a long time before he was taken to the hospital where he was diagnosed of pneumonia and he died of the pneumonia. The proximate cause was_______.
True Answer : Accidental fall from the horse
20-Conventionally Insurance has been classified in to ________.
True Answer : Life Insurance and General Insurance
21-Miscellaneous Insurance business means affecting insurance contracts on all kinds of risks other than _______.
True Answer : All the three above
22-Some insurance cannot be categorized as a standard group and are a part of ?Others? insurance like_____.
True Answer : All the above
23-All the Insurers in India are governed by the rules and regulations framed by IRDAI except_____.
True Answer : Postal Life Insurance
24-A Household insurance means _____.
True Answer : Both of the above
25-Life Insurance provides the products like_______.
True Answer : Both of the above
नोट : यदि कोई VLE इन्सुरेंस से कोई समस्या हो तो हमें कमेंट बॉक्स में बताये |
5 comments:
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Great post as always,
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Car Insurance Read
Thank you sir for giving this tremendous help. Please tell after clearing this test how should we move for insurance services
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