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Principles of Insurance
51 Docs | 49 Videos | 14 Tests
NIACL (New India Insurance) Mock Test Series
10 Tests
Insurance for SSS 3
Insurance for SSS 2
Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi)
13 Videos
Quantitative Aptitude for Competitive Exams
108 Docs | 204 Videos | 112 Tests
Current Affairs & General Knowledge
504 Docs | 134 Videos | 31 Tests
General Intelligence and Reasoning for Competitive Exams
66 Docs | 110 Videos | 82 Tests
Lucent for GK
768 Docs | 434 Videos | 457 Tests
General Science for Competitive Exams
356 Docs | 169 Tests
English Language & Comprehension for Competitive Exams
55 Docs | 97 Videos | 55 Tests
Computer Awareness for Competitve Exams
51 Docs | 30 Videos | 82 Tests
Mock Test Series for LIC AAO
10 Tests
Mock Test Series for ESIC MTS
10 Tests
Mock Test Series for NIACL AO
10 Tests
Mock Test Series for PFRDA Assistant Manager
10 Tests
Mock Test Series for NIACL Assistant
10 Tests
Mock Test Series for ESIC UDC
10 Tests
Mock Test Series for LIC ADO
10 Tests
Mock Test Series for ESIC Stenographer
10 Tests
Mock Test Series for LIC HFL Assistant
10 Tests
Mock Test Series for LIC HFL Assistant Manager
10 Tests
Mock Test Series for ESIC SSO
10 Tests
Mock Test Series for IRDAI Assistant Manager
10 Tests
Indian Economy for UPSC CSE
338 Docs | 136 Videos | 146 Tests
Famous Books for UPSC Exam (Summary & Tests)
968 Docs | 521 Videos | 446 Tests
Advanced Corporate Accounting
52 Docs | 22 Tests
Industrial Laws
46 Docs | 54 Videos | 18 Tests
Indian Economy for State PSC Exams
261 Docs | 118 Videos | 136 Tests
SBI PO Prelims & Mains - Documents, Videos & Tests
785 Docs | 519 Videos | 254 Tests
RBI Grade B Phase 1 Preparation
548 Docs | 250 Videos | 160 Tests
Auditing and Assurance for CA Intermediate
17 Docs | 32 Videos
Accounting for CA Intermediate
34 Docs | 18 Videos
Bank Awareness for Bank Exams
164 Docs | 59 Videos | 25 Tests
Crash Course for CA Intermediate
147 Videos
Commerce for SSS 2
Physical and Health Education for Primary 5
Business Studies for JSS 2
Docs & Videos View All
Characteristics - Reinsurance - Concept of Insurance, Principles of Insurance, B com
6107 Views
Insurance Services
3743 Views
Role of Insurance in Economic Development - Insurance Business and Market, Principles of Insurance
2924 Views
Nature & Evolution of Insurance - Risk management And Insurance, Principles of Insurance, B com
2013 Views
Characteristics & Objectives of Reinsurance, Principles of Insurance
920 Views
Introduction to Insurance, Principles of Insurance
697 Views
Benefit of Insurance - Concept of Insurance, Principles of Insurance, B com
586 Views
Life Insurance - Insurance Terminology And Insurance Customers, Principles of Insurance, B com
483 Views
Principle of Insurable Interest - Insurance Contract, Principles of Insurance
400 Views
Different Type of Insurance & Insurance Pooling - Principles of Insurance, B com
392 Views
Basics of Insurance - Risk Management and Insurance, Principles of Insurance
366 Views
Concept of Pooling in Insurance - Risk Management and Insurance, Principles of Insurance
365 Views
Nature of Insurance - Risk Management and Insurance, Principles of Insurance
340 Views
Principals of Insurance
336 Views
Principle of Insurable Interest - Insurance Contract - Principles of Insurance, B com
327 Views
Benefits of Insurance, Principles of Insurance
294 Views
BVP MBA General Insurance and Reinsurance (GIR) 4th Semester Question Papers (BVIMR)
293 Views
Type of Reinsurance - Concept of Insurance, Principles of Insurance, B com
283 Views
BVP MBA General Insurance and Reinsurance (GIR) 3rd Semester 2013 Question Papers (BVIMR)
252 Views
Principle of Indemnity - Insurance Contract, Principles of Insurance
239 Views
Non Life Insurance - Insurance Terminology And Insurance Customers, Principles of Insurance, B com
235 Views
Importance of Insurance - Risk Management and Insurance, Principles of Insurance
233 Views
Life Insurance, Principles of Insurance
224 Views
Different types of Insurance - Risk Management and Insurance, Principles of Insurance
221 Views
Principle of Subrogation - Insurance Contract, Principles of Insurance
218 Views
Evolution of Insurance - Risk Management and Insurance, Principles of Insurance
210 Views
Reinsurance, Principles of Insurance
201 Views
Importance of Insurance - Risk management And Insurance, Principles of Insurance, B com
201 Views
Basics of Insurance - Risk management And Insurance, Principles of Insurance, B com
197 Views
Double Insurance, Principles of Insurance
195 Views
Marine Insurance - General insurance product, Principles of Insurance
194 Views
LIC products - Insurance Products, Principles of Insurance
188 Views
Premium calculation - Concept of Insurance, Principles of Insurance
174 Views
Principal of Contribution - Insurance Contract, Principles of Insurance
172 Views
Important Concept - Reinsurance - Concept of Insurance, Principles of Insurance, B com
170 Views
Insurance contracts, Principles of Insurance
162 Views
Non Life Insurance, Principles of Insurance
159 Views
Put as insurance
148 Views
Operations of Insurance Companies - Insurance Business And Market, Principles of Insurance, B com
147 Views
Double cover- Reinsurance - Concept of Insurance, Principles of Insurance, B com
144 Views
Peril - Concept of Insurance, Principles of Insurance, B com
139 Views
Personal Accident Insurance Policy - General insurance product, Principles of Insurance
134 Views
Disclosure - Insurance Contract, Principles of Insurance
134 Views
Understanding Insurance Customers, Principles of Insurance
133 Views
Insurance Regulator - Insurance Business and Market, Principles of Insurance
120 Views
Car insurance Cover Note - Concept of Insurance, Principles of Insurance, B com
120 Views
Operations of Insurance Companies - Insurance Business and Market, Principles of Insurance
114 Views
Term Plan - Life insurance product, Principles of Insurance
114 Views
Insurance Regulator - Insurance Business And Market, Principles of Insurance, B com
113 Views
Annuities - Life insurance product, Principles of Insurance
104 Views
Workers' Compensation insurance - Concept of Insurance, Principles of Insurance
103 Views
Insurance Specialists - Insurance Business And Market, Principles of Insurance, B com
94 Views
Understanding Insurance Customers - Principles of Insurance, B com
89 Views
Life Insurance & types of Life Insurance
10 Views
What is Insurance?
10 Views
Insurance - 1
9 Views
Insurance - 2
8 Views
Insurance - SSS1 Commerce
2 Views
Crop Insurance
1 Views
Insurance (Types of Insurance) - SSS1 Commerce
1 Views
Tests View All
Questions View All
What is difference between insurance and assurance?
3 answers
In case of insurance of a property the insurable interset of the insured in the subject matter of the insurance must exist?
2 answers
Bank assurance isa)an insurance scheme to insure bank depositsb)an insurance scheme exclusively for bank employeesc)a composite financial service offering both bank and insurance productsd)a bank deposit scheme exclusively for employees of insurance companiesCorrect answer is option 'C'. Can you explain this answer?
2 answers
Direction: Read the following text and answer the questions that follow:Mr. Shailesh owns an oil factory in Rajasthan. Due to illness of his parents living in the UK, he had to go to UK. There he joined a job. He asked his friend Mr. Vijay Arora to take charge of his company till he returns to India. Mr. Vijay took a fire insurance policy for this factory from Sokhim Free Insurance Pvt. Ltd. A month before he got the fire insurance policy, he received a notice from electricity department to get the wiring of the company repaired. He didn’t inform the insurance company about it. He didn’t get the wiring of the factory repaired. After five months of taking the policy, the factory caught fire due to faulty wiring.“Mr. Vijay took a fire insurance policy for this factory from Zokhim Free Insurance Pvt. Ltd....”.Q. Which principle of insurance is relevant here?a)Insurable interestb)Indemnityc)Good faithd)ContributionCorrect answer is option 'A'. Can you explain this answer?
2 answers
Name the General Insurance Company,that launched first-of-its-kind ‘Trip Protector’ policy in India?a)National Insurance Co. Ltdb)New India Assurance Co. Ltdc)Bajaj Allianz General Insuranced)HDFC ERGO General Insurance Co. Ltde)None of theseCorrect answer is option 'D'. Can you explain this answer?
2 answers
Which insurance company operates in various domains such as general insurance, insurance claims management, reinsurance, and investment management?a)IFFCO TOKIO General Insuranceb)New India Assurancec)ICICI Lombard General Insuranced)HDFC Standard Life InsuranceCorrect answer is option 'C'. Can you explain this answer?
1 answers
What is the difference between reinsurance and double insurance?a)Reinsurance involves transferring risk to another insurance company, while double insurance involves purchasing multiple policies for the same subject.b)Reinsurance is more common than double insurance.c)Reinsurance is used for catastrophic events, while double insurance is used for individual risks.d)Reinsurance is more expensive than double insurance.Correct answer is option 'A'. Can you explain this answer?
1 answers
Which of the following Acts necessitated the presence of insurable interest in insurance contracts?a)The Gaming Act, 1845b)The Life Assurance Act, 1774c)The Marine Insurance Act, 1745d)The Fire Insurance Act, 1806Correct answer is option 'B'. Can you explain this answer?
1 answers
2. "In all types of insurance, insured must have insurable interest both at the time of insurance and at the time of loss." Do you agree?
1 answers
expain life assurance fund Related: Valuation Balance Sheet - Insurance Company accounts, Advanced Corporate Accounting?
1 answers
reinsurance premium Related: Final accounts of life Insurance Companies - Advanced Corporate Accounting?
1 answers
assurance and insurance difference Related: Chapter Notes - Business Services?
1 answers
Which insurance company has its own distribution channel called "IFFCO-TOKIO Insurance Services Ltd"?a)ICICI Lombard General Insuranceb)IFFCO TOKIO General Insurancec)HDFC Standard Life Insuranced)New India AssuranceCorrect answer is option 'B'. Can you explain this answer?
1 answers
In which type of insurance must insurable interest exist both at the time of effecting the policy and at the time of claim?a)Marine insuranceb)Fire insurancec)Life insuranced)Accident insuranceCorrect answer is option 'B'. Can you explain this answer?
1 answers
Which insurance company launched E@Secure, a Cyber Insurance Policy for individuals.a)HDFC ERGO General Insurance Companyb)Bajaj Allianz General Insurancesc)Star Health and Allied Insuranced)Apollo Munich Health InsuranceCorrect answer is option 'A'. Can you explain this answer?
1 answers
• price of a car is R$ 4,50,000. It was insured to 90% of its price accident and the insurance company paid 90% of the insuran price of the car and the amount received?
1 answers
Which of the following points are correct with respect to the recent (in Jan’22) IRDAI steps towards Motor, Property Insurances & surety Norms?A) IRDAI set up motor insurance & Property Insurances in ‘Institute of Insurance & Risk Management (IIRM) & National Insurance Academy (NIA) to promote loss prevention in the insurance Industry.B) New Surety norms – IRDAI (Surety Insurance Contracts) Guidelines, 2022 was set up by IRDAI under the section 14 (2) (i) of IRDA Act, 1999.C) IRDAI also decided to form an advisory committee under the chairmanship of the NIA director to develop standard survey/inspection.a)Only B & Cb)Only Ac)Only Bd)Only A & Ce)All A, B & CCorrect answer is option 'E'. Can you explain this answer?
1 answers
Which among the following defines the model in which the banks sell the insurance products of their partner insurance company?a)Bancassuranceb)Banking Assurancec)Bank Assuranced)Insurance Bankinge)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
1 answers
Which of the following launched a comprehensive health insurance plan namely 'Arogya Supreme'?a)United India Insuranceb)SBI General Insurancec)New India Assuranced)ICICI Lombard General Insurancee)Reliance General InsuranceCorrect answer is option 'B'. Can you explain this answer?
1 answers
The ___________________ is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.a)Life Insurance Corporation of Indiab)General Insurance Corporation of Indiac)Insurance Regulatory and Development Authority of Indiad)New India Assurance Co. LtdCorrect answer is option 'C'. Can you explain this answer?
1 answers
Airtel Payments Bank has partnered with which of the following to offer comprehensive car insurance to the payments bank’s customers?a)Bajaj Allianz General Insuranceb)IFFCO Tokio General Insurancec)Bharti AXA General Insuranced)United India Insurancee)New India AssuranceCorrect answer is option 'C'. Can you explain this answer?
1 answers
What is the primary function of the Principle of Insurable Interest in insurance?a)To regulate the legal form of insurance contractsb)To ensure that anyone can insure anything they see aroundc)To prevent gaming and wagering in insurance contractsd)To determine the premium amount for insurance policiesCorrect answer is option 'C'. Can you explain this answer?
1 answers
What does insurable interest mean in the context of insurance?a)The interest in insuring a valuable itemb)The interest in making a profit from insurance policiesc)The legal financial interest of a person in the subject matter of insuranced)The interest in purchasing insurance for any reasonCorrect answer is option 'C'. Can you explain this answer?
1 answers
From the information given below, you are to find out the amount to be appropriated for Reserve for unexpired risk in fire insurance: Premium received during the year ended 31.03.2021 Rs.12,00,000. Reinsurance premiums Rs.3,00,000; Bonus in reduction of premium (not yet adjusted in premiums) Rs.50,000.?
1 answers
Which of the following insurance companies has partnered with SatSure Analytics for Satellite-based Crop monitoring and analysis?a)General Insurance Companyb)Reliance General Insurancec)Cholamandalam General Insuranced)Acko General Insurancee)New India Assurance Company LimitedCorrect answer is option 'B'. Can you explain this answer?
1 answers
Chapters View All
Insurance Terminology And Insurance Customers | Principles of Insurance
6 Docs | 7 Videos | 2 Tests
Insurance industry | Bank Awareness for Bank Exams
4 Docs | 2 Tests
Insurance Products | Principles of Insurance
14 Docs | 9 Videos | 3 Tests
Insurance Contract | Principles of Insurance
6 Docs | 8 Videos | 2 Tests
Insurance industry | SBI PO Prelims & Mains - Documents, Videos & Tests
4 Docs | 2 Tests
Insurance in India | Famous Books for UPSC Exam (Summary & Tests)
1 Docs | 1 Tests
Insurance in India | Indian Economy for State PSC Exams
1 Docs | 1 Tests
Insurance in India | Indian Economy for UPSC CSE
2 Docs | 2 Videos | 1 Tests
Insurance in India | RBI Grade B Phase 1 Preparation
1 Docs | 2 Videos | 1 Tests
Concept of Insurance | Principles of Insurance
11 Docs | 9 Videos | 3 Tests
Insurance in India | Indian Economy for State PSC Exams
1 Docs | 2 Videos | 1 Tests
Insurance Company accounts | Advanced Corporate Accounting
4 Docs | 2 Tests
Insurance in India | Famous Books for UPSC Exam (Summary & Tests)
1 Docs | 2 Videos | 1 Tests
Insurance in India | Indian Economy for UPSC CSE
1 Docs | 1 Tests
Risk Management And Insurance | Principles of Insurance
7 Docs | 11 Videos | 2 Tests
Insurance Business And Market | Principles of Insurance
7 Docs | 5 Videos | 2 Tests
Employees State Insurance Act(1948) | Industrial Laws
6 Docs | 6 Videos | 2 Tests
Insurance Claims for Loss of Stock and Loss of Profit | Accounting for CA Intermediate
2 Docs | 1 Videos
Paper 6- Auditing and Assurance (Group 2) | Crash Course for CA Intermediate
12 Videos
Principles of Insurance
51 Docs | 49 Videos | 14 Tests
NIACL (New India Insurance) Mock Test Series
10 Tests
Insurance for SSS 3
Insurance for SSS 2
Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi)
13 Videos
Quantitative Aptitude for Competitive Exams
108 Docs | 204 Videos | 112 Tests
Current Affairs & General Knowledge
504 Docs | 134 Videos | 31 Tests
General Intelligence and Reasoning for Competitive Exams
66 Docs | 110 Videos | 82 Tests
Lucent for GK
768 Docs | 434 Videos | 457 Tests
General Science for Competitive Exams
356 Docs | 169 Tests
English Language & Comprehension for Competitive Exams
55 Docs | 97 Videos | 55 Tests
Computer Awareness for Competitve Exams
51 Docs | 30 Videos | 82 Tests
Mock Test Series for LIC AAO
10 Tests
Mock Test Series for ESIC MTS
10 Tests
Mock Test Series for NIACL AO
10 Tests
Mock Test Series for PFRDA Assistant Manager
10 Tests
Mock Test Series for NIACL Assistant
10 Tests
Mock Test Series for ESIC UDC
10 Tests
Mock Test Series for LIC ADO
10 Tests
Mock Test Series for ESIC Stenographer
10 Tests
Mock Test Series for LIC HFL Assistant
10 Tests
Mock Test Series for LIC HFL Assistant Manager
10 Tests
Mock Test Series for ESIC SSO
10 Tests
Mock Test Series for IRDAI Assistant Manager
10 Tests
Indian Economy for UPSC CSE
338 Docs | 136 Videos | 146 Tests
Famous Books for UPSC Exam (Summary & Tests)
968 Docs | 521 Videos | 446 Tests
Advanced Corporate Accounting
52 Docs | 22 Tests
Industrial Laws
46 Docs | 54 Videos | 18 Tests
Indian Economy for State PSC Exams
261 Docs | 118 Videos | 136 Tests
SBI PO Prelims & Mains - Documents, Videos & Tests
785 Docs | 519 Videos | 254 Tests
RBI Grade B Phase 1 Preparation
548 Docs | 250 Videos | 160 Tests
Auditing and Assurance for CA Intermediate
17 Docs | 32 Videos
Accounting for CA Intermediate
34 Docs | 18 Videos
Bank Awareness for Bank Exams
164 Docs | 59 Videos | 25 Tests
Crash Course for CA Intermediate
147 Videos
Commerce for SSS 2
Physical and Health Education for Primary 5
Business Studies for JSS 2
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6107 views
Insurance Services
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Importance of Insurance - Risk Management and Insurance, Principles of Insurance
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Principle of Subrogation - Insurance Contract, Principles of Insurance
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Evolution of Insurance - Risk Management and Insurance, Principles of Insurance
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Reinsurance, Principles of Insurance
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Annuities - Life insurance product, Principles of Insurance
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Insurance - 1
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Insurance - SSS1 Commerce
2 views
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Test: Insurance Products - 3
10 Questions | 10 min
Test: Insurance Industry - 2
10 Questions | 10 min
Test: Insurance Products - 1
10 Questions | 10 min
Test: Insurance Industry - 1
10 Questions | 10 min
Test: Insurance Company Accounts- 2
10 Questions | 10 min
Test: Concept of Insurance - 3
10 Questions | 10 min
Test: Insurance Terminology And Insurance Customers - 2
10 Questions | 10 min
Test: Insurance Terminology And Insurance Customers - 1
10 Questions | 10 min
Test: Concept of Insurance - 1
10 Questions | 10 min
Test: Concept of Insurance - 2
10 Questions | 10 min
Test: Insurance Business And Market - 2
10 Questions | 10 min
Test: Employees State Insurance Act(1948) - 1
10 Questions | 10 min
Test: Insurance Business And Market - 1
10 Questions | 10 min
Test: Insurance Contract - 2
10 Questions | 10 min
Test: Insurance Products - 2
10 Questions | 10 min
Test: Insurance Contract - 1
10 Questions | 10 min
Test: Insurance Company Accounts - 1
10 Questions | 10 min
Test: Risk Management And Insurance - 2
10 Questions | 10 min
Test: Risk Management And Insurance - 1
10 Questions | 10 min
Ramesh Singh Test : Insurance In India
10 Questions | 12 min
Test: Employees State Insurance Act(1948) - 2
10 Questions | 10 min
NIACL Mock Test - 10
100 Questions | 60 min
NIACL Mock Test - 4
100 Questions | 60 min
NIACL Mock Test - 2
100 Questions | 60 min
NIACL Mock Test - 9
100 Questions | 60 min
NIACL Mock Test - 7
100 Questions | 60 min
NIACL Mock Test - 3
100 Questions | 60 min
NIACL Mock Test - 1
100 Questions | 60 min
NIACL Mock Test - 8
100 Questions | 60 min
NIACL Mock Test - 5
100 Questions | 60 min
NIACL Mock Test - 6
100 Questions | 60 min
Test: Five Year Plans
10 Questions | 10 min
Test: Filling in the Blank - 1
30 Questions | 20 min
Test: Nobel Prize Winners From India
10 Questions | 10 min
Test: Filling in the Blank - 2
30 Questions | 20 min
Test: Cytology
20 Questions | 15 min
Test: Central Bureau of Investigation
10 Questions | 10 min
Test: Behaviour of Gases
20 Questions | 25 min
Test: Famous Sites - World
20 Questions | 25 min
Test : Parliament 3
10 Questions | 10 min
Test: Designated SAARC Years
20 Questions | 25 min
Test: National Integration
10 Questions | 10 min
Test: Economic Reforms In India
20 Questions | 25 min
Test: Combating Terrorism
10 Questions | 10 min
Test: Foreign Policy
10 Questions | 10 min
Test- Governor -2
10 Questions | 10 min
Test: Important Days India & World
20 Questions | 25 min
Test: Internal Structure of the Earth
20 Questions | 25 min
Test: International Years
20 Questions | 25 min
Test: Industry
20 Questions | 25 min
Insurance Terminology And Insurance Customers | Principles of Insurance
6 Docs | 7 Videos | 2 Tests
Insurance industry | Bank Awareness for Bank Exams
4 Docs | 2 Tests
Insurance Products | Principles of Insurance
14 Docs | 9 Videos | 3 Tests
Insurance Contract | Principles of Insurance
6 Docs | 8 Videos | 2 Tests
Insurance industry | SBI PO Prelims & Mains - Documents, Videos & Tests
4 Docs | 2 Tests
Insurance in India | Famous Books for UPSC Exam (Summary & Tests)
1 Docs | 1 Tests
Insurance in India | Indian Economy for State PSC Exams
1 Docs | 1 Tests
Insurance in India | Indian Economy for UPSC CSE
2 Docs | 2 Videos | 1 Tests
Insurance in India | RBI Grade B Phase 1 Preparation
1 Docs | 2 Videos | 1 Tests
Concept of Insurance | Principles of Insurance
11 Docs | 9 Videos | 3 Tests
Insurance in India | Indian Economy for State PSC Exams
1 Docs | 2 Videos | 1 Tests
Insurance Company accounts | Advanced Corporate Accounting
4 Docs | 2 Tests
Insurance in India | Famous Books for UPSC Exam (Summary & Tests)
1 Docs | 2 Videos | 1 Tests
Insurance in India | Indian Economy for UPSC CSE
1 Docs | 1 Tests
Risk Management And Insurance | Principles of Insurance
7 Docs | 11 Videos | 2 Tests
Insurance Business And Market | Principles of Insurance
7 Docs | 5 Videos | 2 Tests
Employees State Insurance Act(1948) | Industrial Laws
6 Docs | 6 Videos | 2 Tests
Insurance Claims for Loss of Stock and Loss of Profit | Accounting for CA Intermediate
2 Docs | 1 Videos
Paper 6- Auditing and Assurance (Group 2) | Crash Course for CA Intermediate
12 Videos
Ab Insurance
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Life Insurance Corporati
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Insurance Place
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Divya Insurance Insuranc
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Health Insurance Insuran
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Insurance
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General Insurance
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Insurance I
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Ng Insurance
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Policymal Insurance
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Laudable Insurance
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Life Insurance
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Insurance Funda
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Health Insurance
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Insurance Tata
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Sks Insurance
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Vehicle Insurance
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Insurance Services
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Insurance Vickmint
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Harsini Insurance
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Insurance Market
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Insurance Varuntrucking
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Insurance Healthway
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Rk Insurance
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Bharat Insurance
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Insurance Solutions
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Jaika Insurance
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Eswar Insurance
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Insurance Vigilance
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Motto Insurance
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Vin's Insurance
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Esp Insurance
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Pratik Insurance
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Thetiara Insurance
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Insurance Mart
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Abdullah Insurance
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Rajug Insurance
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Allindian Insurance
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Insurance Agent
Student of EduRev
Insurance Help
Student of EduRev
Insurance Uniben
Student of EduRev
Insurance Point
Student of EduRev
Car Insurance
Student of EduRev
What is difference between insurance and assurance?
3 answers
In case of insurance of a property the insurable interset of the insured in the subject matter of the insurance must exist?
2 answers
Bank assurance isa)an insurance scheme to insure bank depositsb)an insurance scheme exclusively for bank employeesc)a composite financial service offering both bank and insurance productsd)a bank deposit scheme exclusively for employees of insurance companiesCorrect answer is option 'C'. Can you explain this answer?
2 answers
Direction: Read the following text and answer the questions that follow:Mr. Shailesh owns an oil factory in Rajasthan. Due to illness of his parents living in the UK, he had to go to UK. There he joined a job. He asked his friend Mr. Vijay Arora to take charge of his company till he returns to India. Mr. Vijay took a fire insurance policy for this factory from Sokhim Free Insurance Pvt. Ltd. A month before he got the fire insurance policy, he received a notice from electricity department to get the wiring of the company repaired. He didn’t inform the insurance company about it. He didn’t get the wiring of the factory repaired. After five months of taking the policy, the factory caught fire due to faulty wiring.“Mr. Vijay took a fire insurance policy for this factory from Zokhim Free Insurance Pvt. Ltd....”.Q. Which principle of insurance is relevant here?a)Insurable interestb)Indemnityc)Good faithd)ContributionCorrect answer is option 'A'. Can you explain this answer?
2 answers
Name the General Insurance Company,that launched first-of-its-kind ‘Trip Protector’ policy in India?a)National Insurance Co. Ltdb)New India Assurance Co. Ltdc)Bajaj Allianz General Insuranced)HDFC ERGO General Insurance Co. Ltde)None of theseCorrect answer is option 'D'. Can you explain this answer?
2 answers
Which insurance company operates in various domains such as general insurance, insurance claims management, reinsurance, and investment management?a)IFFCO TOKIO General Insuranceb)New India Assurancec)ICICI Lombard General Insuranced)HDFC Standard Life InsuranceCorrect answer is option 'C'. Can you explain this answer?
1 answers
What is the difference between reinsurance and double insurance?a)Reinsurance involves transferring risk to another insurance company, while double insurance involves purchasing multiple policies for the same subject.b)Reinsurance is more common than double insurance.c)Reinsurance is used for catastrophic events, while double insurance is used for individual risks.d)Reinsurance is more expensive than double insurance.Correct answer is option 'A'. Can you explain this answer?
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Which of the following Acts necessitated the presence of insurable interest in insurance contracts?a)The Gaming Act, 1845b)The Life Assurance Act, 1774c)The Marine Insurance Act, 1745d)The Fire Insurance Act, 1806Correct answer is option 'B'. Can you explain this answer?
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2. "In all types of insurance, insured must have insurable interest both at the time of insurance and at the time of loss." Do you agree?
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expain life assurance fund Related: Valuation Balance Sheet - Insurance Company accounts, Advanced Corporate Accounting?
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reinsurance premium Related: Final accounts of life Insurance Companies - Advanced Corporate Accounting?
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assurance and insurance difference Related: Chapter Notes - Business Services?
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Which insurance company has its own distribution channel called "IFFCO-TOKIO Insurance Services Ltd"?a)ICICI Lombard General Insuranceb)IFFCO TOKIO General Insurancec)HDFC Standard Life Insuranced)New India AssuranceCorrect answer is option 'B'. Can you explain this answer?
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In which type of insurance must insurable interest exist both at the time of effecting the policy and at the time of claim?a)Marine insuranceb)Fire insurancec)Life insuranced)Accident insuranceCorrect answer is option 'B'. Can you explain this answer?
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Which insurance company launched E@Secure, a Cyber Insurance Policy for individuals.a)HDFC ERGO General Insurance Companyb)Bajaj Allianz General Insurancesc)Star Health and Allied Insuranced)Apollo Munich Health InsuranceCorrect answer is option 'A'. Can you explain this answer?
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• price of a car is R$ 4,50,000. It was insured to 90% of its price accident and the insurance company paid 90% of the insuran price of the car and the amount received?
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Which of the following points are correct with respect to the recent (in Jan’22) IRDAI steps towards Motor, Property Insurances & surety Norms?A) IRDAI set up motor insurance & Property Insurances in ‘Institute of Insurance & Risk Management (IIRM) & National Insurance Academy (NIA) to promote loss prevention in the insurance Industry.B) New Surety norms – IRDAI (Surety Insurance Contracts) Guidelines, 2022 was set up by IRDAI under the section 14 (2) (i) of IRDA Act, 1999.C) IRDAI also decided to form an advisory committee under the chairmanship of the NIA director to develop standard survey/inspection.a)Only B & Cb)Only Ac)Only Bd)Only A & Ce)All A, B & CCorrect answer is option 'E'. Can you explain this answer?
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Which among the following defines the model in which the banks sell the insurance products of their partner insurance company?a)Bancassuranceb)Banking Assurancec)Bank Assuranced)Insurance Bankinge)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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Which of the following launched a comprehensive health insurance plan namely 'Arogya Supreme'?a)United India Insuranceb)SBI General Insurancec)New India Assuranced)ICICI Lombard General Insurancee)Reliance General InsuranceCorrect answer is option 'B'. Can you explain this answer?
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The ___________________ is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.a)Life Insurance Corporation of Indiab)General Insurance Corporation of Indiac)Insurance Regulatory and Development Authority of Indiad)New India Assurance Co. LtdCorrect answer is option 'C'. Can you explain this answer?
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Airtel Payments Bank has partnered with which of the following to offer comprehensive car insurance to the payments bank’s customers?a)Bajaj Allianz General Insuranceb)IFFCO Tokio General Insurancec)Bharti AXA General Insuranced)United India Insurancee)New India AssuranceCorrect answer is option 'C'. Can you explain this answer?
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What is the primary function of the Principle of Insurable Interest in insurance?a)To regulate the legal form of insurance contractsb)To ensure that anyone can insure anything they see aroundc)To prevent gaming and wagering in insurance contractsd)To determine the premium amount for insurance policiesCorrect answer is option 'C'. Can you explain this answer?
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What does insurable interest mean in the context of insurance?a)The interest in insuring a valuable itemb)The interest in making a profit from insurance policiesc)The legal financial interest of a person in the subject matter of insuranced)The interest in purchasing insurance for any reasonCorrect answer is option 'C'. Can you explain this answer?
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From the information given below, you are to find out the amount to be appropriated for Reserve for unexpired risk in fire insurance: Premium received during the year ended 31.03.2021 Rs.12,00,000. Reinsurance premiums Rs.3,00,000; Bonus in reduction of premium (not yet adjusted in premiums) Rs.50,000.?
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Which of the following insurance companies has partnered with SatSure Analytics for Satellite-based Crop monitoring and analysis?a)General Insurance Companyb)Reliance General Insurancec)Cholamandalam General Insuranced)Acko General Insurancee)New India Assurance Company LimitedCorrect answer is option 'B'. Can you explain this answer?
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