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
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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?
1 answers
|
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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
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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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