INSURANCE QUIZ

1. ___________ is the value at which the life insurer has purchased or acquired its assets.
a) Book value
b) Discounted present value
c) Market value
d) Compounded future value
e) Depreciated value

2. The term 'Front-end-load' is associated with ____________.
a) Term Deposits
b) Term Loans
c) Insurance Policies
d) Mutual Funds
e) Government Securities

3. When an insurer passes some part of or all risks to another insurer called Reinsurer, this type of insurance is called?
a) Self Insurance
b) Dual Insurance
c) Void Insurance
d) Two Fold Insurance
e) Re-insurance

4. An agency which holds electronic records of insurance policies issued to individuals is known as _____________.
a) Insurance Depository
b) Insurance Attorney
c) Stock Insurance Company
d) Insurance Actuary
e) Insurance Repository

5. A life insurance policy which provides coverage at a fixed rate of payments for a limited period of time is known as ___________.
a) Whole Life Insurance
b) Variable Universal Life Insurance
c) Term Life Insurance
d) Universal Life Insurance
e) Permanent Life Insurance

6. In India the minimum capital requirement for setting up of Health Insurance Company is ____________.
a) 250 cr
b) 500 cr
c) 50 cr
d) 150 cr
e) 100 cr

7. An 'Insurance Repository' is a facility ____________.
a) Electronic form
b) Safe custody
c) Paper form
d) Material form
e) Physical form

8. As per the recent amendments to the Insurance Act, a policy of life Insurance cannot he wiled in question on any ground whatsoever after the expiry of ___________ from the date of issuance of the policy.
a) six year
b) four year
c) three year
d) one year
e) five year

9. In India all Asset Managemerit Companies are regulated by which of the following?
a) GIC
b) ROC
c) ICAI
d) SEBI
e) PMC

10. ____________ refers to a hospital/health care provider enlisted by an insurer to provide medical services to an insured on payment by a cashless faculty.
a) Day care centre
b) Network provider
c) Third Party Administrator
d) Domiciliary
e) None of these

Answers:  1.A - 2.D - 3.E - 4.E - 5.C - 6.E - 7.A - 8.C - 9.D - 10.B