1. ______ is the money charged for the insurance coverage reflecting expectation of loss.
a) Standard Risk
b) Release
c) Penalty
d) Premium
e) Policy Lapse
2. Which of the following risk is the potential for a person to experience illness, injury or other physical or psychological impairment, whether temporary or permanent?
a) Market Risk
b) Standard Risk
c) Preferred Risk
d) Global Risk
e) Morbidity Risk
3. Situation in which the same risk is insured by two overlapping but independent insurance policies. It is lawful to obtain ______, and the insured can make claim to both insurers in the event of a loss because both are liable under their respective policies.
a) Single Insurance
b) Reinsurance
c) Double insurance
d) Void-insurance
e) Co- insurance
4. _______ is a form of permanent life Insurance policy.
a) Term Life Insurance Policy
b) Whole Life Insurance Policy
c) Dual Insurance policy
d) Variable Life Insurance Policy
e) Universal Life Insurance Policy
5. Where is the Headquarter of state-owned life Insurance Corporation of India?
a) New Delhi
b) Chennai
c) Kolkata
d) Lucknow
e) Mumbai
6. Special investigation is necessary if death is occur within two years from ________.
a) the date of commencement
b) the date of revival
c) either of the two
d) the date of maturity
e) None of these
7. The life insurance corporation of India does not have its foreign units in which of the following countries?
a) US
b) Sri Lanka
c) Fiji
d) Afghanistan
e) None of these
8. The amount of Insurance depends upon ________.
a) The peril
b) The risk
c) Neither
d) Both
e) None of these
9. In a Life Insurance contract, the beneficiary may be the ________.
a) The policy holder
b) The life insured
c) The depends of the life insured
d) All of the above
e) None of these
10. Life Insurance is better than other avenues of savings in respect of _________.
a) Marketability
b) Liquidity
c) Transferability
d) All of the above
e) None of these
Answers: 1. D, 2. E, 3. C, 4. D, 5. E, 6. C, 7. D, 8. D, 9. D, 10. D
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