INSURANCE QUIZ

1. Which of the following does not come under Insurance sector in India?
a) Life Insurance
b) General Insurance
c) Health Insurance
d) Property Insurance
e) Mental Disability Insurance

2. Which of the following is not a negotiable instrument as per the Negotiable Instruments Act, 1881?
a) Promissory note
b) Bill of exchange
c) Cheque
d) Hundi
e) All of the above

3. Which of the following is a tax on domestic production?
a) Corporation Tax
b) Wealth Tax
c) Income Tax
d) Excise Tax
e) Customs Duty

4. The document which lays down the terms of the contract of the Insurance is called the _________.
a) Subject matter
b) Policy
c) Premium
d) Insurance Interest
e) None of these

5. Risk is evaluated on the basis of __________ theory.
a) Variability
b) Contingency
c) Probability
d) All of the above
e) None of these

6. __________ means to make good the actual loss and nothing more than the actual loss.
a) Indemnity
b) Subrogation
c) Contribution
d) Capital risk
e) None of these

7. Motor Insurance provides Insurance cover to ___________.
a) Private vehicles
b) Commercial vehicles
c) Motorcycles
d) All of the above
e) None of these

8. Expanded form of PPL policy is ___________.
a) Policy Procedure of Interest
b) Policy Port of Interest
c) Policy Proof of Interest
d) Port Proof of Interest
e) None of these

9. Fire Insurance came into existence after the Great Fire of the London in __________.
a) 1666
b) 1866
c) 1686
d) 1687
e) None of these

10. __________ means Insuring a risk with two or more Insurers and the total sum Insured also exceeds the actual value of the subject matter.
a) Reinsurance
b) General Insurance
c) Single Insurance
d) Double Insurance
e) None of these

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