Professional Documents
Culture Documents
Risk Management and Insurance Solved MCQs Set 3
Risk Management and Insurance Solved MCQs Set 3
Risk Management and Insurance Solved MCQs Set 3
B. risk avoidance.
C. loss control.
D. risk transfer.
Answer: D
B. speculative risks.
C. personal risks.
D. other risks
Answer: A
B. risk identification.
C. insurance.
D. risk evaluation.
Answer: B
55. Which of the following steps in the risk management process helps in
determining sum
insured under policies?
A. risk identification.
B. risk retention.
C. risk transfer.
D. risk evaluation.
Answer: D
q
C. risk transfer.
c
D. insurance.
Answer: B
M
57. When the subject is partially lost by a peril insured against, it is called
___________
A. General average loss.
Answer: D
C. to earn interest
D. to earn a status
Answer: A
D. death of a person
Answer: D
B. Assured
C. Indemnity
D. Both a and b
Answer: D
62. The person who agrees to compensate the loss arisingfrom the risk is
called the ______
A. insurer
B. assurer
C. underwriter
Answer: D
A. assurance
B. agreement
C. indemnity
D. disagreement
Answer: A
q M
Answer: B
c
M
65. The proportion of the risk which the direct insurer holds on his own
account refers to
_______
A. Line
B. Retention
C. Retrocession
D. Ceding insurer
Answer: B
B. Retention
C. Retrocession
D. Cession
Answer: C
A. insurance of insurance
B. reinsurance of reinsurance
C. double insurance
D. reinsurance
Answer: A
68. When the same risk and subject matter is insured with more than one
insurer is called as _______
A. Double Insurance
o m
B. Over Insurance
.c
C. Reinsurance
te
a
D. Non-Proportional Reinsurance
q M
Answer: A
c
M
69. When the amount for which a subject matter is insured is more than its
actual value it is
called _____
A. Double Insurance
B. Over Insurance
C. Reinsurance
D. Non-Proportional Reinsurance
Answer: B
B. savings
D. profits
Answer: C
A. Society
B. Individual
C. Business
D. All of these
Answer: D
q M
Answer: C
c
M
73. For introduction of a group scheme, we need a ______
A. Large group of persons
C. Homogeneous group
D. Insured group
Answer: C
74. When choosing group life insurance, most groups buy _______
A. whole life insurance
Answer: B
75. On the death of the bread-earner, two losses occur in the family-one is
loss of human life
and the other _____
A. Loss of insurance
B. Loss of investment
Answer: D
o m
.c
te
a
q M
c
M