IC 01 - PRINCIPLES OF INSURANCE (Updated September : 2019) Covering Latest MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get question 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

What do you mean by dynamic risk
A) Risks resulting from changes in the economy.
B) loss from risk cannot be measured in monetary terms.
C) these risk are not under the control of the person
D) these risk affect only specific person
E) None of the above.

Which are the risks insurance can cover
A) Where the possibility of occurrence is uncertain.
B) where the possibility of occurrence is certain
C) where the possibility of occurrence is both uncertain & certain.
D) where the possibility of occurrence is only moderate
E) All of above

What does word possibility implies according to insurance
A) the word possibility implies risk
B) the word possibility implies uncertainty
C) the word possibility implies certainty
D) the word possibility implies moderate
E) the word possibility implies both certainty and uncertainty.

State the classification of Risk.
A) Catastrophic and important risk, Financial and Non- Financial Risk, Dynamic and Static Risk, Pure and Speculative Risks, Fundamental and particular
B) Catastrophic and important risk, Financial and Non- Financial Risk, moral and preventive Risk, Transfer and Non-Transfer Risks, Fundamental and Retain Risk
C) Financial and Non- Financial Risk, Catastrophic and important risk, advance technology and Non- technology Risks, Fundamental and particular
D) Planning & non-planning Risk, Financial and Non- Financial Risk, Dynamic and Static Risk, Pure and Speculative Risks, Fundamental and particular
E) None of this above

Differ Catastrophic and Financial Risk
A) Catastrophic risk are the risk where a single event of major magnitude leads to a significantly higher than usual number and/or amount of claim on an insurer./ financial risk are those risk that lead to losses that can be quantified or measured in monetary terms
B) Catastrophic risk those risk that lead to losses that can be quantified or measured in monetary terms./ financial risk are those are the risk where a single event of major magnitude leads to a significantly higher than usual number and/or amount of claim on an insurer.
C) All the Statement is partially wrong.
D) Catastrophic risk those risk that lead to losses that can be un- quantified or un-measured in monetary terms./ financial risk are those are the risk where a double event of major magnitude leads to a significantly higher than usual number and/or amount of claim on an insurer.

The proposer pays a consideration to the insurance company for bearing the risk on his behalf. What is this Consideration known as
A) Enrollment Fee.
B) Premium.
C) Installment
D) Bonus
E) None of the above.

If a person died in an accident then what kind of insurance does he can claim
A) Life insurance.
B) Car insurance
C) General insurance.
D) Motor insurance
E) None of above

Imagine if your car is damage due to any unexpected event then under what type of insurance policy does it comes under
A) Life insurance
B) Motor Insurance
C) General insurance
D) Unexpected insurance
E) Dream insurance.

Identify which of the statement comes under motor insurance .
A) If a person purchased a car and died inside the car
B) If a car is damaged in an accident
C) If a person died in a car accident
D) If a person save life of car
E) None of this above

State which of the following risk cover under motor insurance policy
A) The risk of damage to the car due to any unexpected event
B) The risk of untimely death due to some unexpected event
C) The Risk Theft of stock or money
D) All the statement are right
E) All the statement are wrong

The Process of finding other who exposed to a similar risk and are willing to share the risk is :-
A) Reduction
B) Avoidance/prevention
C) Transfer
D) Retention
E) All above

If a person buy a house which of the following risk may be incurred by the owner
A) The risk of damage to the owner house from fire or flood.
B) The risk of damage to the owner house from normal break down
C) The risk of damage to the owner house from been sold out.
D) All of the above
E) None of above

Before the risk can be managed they must _____________ & _________________
A) Identified & transfer
B) Analysed & reduction
C) Identified and analysed
D) Reduction & deduction
E) Increasing & decreasing .

By which of the follow ways risk can be managed .
A) Reduction of risk
B) Deduction of risk
C) Increasing of risk
D) Retention of risk
E) Option A and d

The first Phase of denitrification was introduce in the form of ___________________wherein premium to be charged shifted from trariff based to risk based
A) Freeing of rates from the tariff shackles
B) Freeing of rates from the tariff premium
C) Freeing of rates from the tariff loss
D) Freeing of rates from the tariff profit
E) Freeing of rates from the tariff risk

TAC tariff provide a schedule for ____________________________
A) Minimum Rates For different class of risk and extra premiums for special hazard
B) Maximum Rates For different class of risk and minimum premiums for special hazard
C) Minimum Rates For different class of risk and minimum premiums for special hazard
D) Maximum Rates For different class of risk and maximum premiums for special hazard
E) Minimum Rates For different class of risk and no premiums for special hazard

State the consistence of Insurance market
A) Companies, Intermediaries, specialists, Regulatory Bodies, Educational Institution
B) Only companies, Regulatory Bodies
C) Individual Agent, Corporate Agents, Banks, Brokers
D) IRDA, Insurance councils, Reinsurance
E) All above

Name the risk that is exclusive from small manufacturing sector under package product
A) Heavy Risk
B) Low risk
C) Moderate risk
D) Grouped Risk
E) Standard Risk

State the Necessity to buy General Insurance
A) In case of Motor insurance the law requires it
B) In case of lenders, such as banks required insurance of mortgaged goods as additional security
C) Trade practices-insurance is a condition in commercial contracts
D) All of them
E) None of them

Why does bank require insurance of the mortgaged goods as ______________ .
A) Additional Security
B) Mandatory security
C) Standard Security
D) Ensure Security
E) Option A and d

A customer is a person who ________________
A) Refuses To purchase goods or services
B) Buys goods or services a business has to offer
C) Receives monetary Benefits from the sale of goods
D) Produces goods and services for sales
E) Manufacture goods and services for sales

IC 01 - PRINCIPLES OF INSURANCE - HINDI (Revised Edition: 2016) Covering Latest 740 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get question 5 Final Papers combined of selected MCQs from all chapters as per exam module.

IC 11 - PRACTICE OF GENERAL INSURANCE (Updated September : 2019)  Covering Latest MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get question 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Choose the best answer: A) Insurance is an unseal industry in that a majority of its costs are both delayed & uncertain and it is critical, therefore , all insurers estimate the future liabilities as accurately as possible & put aside (reserve) money to meet them. B) The assets that an insurance company mountain to meet future claims or losses is called as technical reserves.
A) Both the statements are true
B) Only a is true
C) Only b is true
D) Both the statements are false
E) None of these

Standard underwriting process involves ____________. A) Receipt, Evaluation and Acceptance of, B) Consideration of terms and conditions. C) Pricing the risk. D) Managing exposure.
A) All the statements are true
B) Only a is true
C) Only b is true
D) None

Insurers follow two types of premium insurance style. They are ________________ and ___________________
A) Asset Liability Management and Modern Portfolio Theory
B) Asset Liability Management and Triangulation
C) Asset Liability Management and Modern Portfolio Theory
D) Asset Liability Management and Multiple Portfolio Theory
Answer: A

Choose the correct answer: A) For a given amount of risk, Modern Portfolio Theory describes how to select a portfolio with highest possible expected return. B) For a given expected return, Modern Portfolio Theory explains return cannot be more than the highest returning. C) Modern Portfolio Theory is a form of diversification, under certain assumptions & for specific quantitative definitions of risk & return, MPT explains how to find the best possible diversification strategy. D) For a given expected return, Modern Portfolio Theory explains return can be more than the highest returning. E) For a given amount of risk, Modern Portfolio Theory describes how to select a portfolio with lowest possible expected return.
A) a, b and c statements are true
B) Only a is true
C) Only b is true
D) Both the statements are false
E) None of these

The basic objectives of ______________ process are is to provide efficient and effective customer service & meet the needs of the customer in accordance with the terms and conditions of the policy, at the lowest cost. In case of contingency occurs an event has happened, which the insured believes, falls within the scope of his / her policy.
A) Difficult claims
B) Contingency expenses
C) Initial expenses
D) Work through claims
E) Final claims

Choose the best answer:
A) A breach would make the policy voidable.
B) A breach would make the policy non voidable.
C) A warranty would make the policy voidable.
D) A warranty would make the policy non voidable.

Choose the best answer:
A) If the claim occurs the re-insurer usually gives the insured more time to gather all the facts, usually requesting in a formal claims form, which leads the insured to confirm basis name, address, policy number etc, location of claim, full description of circumstances including time as well as date.
B) If the claim occurs the insurer usually gives the insured more time to gather all the facts, usually requesting in a formal claims form, which leads the insured to confirm basis name, address, policy number etc, location of claim, full description of circumstances including time as well as date.
C) If the claim occurs the insurer usually gives the other insurer more time to gather all the facts, usually requesting in a formal claims form, which leads the insured to confirm basis name, address, policy number etc, location of claim, full description of circumstances including time as well as date.
D) If the claim occurs the insured usually gives the insurer more time to gather all the facts, usually requesting in a formal claims form, which leads the insured to confirm basis name, address, policy number etc, location of claim, full description of circumstances including time as well as date.

Choose the best answer:
A) Pure Premium Rating Method reflects expected profits. It is a calculation of pure cost of, property or liability insurance protection. This is, without any loading for insurance co’s expenses, premium taxes, contingencies and profit margins.
B) Pure Premium Rating Method reflects expected losses. It is a calculation of pure cost of, property or liability insurance protection. This is, without any loading for insurance co’s expenses, premium taxes, contingencies and profit margins.
C) Pure Premium Rating Method reflects expected losses and profits. It is a calculation of pure cost of, property or liability insurance protection. This is, without any loading for insurance co’s expenses, premium taxes, contingencies and profit margins.

Find the incorrect one regarding the reasons to share risks: i. To protect the account against large claims. ii. To avoid undue fluctuations in underwriting results ensuring a balanced set or results each year without ‘Peaks and toughs’ and comforting the shareholders. iii. To look to obtain an international spread of risks. iv. To gain access from the shareholders profit. v. To gain access to the intellectual capital of the re-insurer. vi. To gain access to the alternative source of capital. vii. To allow insurer to write more business/access other markets than its own capital would be able to.
A) All are incorrect
B) All are correct
C) Number (i) is correct
D) Number (iv) is correct
E) Number (vii) is correct

The _____________ relies on the insurer having quality statistical information, based on historical loss details & exposure information, collected at market level or intra- company.
A) Pure risk premium
B) Secondary risk premium
C) Third risk premium
D) First year premium
E) Technical pricing (Book rate)

__________ policy covers financial consequences of a project being delayed because of accidental damage to the project materials. It follows in principle the character tics of an consequential loss insurance (MLOP) policy, tout issued in advance of the actual commencement of business.
A) Contractors All Risks Insurance
B) Advance Loss of Profits (ALOP) Policy
C) Marine cum Erection (MCE) Policy
D) Electronic Equipment Insurance (EEI) Policy
E) Machinery Loss of Profits (MLOP) Insurance Policy

Choose the best answer:
A) The burglary insurance policy can be extended to cover riot, strikes & terrorism risks at extra premium.
B) It is based on the insured on first loss basis.
C) Depending on the number of location & fluctuation in values, burglary policies can be insured on a declaration basis or floating basis, as per practice similar to fire insurance.
D) Rates of premium depend upon nature of insured property, construction & location of premises, safety measures.
E) All the statements are true

In regard to passenger’s baggage, cargo & mail carried on aircraft. These liabilities result from the operation the arise is set up to perform and are normally subject of a contract of carriage, like ticket or airway bill, may provide some possibility of limiting airlines liability called _____________ which is legal liability for property damage or injury or death to person outside aircraft.
A) Aviation Hull war Risks Insurance
B) Aviation Hull Total Loss only Insurance
C) Aviation Liability Insurance
D) Aviation Internal Insurance
E) ‘External’ Aircraft third Party liability

Choose the best answer:
A) The amt of compensation Rs. 10,000 for death and Rs. 5,000 for permanent disablement of any person resulting from an accident arising out of use of motor vehicle.
B) The amt of compensation Rs. 50,000 for death and Rs. 25,000 for permanent disablement of any person resulting from an accident arising out of use of motor vehicle.
C) The amt of compensation Rs. 20,000 for death and Rs. 5,000 for permanent disablement of any person resulting from an accident arising out of use of motor vehicle.

General exclusion applicable to all sections are:
A) Any accident outside geographical area specified in policy.
B) Contractual liability
C) Any accident when vehicle is used not in accord with limitation as to use clause.
D) Any accident when vehicle is drive without any effective driving licence.
E) All the statements are true

The objective of employee’s state insurance act to provide certain benefits to employees in cases of sickness, maternity, employment injury and to make provision for certain other matters in relation thereof. The act provides for ___________a statutory corporation set up under provision of the act.
A) Employees simple Insurance Corporation (ESIC)
B) Employees status Insurance Corporation (ESIC)
C) Employees shape Insurance Corporation (ESIC)
D) Employers state Insurance Corporation (ESIC)
E) Employees state Insurance Corporation (ESIC)

IC 11 - Practice of General Insurance  - HINDI (Revised Edition: 2016) Covering Latest 616 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get question 5 Final Papers combined of selected MCQs from all chapters as per exam module.

IC 14 - Regulations of Insurance Business (Updated September : 2019) Covering Latest MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get question 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Choose the best answer:
A) On January 19, 1956, the management of Life Insurance business consists of two hundred and forty five including of 156 Indian and 16 foreign insurer and 75 provident societies.
B) On January 19, 1956, the management of Life Insurance business consists of two hundred and forty five including of 155 Indian and 16 foreign insurer and 75 provident societies.
C) On January 19, 1956, the management of Life Insurance business consists of two hundred and forty five including of 154 Indian and 16 foreign insurer and 75 provident societies.
D) On January 19, 1956, the management of Life Insurance business consists of two hundred and forty five including of 157 Indian and 16 foreign insurer and 75 provident societies.

There are two councils of the Insurance Association, namely ________ and _________
A) The Life Insurance Council and General Insurance Council
B) The Life Insurance Council and Health Insurance Council
C) The Life Insurance Council and Motor Insurance Council
D) The Life Insurance Council and Miscellaneous Insurance Council

According to the MV Act, 1988 no person shall use, except as a passenger, a motor vehicle in public places, unless there is a policy of insurance complying with the requirements of the MV Act, ____________
A) Section 149
B) Section 148
C) Section 147
D) Section 146

Choose the best answer:
A) The amount of compensation payable is restricted to Rs 50,000/- in the case of death and Rs 15,000/- in the case of permanent disablement, after the amendment to Motor Vehicle Act, 1988.
B) The amount of compensation payable is restricted to Rs 50,000/- in the case of death and Rs 5,000/- in the case of permanent disablement, after the amendment to Motor Vehicle Act, 1988.
C) The amount of compensation payable is restricted to Rs 50,000/- in the case of death and Rs 25,000/- in the case of permanent disablement, after the amendment to Motor Vehicle Act, 1988.
D) The amount of compensation payable is restricted to Rs 50,000/- in the case of death and Rs 55,000/- in the case of permanent disablement, after the amendment to Motor Vehicle Act, 1988.

Choose the best answer:
A) For fatal accidents the relief will be Rs. 5,000 per person in addition to reimbursement of medical expenses, if any incurred on the victim up to a maximum of Rs. 12,5000/-
B) For fatal accidents the relief will be Rs. 25,000 per person in addition to reimbursement of medical expenses, if any incurred on the victim up to a maximum of Rs. 12,5000/-
C) For fatal accidents the relief will be Rs. 15,000 per person in addition to reimbursement of medical expenses, if any incurred on the victim up to a maximum of Rs. 12,5000/-

Choose the best answer:
A) The corporate agents and individuals agents shall not suffer from disqualifications under Section 4 of the Insurance Act.
B) The corporate agents and individuals agents shall not suffer from disqualifications under Section 2 of the Insurance Act.
C) The corporate agents and individuals agents shall not suffer from disqualifications under Section 42 of the Insurance Act.
D) The corporate agents and individuals agents shall not suffer from disqualifications under Section 12 of the Insurance Act.

Service agreement prescribing the terms and conditions of services which may bane rendered to the holders of health insurance policies of any insurer.
A) Third Party Administrator (TPA) and an insurer; or
B) Network provider and an insurer; or
C) Network provider, a TPA and the Insurer.
D) All the above

The Reinsurance programme shall continue to be guided by the following objectives to ___________
A) Maximize retention within the country;
B) Develop adequate capacity;
C) Secure the best possible protection for the reinsurance costs incurred;
D) Simplify the administration of business.
E) All the statements are true

The premium on ULIP has 3 major components. They are ________ , __________ and ____________
A) Premium life cover and
B) Investment plus
C) Expenses like agents commission, administrative costs and statutory levies.
D) All the statements are true

Where data for the performance of a fund of the ULIP is not available for at least one calendar year, past performance _____________
A) Of the fund must not be shown.
B) Of the fund must be shown since inception.
C) For one calendar year of the benchmark index must be shown.
D) Of similar funds must be shown.

The early cancellation of policies with return of premium has been used to launder money because _____________
A) A number of policies entered into by the same insurer/intermediary for small amounts and then cancelled at the same time.
B) Requests for return premiums in currencies different to the original premium and
C) Regular purchase and cancellations of policies
D) Premium returned is credited to an account different from the original account
E) All the statements are true

In the case of regular premium ULIP policies, most of the insurance companies al the policyholders to pay premium on a _____________basis
A) Daily, weekly, monthly, quarterly
B) Weekly, monthly, quarterly, semi-annually
C) Monthly, quarterly, semi-annually, annually
D) Weekly, monthly, quarterly, semi-annually, annually

Money Laundering refers to _____________
A) Conversion of cash into gold
B) Conversion of asset into cash
C) Conversion of asset into cash
D) Conversion of illegal money into legitimate money
E) Transfer of cash from one account to another

IC 22 - LIFE INSURANCE UNDERWRITING : Covering Latest 1200 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. The following factors influence the underwriting of glaucoma: i. Degree of visual impairment ii. Cause of glaucoma iii. Effect on applicant's occupation iv. Ratings are usually for the underlying cause rather than glaucoma itself.
A. All the statements are true
B. Only i. is true
C. Only ii. is true

Q. Air enters the middle ear cavity through the Eustachian tube, which connects the middle ear to the _____________ and this tube helps in equalization of pressures on both sides of the ear drum.
A. Outer ear
B. Nasopharynx
C. Middle ear
D. Ear drum

Q. The main role of the ____________system is to transport oxygen and other vital nutrients to all tissues of the body and assist in removal of metabolic waste product via blood. This continuous rotation of blood is called___________.
A. Digestive and circulation
B. Nervous and circulation
C. Reproductive and circulation
D. Cardiovascular and circulation

Q. Raised blood pressure that is secondary to some other disease e.g. kidney disease (renal artery blockage), congenital conditions like coarctation of the aorta. This is ___________
A. Primary or Essential Hypertension
B. Secondary Hypertension
C. Pregnancy-induced hypertension
D. Malignant or accelerated hypertension

Q. The _____________ is a vestigial non-functional. organ that is attached to the cecum. It can get inflamed and infected resulting in appendicitis for which surgical intervention may be required.
A. Oleo-cecal
B.  Appendix
C. Large intestine
D. Colon

Q. The Gastroenterology passes a flexible fiber optic tube through the mouth or the anus to view parts of the GI tract to evaluate abnormalities like peptic ulcer, cancers, etc. This is done by ____________
A. Laboratory Tests
B. Gastrointestinal Endoscopy
C. Ultrasound of Abdomen and Pelvis
D. Endoscopy

Q. The majority of cancers of the esophagus are squamous cell cancers and predisposing factors include chronic gastritis or exposure to other chronic irritants. It is detected by symptoms of dysphagia, weight loss, heartburn, etc. and through investigations like Barium swallow or endoscopy. This is ___________
A. Carcinoma of Esophagus
B.  Carcinoma of stomach
C.  Carcinoma of colon and rectum

Q. The questionnaire should include the following information that will help in classifying the severity of the condition: i.Frequency and severity of attacks. ii. Any trigger for symptoms. iii.Any past, current or long term treatment/therapy. iv. History of hospitalization. v. Any aspects of job/environment which influence the condition. vi. Smoking habit. vii.Time off work. vii.Limitation of functional capacity or exercise tolerance
A.  All the statements are true
B. Only i is true
C. Only ii is true

Q. It will include the following information and help classify the severity of the TB condition.i.Full details regarding diagnosis. ii. Treatment duration of treatment. iii.Any relapse or multi-drug resistance.iv.HIV antibody status
A. All the statements are true
B. Only i is true
C. Only ii is true

Q. There are several disorders of the urinary system and each impacts underwriting in a different way.i.Kidney Stones.ii.Renal Kidney Failure.iii.Urinary tract infection.   iv. Polycystic kidney disease.v.Diabetic nephropathy. vi. Glomerulonephritis. vii. Renal cell carcinoma
A. All the statements are true
B. Only vi is true
C. Only v is true

Q. Macroeconomics is presence of albumin over _________ in a random sample.
A. 20 mg/dl
B. 25 mg/dl
C. 40 mg/dl
D. 30 mg/dl

Q. A proposal for insurance may be declined if the applicant has __________.
A.  Urinary tract infection
B.  Advanced chronic kidney disease
C.  Polycystic kidney disease
D.  Kidney stones

Q. Under activity of thyroid gland, known as ________________________
A.  Thyroid glands
B.  Hypothyroidism
C.  Hyperthyroidism
D.  Abnormal growth

Q. When hypothyroidism occurs in infants and children, it is known as _________________.
A. Toxicologists
B. Cretinism
C. Cytotoxicity
D. Thyroidectomy

Q. Patients with fasting glucose level above the upper limit of normal but below the threshold of diabetes are said to have _____.
A. Gestational diabetes
B. Impaired fasting glucose
C. Impaired glucose tolerance
D. Metabolic syndrome

Q. Other functions of cerebrum are as follows: i. Thought/memory ii.Vision, hearing, touch iii Speech, language iv.Motor control (fine and gross)/ coordination v. Emotions ('limb system' or the 'emotional brain')
A. All the statements are true
B. Only a is true
C. Only c is true

Q. The functions of hypothalamus are as follows: i. Senses the changes in body temperature ii. Controls autonomic activities iii. Links to the endocrine system and controls the pituitary gland iv. Regulates appetite v. Links the mind to the body, sometimes producing ‘psychosomatic disease’
A.  All the statements are true
B.  Only a is true
C.  Only c is true

IC 26 - LIFE INSURANCE FINANCE : Covering Latest 740 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Sample Questions :

Q. Choose the best answer:-
      Reasons for disagreement of balance in cash book and bank pass book.
A) Claques not credited
B) Cheques not presented
C) Entries in the pass book not recorded in the books of account.
a) All the statements are true
b) Only ‘A’ is true
c) Only ‘C’ is true
d) Only ‘B’ is true
e) All are wrong answers

Q. Find the correct one.
A) Formula for straight line method.
Depreciation = cost of asset - Estimated residual value.
Estimated life of the asset
B) Formula for straight line method.
Depreciation = cost of asset + Estimated residual value.
Estimated life of the asset
C) Formula for sum of year’s digit method.
Depreciation = Remaining useful life of asset × (cost of the asset -Estimated residual value)
Sum of years life of the asset
D) Formula for sum of years digit method.
Depreciation = Remaining useful life of asset + (cost of the asset +Estimated residual value) Sum of years of life of asset
a) A,B
b) A,C
c) C,D
d) D,A
e) None

Q. Find the correct one Formula for diminishing balance method.
a) Depreciation = (cost - Accumulated Depreciation) × Depreciation rate.
b) Depreciation = (cost + Accumulated Depreciation) × Depreciation rate.
c) Depreciation = (cost * Accumulated Depreciation) × Depreciation rate.
d) Depreciation = (cost / Accumulated Depreciation) × Depreciation rate.

Q. Choose the best answer in receipt and payment account:-
A) It is simply a summary of cash transactions analyzed under suitable headings.
B) All receipts and payments, whether on account of capital or revenue are included.
C) Amounts reported are confined to cash received and paid during the period without consideration to any outstanding receipts or payments.
a) All the statements are true
b) Only ‘A’ is true
c) Only ‘C’ is true
d) Only ‘B’ is true
e) All are wrong answers

Q. Choose the best answer:-
A) Journal entries are to be posted to the principal Ledger twice
B) The amount appearing against the account head in the debit column of the journal is posted to the debit side of the account in principal ledger and amount appearing against the account head in credit column of the journal is posted to credit side of the account in the principal Ledger.
C) Besides journal and ledger there is number of subsidiary or primary book the most important being cash book
a) All the statements are true
b) Only ‘A’ is true
c) Only ‘C’ is true
d) Only ‘B’ is true
e) All are wrong answers

Q. Choose the best answer :-
A) In children’s deferred insurance plan no evidence of health is required at the vesting age.
B) During the different period the control over the policy is exercised by the proposed.
C) Loan are not granted during the different period.
D) The policy participates in profits only from the deferred date.
a) All the statements are true
b) Only ‘C’ is true
c) only ‘A’ is true
d) only ‘D’ is true

Q. Choose the best answer :-
A) The actuary determines the present value of the future premiums receivable.
B) The actuary determines the present value of future claims payable.
C) The difference between the present value of future claims and present value of future premiums is known as the net liability.
D) Valuation surplus can also arise as a result of ‘loadings’ made in ‘with profits’ policies for bonus additions.
a) All the statements are true
b) Only ‘C’ is true
c) Only ‘A’ is true
d) Only ‘D’ is true

Q. Find the correct formula for resume:-
a) Reserve = Accumulated value of all the premiums received and a policy - interest + cost of meeting the risk already covered + Expenses incurred.
b) Reserve = Accumulated value of all the premiums received under a policy + Interest + cost of meeting the risk already covered - Expenses incurred.
c) Reserve = Accumulated value of all the premiums received under a policy + Interest - cost of meeting the risk already covered - Expenses incurred.

Q. Choose the best answer :-
A) Annuity may be defined as a contract where by the insurance company agrees to pay a certain sum of money periodically to the other party during later time or for a certain time in consideration of lump sum paid in advance.
B) Lapse is if the premiums are discontinued before the contract period, the policy contract is cancelled.
C) Surrender value is calculated as a specified percentage of the paid up amount, increasing with the duration of policy is kept in force.
D) Loan is A policyholder can ask for lone on the policy dependent upon the surrender value of the policy or he may also surrender the policy.
E) When premiums are not paid within days of grace (15 day monthly) and (30 day for other modes) interest for late payment of premium is charged.
a) All the statements are true
b) Only ‘C’ is true
c) Only ‘A’ is true
d) Only ‘D’ is true

Q. Find the correct answer: - in financial statements and auditor’s report.
Part i - accounting principles for preparation of financial statements.
Part ii - Disclosure forming part of financial statements.
Part iii - General instructions for preparation of financial statement.
Part iv - Contents of management report.
Part v - Preparation of financial statement.
a) All the statements are true
b) Only ‘C’ is true
c) only ‘A’ is true
d) only ‘D’ is true

Q. Choose the best answers:
A) Sometimes money market fund is also bond funds.
B) Sometimes equity fund is also called as growth funds.
C) Sometimes debt fund is also called bond funds.
D) Sometimes money market fund is also called liquid funds.
E) Sometimes debt fund is also called as growth funds.
a) A,B,C,D is correct
b) B,C,D,E is correct
c) A,D,E is correct
d) B,C,D is correct
e) All are correct

IC 27 - HEALTH INSURANCE : Covering Latest 900 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Choose the best ANSWER:
A) The insurance company does not need to hold capital to the extent of reinsured business.
B) In practice, market regulations limit the extent to which an insurance company can take this “capital credit”.
C) Capital credit argument is important – because the shareholders of the insurance company would always want to reduce the amount of capital used – so that they can maximize returns.
A) All the statements are true
B) Only a is true
C) Only c is true
D) All the statements are fals

Q. Choose the best answer:
A) Life insurance companies use quota share or surplus structures for the critical illness insurance that they sell.
B) Life insurance companies use treaty or surplus structures for the critical illness insurance that they sell.
C) Life insurance companies use facultative or surplus structures for the critical illness insurance that they sell.
D) Life insurance companies use stop loss or surplus structures for the critical illness insurance that they sell

Q. The________________ scheme was introduced for blue-collar workers employed in the formal private sector and provides comprehensive health services through a network of its own dispensaries and hospitals.
A) Trade union State Insurance Scheme
B) Employees’ State Insurance Scheme
C) Employers’ State Insurance Scheme
D) Organisation State Insurance Schem

Q. Find the incorrect answer: The other important stakeholders in the government system which have significant contribution and impact on the health sector are
A) The Ministry of Women and Child Development, which runs the nutritional support programe
B) ICDS (Integrated Child Development Scheme)
C) The Ministry of Chemicals which regulates the Pharma sector
D) The Ministry of Labour, which regulates the ESIS and also administers the Rashtriya Swasthya Bima Yojana (RSBY)
E) AIDS Commission

Q. One of the most significant developments in the public health financing system of the country in recent years has been the introduction of the ________________
A) National Rural Health Mission (NRHM)
B) Central Government Health Scheme (CGHS)
C) Employees State Insurance Scheme (ESIS)
D) Provident fund (PF)

Q. Choose the right answer:
A) Poorly designed health insurance system can influence the healthcare providers pushing up the costs.
B) This will result in reduced access to the healthcare for the uninsured people and thus, has implications on the accessibility, costs and quality of healthcare.
A) Only a is true
B) Only b is true
C) All the statements are true
D) All the statements are false

Q. Find the correct answer:
1) Personal accident policy protects the insured against accidental death.
2) Personal accident policy protects the insured against any form of disablement due to accident.
A) Statement 1 is true and statement 2 is false
B) Statement 2 is true and statement 1 is false
C) Statements 1 and 2 are true
D) Statements 1 and 2 are false

Q. Find the incorrect answer with respect to underwriting decisions
A) Accept risk at standard rates.
B) Accept risk at an extra premium (loading), though it may not be allowed in some of the countries.
C) Postpone the cover for a stipulated period/term.
D) Decline the cover.
E) Counter offer (either restrict or deny part of the cover).
F) Levy permanent exclusion(s) under the policy.
A) All the statements are false
B) All the statements are true
C) Only a is true

Q. Which of the following statements about medical underwriting is incorrect?
A) It involves high cost in collecting and assessing medical reports.
B) Current health status and age are the key factors in medical underwriting for health insurance.
C) Proposers have to undergo medical and pathological investigations to assess their health risk profile.
D) Percentage assessment is made on each component of the risk.

Q. Which of the following statements about the numerical rating method is incorrect?
A) Numerical rating method provides greater speed in the handling of a large business with the help of trained personnel.
B) Analysis of difficult or doubtful cases is not possible on the basis of numerical points without medical referees or experts.
C) This method can be used by persons without any specific knowledge of medical science.
D) It ensures consistency between the decisions of different underwriters.

IC 45 - GENERAL INSURANCE UNDERWRITING : Covering Latest 880 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Choose the right answer:
a) Rates are not the same as premiums.
b) A rate is the price of a given unit of insurance.
c) Rates vary according to the likelihood and potential size of loss.
d) Rates would be higher near a fault line or for a brick house which is more susceptible to damage than for a concrete structure.
a) All the answers are true
b) Only a is true
c) Only b is true

Q. It is the responsibility of the underwriter to do the following:
a) Decide if an insurance cover can be given to the risk offered for insurance
b) Identify and calculate the risk of loss
c) Establish who can be given coverage
d) Determine the appropriate premium and the terms and conditions for the risks accepted for cover
a) All the statements are true
b) All the statements are false
c) Only a is true
d) Only d is true

Q. The underwriting also does the following:
a) Helps the intermediary to appreciate the philosophy of the insurer
b) Helps the clients to improve their loss profile and give customer satisfaction
c) Helps in business growth
a) All the statements are true
b) All the statements are false
c) Only a is true
d) Only d is true

Q. A completed proposal form gives the details of the following:
a) The insured                                        b) Subject matter
c) Type of cover required                        d) Physical features – positive and negative
e) Type and quality of construction         f) Elevation
g) Age                                                     h) Presence of fire fighting equipment
i) The type of security                             j) Previous insurance and claims history
a) All the statements are true
b) Only d is true
c) All the statements are false

Q. Which of these is the incorrect statement relating to Policyholders servicing?
a) The communications relating change of address, issuance of a duplicate policy, issuance of an endorsement under a policy for change of interest or sum assured or perils insured, financial interest of a bank, etc. must be carried out by the insurer.
b) Any communication received from a policyholder shall be responded to within 10 days of its receipt.
c) The insurer shall give prompt guidance on the procedure for registering a claim.
d) The insurer should also redress the grievances of the insured, pertaining to personal lines insurance.

Q. The policies covered under the 'special cover policy' are as follows:
a) First-loss policy
b) Fire declaration policy
c) Fire floating policy
d) Valued policy
a) All the statements are true
b) All the statements are false
c) Only a is true
d) Only d is true

Q. Examples of named peril policies are:
a) Marine institute cargo clauses b & c
b) Motor package insurance policies
c) Burglary policies
d) Critical care illness policies that cover specific tertiary care contingencies
a) All the statements are true
b) All the statements are false
c) Only a is true
d) Only d is true

Q. Some examples of all risks policy are as follows:
a) All Risks cover for personal jewellery, valuables, works of art
b) Institute Cargo Clauses A, Inland Transit Clauses A in Marine Cargo class of business
c) Electronic Equipment Insurance, Erection All Risks, Contractors All Risk in engineering class of business
d) Property damage, by accidental fall of the property or some other object falling on the property, is also included in this peril.
a) All the statements are true
b) All the statements are false
c) Only a is true
d) Only d is true

Q. Choose the best answer:
a) Clauses on renewal of insurance, basis of insurance, due diligence, cancellation, and arbitration should have similar wordings across all products.
b) Clauses on renewal of insurance, basis of insurance, due diligence, cancellation, and arbitration should have similar wordings across all companies.
c) Clauses on renewal of insurance, basis of insurance, due diligence, cancellation, and arbitration should have different wordings across all products.

Q. Choose the best answer:
a) Perfect competition also requires satisfactory knowledge of the product and its intricacies.
b) The insurance market is in a nascent stage.
a) Both a and b is false
b) Only a is true
c) Both a and b is true
d) Only b is true

IC 46 - GENERAL INSURANCE ACCOUNTS PREPARATION AND REGULATION OF INVESTMENT  : Covering Latest 1200 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Choose the best answer:-- When Bank charges some amount for the services rendered by the bank.
A) Bank Charges A/c Dr. to bank A/C
B) Bank A/c Dr. to Services A/C
C) Bank Charges A/c Dr. to Bank A/C

Q. Choose the correct answer: Charge interest on drawings Rs. 800.
A) Interest on drawings A/c Dr. Rs. 800 to drawings A/c Rs. 800
B) Interest on dividends A/c Dr. Rs. 800 to drawings A/c Rs. 800
C) Drawings a/c Dr. Rs. 800 to interest on drawings A/c Rs. 800.

Q. Weighted average number of equity shaves use as denominator in calculating basic and diluted EPS are disclosed in -----------
A) Profit and loos A/c and notes to A/c
B) Balance sheet and revenue accounts.
C) Balance sheet and profit and loss A/c
D) Profit and loss A/c
E) Balance sheet

Q. Choose the best answer: Ajit received co
A) Commission A/c Dr. Rs. 500 to cash A/c Rs. 500
B) Cash A/c Dr. Rs. 500 to Ankit A/c Rs. 500
C) Commission A/c Dr. Rs. 500 to Ankit A/c Rs. 500
D) Cash A/c Dr. Rs. 500 to Commission A/c Rs. 500

Q. The two prime objectives of financial accounting are:
a) To report on the financial position of an entity
b) To show how the entity has performed, particularly over an accounting period.
A) Both the statements are true.
B) Only (a) is true.
C) Only (c) is true.

Q. Which of the following statements are incorrect?
i) In accounting all the business transactions are recorded based on the concept of dual aspect.
ii) Accrual concept implies accounting on cash basis.
iii) Revenues are matched with the expenses in accordance with the matching principle.
iv) In accordance with the principle of conservatism, the accountant should provide for all possible losses, but should not provide for anticipated income.
A) All of the above.
B) Only (i) and (ii).
C) Only (iii) and (iv).
D) Only (ii) and (iii).

Q. Choose the best answer:-
i) Financial accounting communicates the financial results of an enterprise to various stakeholders through financial statements.
ii) If the financial accounting process is not properly regulated by proper accounting rules and laws, there is a possibility of financial statements being misleading, misrepresentation and providing a distorted picture of the business.
iii) It is very essential to standardize the accounting principles and policies to adequacy and reliability of financial reporting.
iv) Accounting standards provide a framework and standard accounting policies so that the financial statements of different enterprises become comparable.
A) All the statements are true.
B) Only (i) is true.
C) Only (iii) is true.

Q. Under Sec. 132 states that the national financial reporting authority shall---
i) Make recommendations to central government on the formulation and laying down of accounting and auditing policies.
ii) Monitor and enforce the compliance with accounting standards and auditing standards.
iii) Oversee the quality of service of professions associated with ensuing compliance with standards.
iv) Perform other such functions relating clause a, b and c.
A) All the statements are true.
B) Only (i) is true.
C) Only (ii) is true.

Q. Non-cancelled assets is:
i) Upon the occurrence of some remote contingency.
ii) With the permission of lessor.
iii) If the lessee enters into a new lease for the same or an equivalent asset with same lessor.
A) All the statements are true.
B) Only (i) is true.
C) Only (iii) is true.

Q. Choose the best answer:-
i) Accounting policies followed by a domestic general insurance company may differ to some extent from the accounting policies followed by multinational general insurance company.
ii) There is no single set of accounting policies which are strictly followed by all enterprises in all circumstances.
iii) Interpretation of financial statements largely depends on the selection of accounting policies adopted by the enterprises.
A) All the statements are true.
B) Only (i) is true.
C) Only (iii) is true.

IC 67 - MARINE INSURANCE  : Covering Latest 770 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. The Marine Insurance Act deals with what?
A) Definition of ‘marine’, insurable interest, insurable value, principle of disclosures, the policy-contents, assignment of policy.
B) Form and types, construction of terms etc., contribution (double insurance) warranties, voyage, premium, subrogation.
C) Statutory exclusions, types of losses, abandonment, measure of indemnity and return of premium and other provisions.
D) All of the above.
E) Only a and c

Q. Why do arbitrators do not operate in marine market?
A) Neither cargo nor hull policies provide for any arbitration mechanism
B) hull policies does not provide for any arbitration mechanism
C) A Hull policy does not provide for any arbitration mechanism but cargo policies does.
D) Cargo policies does not provide for any arbitration mechanism.
E) None of the above

Q. State the major aspects of marine insurance:
i) Definition of Marine.              ii) Insurable interest.
iii) Insurable value.                    iv) Principle of disclosures.
v) The policy- contents.            vi) Form.
vii) Construction of terms etc. viii) Contribution (double insurance) warranties.
ix) Voyage.                                   x) Assignment of policy.
xi) Premium.                              xii) Statutory exclusions.
xiii) Types of losses.                 xiv) Abandonment.
xv) Measure of indemnity.     xvi) Subrogation
xvii) Return of premium and other provisions.
A) All of the above
B) Only v vi vii x xiii are right
C) Only v , xv, xvi
D) None of the above
E) Only vii is the right answer

Q. What is the basis of settlement of claims in the case of package policy for cardamom estates?
A) In the event of loss before manufacture, 2 Kgs. of raw cardamom shall be considered equal to 1Kg. Of dried cardamom.
B) In the event of loss before manufacture, 6 Kgs. of raw cardamom shall be considered equal to 2Kg. Of dried cardamom.
C) In the event of loss before manufacture, 4Kgs. of raw cardamom shall be considered equal to 1Kg. Of dried cardamom.
D) In the event of loss before manufacture, 4 Kgs. of raw cardamom shall be considered equal to 2Kg. Of dried cardamom.
E) In the event of loss before manufacture, 8 Kgs. of raw cardamom shall be considered equal to 2Kg. Of dried cardamom.

Q. The cover provided under IBOC is identical to ICC (B) with additional cover for the following:
A) Leakage from connecting pipelines in loading transshipment or discharge
B) Loss and contamination of oil by negligence of master officers or crew in pumping cargo, ballast or fuel.
C) Contamination of the subject-matter insured resulting from stress of weather.
D) All of the above
E) None of the above

Q. State the exclusions based on tea crop insurance:
i) Loss/damage caused by absence or shortage, withholding or withdrawal of labour.
ii) Loss/ damage attributable to any fault/ neglect/ defect in the manufacturing process and / or packing materials used.
iii) Loss due to interruption in manufacturing consequent upon stoppage of power supply o breakdown of machinery, howsoever arising.
iv) Any trade loss including chest allowance as agreed by the tea brokers
v) Any loss/ damage pertaining to previous season manufactured tea held back at garden.
vi) Any foreign acquired taint damage to teas arising from any established and proven external cause, except such taint damage as caused by an insured peril.
vii) No cover shall be granted for loss/ damage to standing crops or tea bushes or plants arising out whatsoever peril other than Hail.
A) All of the above
B) Only iv, v vi are right
C) Except vi, vii all are wrong
D) Leaving i, ii, iii all are right
E) Only i, ii, iii are right

Q. State the exclusions based on insurance of containers:
i) Willful misconduct of the assured.
ii) Ordinary wear and tear, ordinary corrosion and rust or gradual deterioration of the containers.
iii) Mysterious disappearance, unexplained loss.
iv) Inherent vice or nature of the subject matter insured.
v) Approximately caused by delay even if such delay is caused by an insured peril.
vi) Arising from insolvency or financial default.
vii) Un-seaworthiness or unfitness of the vessel r craft or conveyance, where the assured or their servants are privy.
viii) War, strikes or nuclear weapon exclusion.
A) All of the above
B) Only iv, v ,vi are right
C) Except vi, viii all are wrong
D) Leaving i, ii, iii all are right
E) Only i, ii, iii are right

Q. State the duration of Contingencies cover.
A) Cover attaches as in ICC(A) &continues during the ordinary course of transit to terminate when the goods are delivered to the final ware house.
B) Some provisions apply to allocation or distribution of the goods prior to delivery, the only difference being in the time limit.
C) The air cargo clause apply a 30 days time limit after unloading from the aircraft as against.
D) Same as the “Change of Voyage” Clause in ICC(A) and remaining clauses are identical to their counter parts in the ICC(A)
E) All the above.

Q. State the headings under which provisions are grouped in sets of clauses A. B and C.:
i) Risks Covered.
ii) Exclusions.
iii) Duration.
iv) Claims.
v) Benefit of insurance.
vi) Minimizing losses.
vii) Avoidance of delay.
viii) Law and Practice
A) All of the above
B) Only v, vi, vii are right
C) Leaving vii, viii all are correct
D) Only viii is right
E) Only v, vi, vii are wrong.

Q. Under which situation adverse features as regards the carrying vessel will attract extra premium:
i) When a vessel is not on a regular trading pattern and is over 15 years old.
ii) When the vessel is on a regular trading pattern, but is over 25 years old. (30 years in case of containerized vessels).
iii) Where the vessel is not a mechanically propelled steel vessel.
iv) Where the vessel is classed below the minimum, as set out in the Institute Classification Clause or is classed with a.
v) Register other than those approved r is unclassified.
vi) Where a vessel is chartered and she is not classed and is 15 year old.
A) All of the above
B) Only v and vi
C) Only iv v vi are right
D) None of the above
E) Only iii is the right answer

IC 74 - LIABILITY INSURANCE : Covering Latest 900 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Choose the incorrect answer: The decision on the indemnity limits should take
A) Organisation’s business
B) Organisation’s risk exposure, asset size or magnitude of operations and shareholding pattern of proposer
C) The public perception
D) The income levels of the population in surrounding areas
E) Organisations customers
F) Management principles

Q. Choose the best answer:
A) A tort is a breach of private rights of individuals which affect only the victims. A crime is a breach of public rights which affect the entire society.
B) A crime is a breach of private rights of individuals which affect only the victims. A tort is a breach of public rights which affect the entire society.
C) A tort is a breach of private rights of corporate which affect only the victims. A crime is a breach of public rights which affect the entire society.
D) A tort is a breach of private rights of individuals which affect all the victims. A crime is a breach of private rights which affect the entire society.

Q. Choose the right answer:
A) Existence of duty of care towards the injured party
B) Injury or damage as a consequence of the breach of the duty
C) Causal connection between the breach of duty and the injury or damage
A) All the above statements are true
B) All the above statements are false
C) Only a is true
D) Only b is false

Q. Choose the best answer:
A) If the liability has been incurred but not reported (IBNR) between its creation and discovery, then it indicates that the liability has been latent in this period.
B) To minimize the known latency exposure, the underwriter would choose a trigger in the operative clause, which in turn acts as the basis on which the policy will operate.
A) All the statements are false
B) All the statements are true
C) Only a is true
D) Only b is true

Q. Choose the best answer:
A) Loss must occur and be reported while the policy is in force. If retroactive period is incorporated, the loss should occur within that period.
B) The initial premium and subsequent years premium are substantially lower than an occurrence policy.
C) No extended reporting coverage is needed as injury/damage that occurred during the policy period are covered no matter how much late they are reported.
D) Cost may be high at the beginning because insured is paying in advance for any injury/damage during the policy period that may one day turn into claims.
A) All the statements are false
B) All the statements are true
C) Only a is true
D) Only b is true

Q. Which of the below is correct with regards to the premium calculation under the Employers Liability Insurance Policy?
A) The premium rates are to be calculated based on the age of the employees
B) The premium rates are to be calculated on the total number of employees
C) The premium rates are to be calculated on the total earnings of the employees
D) The premium rates are to be calculated based on the health status of the Employees

Q. Choose the correct answer with respect to exclusions in compulsory Public Liability Insurance Policy
A) Arising out of willful or intentional non-compliance of any Statutory Provisions.
B) The words willful or intentional are important and to pay claims in such cases would be against public policy.
C) The insured has to declare in the proposal form that all statutory provisions are complied with.
D) Non-compliance would mean breach of utmost good faith
A) All the statements are true
B) Only a is true
C) Only b is true
D) All the statements are false

Q. Choose the best answer:
A) After being manufactured and introduced in the market, the products may be found to be defective. An injury or damage to third parties may or may not have been caused.
B) In either case, the insured for reasons of safety may have to incur the expense of recalling or withdrawing the products from the market. The policy does not pay these costs of recall of the product.
C) A separate policy is available for covering this kind of claims.
A) Only a is true
B) Only b is true
C) Only c is true
D) All the statements are true

Q. In computer services and software developers professional liability policies the wrongful act must take place ______________
A) After retroactive date and after end of policy period.
B) After retroactive date and during end of policy period.
C) Before retroactive date and before end of policy period.
D) After retroactive date and before end of policy period

Q. Exclusions in case of pollution liability is
A) Property owned rented occupied or leased or being worked upon
B) Damage to own product
C) Damage to work included in the products- completed operations hazard; unless performed by sub-contractor on insured behalf
D) Damage to impaired property or property not physically injured.
E) Recall of products
A) Only a is correct
B) Only d is correct
C) All the statements is true
D) All the statements is false

IC 77 - ENGINEERING INSURANCE : Covering Latest 1300 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Choose the best answer:
a) In addition the engineering policies normally provide for “basis of indemnity” for only partial and total and not constructive total loss claims.
b) In addition the engineering policies normally provide for “basis of indemnity” for both partial and total or constructive total loss claims.
c) In addition the engineering policies normally provide for “basis of subrogation” for both partial and total or constructive total loss claims.

Q. Choose the best answer:
a) Rapid industrial growth leads to invention of machines of different types, size and construction.
b) Compact designs and computer aided automatic controlled environments, which were drastically different from the ones found at early stages of industrialisation.
c) Plant, machinery and processes which are highly sophisticated in design, complicated in construction and automatically controlled from a remote control room.
d) All the statements are true

Q. Which one of the following features is not related to the “Insurance, Indemnity and Liability” provisions of a Works Contract?
a) General obligations and responsibilities of the principal and the contractor
b) The obligations to insure
c) Information relevant to risk assessment i.e. specifications, work time schedule, force mature, expected risks etc.
d) The third party liability that may arise due to activities carried out in connection with the project

Q. Among many other stipulations the Works Contract will have clauses which describe the responsibilities of ______________
a) The principal and the contractor to arrange different types of insurances for the project property
b) The people involved in execution of the project
c) The third party liability that may arise due to activities carried out in connection with the project
d) All such provisions are covered under the “Insurance, Indemnity and Liability” provisions of the contract.
e) All the statements are true

Q. Choose the best answer:
a) In CAR policy the material damage sum insured must be equal to the estimated completely erected value of the contract works inclusive of materials, wages, supervision costs, freight, customs duties and items supplied by the principal.
b) In CAR policy the material damage sum insured must be greater than to the estimated completely erected value of the contract works inclusive of materials, wages, supervision costs, freight, customs duties and items supplied by the principal.
c) In CAR policy the material damage sum insured must be lesser than to the estimated completely erected value of the contract works inclusive of materials, wages, supervision costs, freight, customs duties and items supplied by the principal

Q. Choose the best answer:
a) Prospects of recovery must not be overlooked and the insured will be required to actively pursue the question of recovery from the manufacturers/suppliers depending on the terms of the contract.
b) All theft claims require careful investigation in conjunction with the local police authority.
c) Losses discovered only at the time of taking inventory are not covered under the policy.
d) All the statements are true

Q. Exclusions applicable to the cover provided for material damage in EAR policy includes ___________
a) Loss of or damage to files, drawings, accounts, bills, currency, stamps, deeds, notes, securities, cheques and the like.
b) Packing materials such as cases, boxes, crates.
c) Consequential loss of any kind or description, penalties, lack of performance.
d) Loss of or damage to vehicles licensed for general road use, waterborne vessels, machinery / equipment mounted or operated or fixed on floating vessel / barge / craft or aircraft.
e) All the statements are true

Q. Choose the best answer:
a) The Material Damage sum insured must be greater to the estimated completely erected value of the contract works inclusive of materials, wages, supervision costs, freight, customs duties and items supplied by the Principal.
b) The Material Damage sum insured must be equal to the estimated completely erected value of the contract works inclusive of materials, wages, supervision costs, freight, customs duties and items supplied by the Principal.
c) The Material Damage sum insured must be lesser to the estimated completely erected value of the contract works inclusive of materials, wages, supervision costs, freight, customs duties and items supplied by the Principal

Which of the following statements is incorrect?
a) The term “contract works” insurance is used in different insurance markets for different types of policies.
b) The European market normally uses the term ‘contract works’ for open annual floater policies for contractors who normally undertake construction works of similar nature in sufficiently large numbers.
c) A CAR policy would be most suited for contracts predominantly involving civil engineering works.
d) An EAR or MCE policy would cater to plant / machinery erection contracts

Q. It is also permissible to insure the equipment at the project site as an item in the schedule of________________, provided the total value of construction equipment is relatively small, in which case the period of insurance will be concurrent to the project period. In this situation it is easier to allocate the corresponding premium to the contract value.
a) Contractor’s All Risks (CAR) Insurance
b) Contractor’s Plant and Machinery Insurance (CPM)
c) Electronic Equipment Insurance (EEI)
d) Deterioration of Stocks Insurance (DOS)

IC 78 - MISCELLANEOUS INSURANCE : Covering Latest 1200 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Find the incorrect answer: The essential features of an accident claim form are:
A) Personal details, such as age and occupation, so that these may be checked against the policy records
B) Number of the policy and date of issue
C) Details of the accident (date and time, where and how) for the purposes of proof and to test whether the occurrence comes within, the definition of “accident” in the policy
D) The nature of the injuries, nature and extent of disability (capital sum or weekly benefit) is necessary for assessment of amount of loss
E) Asset details

Q. Choose the best answer:
A) In Passenger flight coupon period of cover is restricted to the travel time only.
B) The cover may be issued for specific flight(s) only.
C) Flat premium is charged based on the sum insured and the duration of flight(s).
D) The cover may be issued for a certain specific period of time and the company will be at risk in respect of all the flights undertaken by the insured within that period.
A) All the statements are false
B) All the statements are true
C) Only a is true
D) Only d is true

Q. Find the right policy type:
A) The benefits available are restricted to death, permanent total disablement and permanent partial disablement.
B) The sum insured per student may be fixed by the respective insurers.
C) The limit per accident and also per policy period is applied.
D) The cover may be extended to include medical expenses incurred by the student for treatment in a hospital / nursing home as inpatient for injuries sustained in an accident up to specified limits.
A) Janta Personal Accident insurance
B) Student Safety Insurance
C) Rasta Aapathi Kavach or Traffic Accident Policy
D) Family floater insurance

Q. In health insurance the time limit is not applied to specific treatment which includes.
A) Dialysis.
B) Chemotherapy.
C) Radiotherapy.
D) Eye Surgery.
E) Dental Surgery.
F) Lithography (Kidney stone removal).
A) All the statements are true
B) All the statements are false
C) Only a and d is true
D) Only c and d is true

Q. Which one of the following options is a feature in the (Pair and Set) clause in relation to burglary (private dwellings) insurance policies?
A) The policy pays for the complete set not just the value of any particular part lost.
B) The policy pays exactly half of the value of the set in case any loss occurs.
C) The policy does not pay more than the value of any particular part lost.
D) The policy pays a pre-determined amount in the event of any loss.

Q. VIVEK has a property worth Rs 1,00,000/- insured under his burglary insurance policy. At the time of theft the value of the property is Rs 2,00,000/- and the loss caused to VIVEK is Rs 10,000/-. What is the amount payable to VIVEK?
A) Rs 10,000/-
B) Rs 5,000/-
C) Rs 20,000/-
D) Rs 1,00,000/-

Q. The insurers liability respect of each such Janata agent is limited to _________
A) 10 percent of the basic sum insured or Rs.10,000/-whichever is less
B) 5 percent of the basic sum insured or Rs.10,000/-whichever is more
C) 25 percent of the basic sum insured or Rs.10,000/-whichever is less
D) 5 percent of the basic sum insured or Rs.10,000/-whichever is less

Q. In pedal cycle the insured legal liability for bodily injury to the public and for damage to the property of the public, subject to a specified limit is ___________
A) Rs.10,000/-
B) Rs.20,000/-
C) Rs.30,000/-
D) Rs.50,000/-

Q. The sport insurance cover indemnity is available in respect of loss of or damage to sporting equipment, accessories and sporting apparel used in connection with any sport for which insurance is effected subject to a limit to ____________per person for each sport.
A) Rs. 12,000/-
B) Rs. 1,000/-
C) Rs. 10,000/-
D) Rs. 2,000/-

Q. The event insurance coverage normally sought for _____________
A) Cancellation of event due to accident or illness to the performers
B) Cancellation of the event due to specified perils like fire, riot, strike and AOG perils etc.,
C) Liabilities cover for spectators, participants and performers
D) “Loss of profit” cover due to cancellation or postponement of the event
E) All the statements are true

IC 85 - REINSURANCE MANAGEMENT : Covering Latest 800 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. What is the obligation of a reinsurer when the ceding insurer is in financial difficulties or is insolvent?
A) Reinsurer shares commercial fate, hence reinsurer will have to pay his full share of the same loss
B) Reinsurer share insurance fate, hence reinsurer will have to pay his full share of the same loss
C) Reinsurer share insurance fate, hence reinsurer will not have to pay his share of the same loss
D) Reinsurer shares commercial fate, hence reinsurer will not have to pay his full share of the same loss.

Q. Which is the correct answer?
A) A formal treaty wording is used to describe the monetary limits and mode of operation, the classes of business covered, the territorial scope, the risks excluded, claims and premium calculation and period of agreement
B) A formal treaty wording is used to describe the monetary limits and type of operation, the risk of business covered, the territorial scope, the risks excluded, claims and premium calculation and period of agreement
C) A formal treaty wording is used to describe the terroristic limits and mode of operation, the classes of business covered, the territorial scope, the risks excluded, claims and premium calculation and period of agreement
D) A formal treaty wording is used to describe the monetary limits and mode of operation, the classes of business covered, the territorial scope, the risks included, claims and premium calculation and period of agreement

Q. If the PML is estimated as 25 % of the sum insured (i.e. Rs 25, 00,000/-), then the insurer will decide on his retention and reinsurance surplus as under: PML: Rs. 25,00,000 Retention: Rs. 10, 00,000 (40 percent of PML) What is the surplus amount and ______ % ?
A) Surplus: Rs. 15, 00,000 (60 percent of PML)
B) Surplus: Rs. 25, 00,000 (50 percent of PML)
C) Surplus: Rs. 35, 00,000 (40 percent of PML)
D) Surplus: Rs. 45, 00,000 (50 percent of PML)

Q. Give the correct answer:
A) A basis under which reinsurance is provided for all claims from the ceding insurers underlying policies incepting during the period of the reinsurance contract are covered even if such claims occur after the expiration date of the treaty agreement
B) Any claim from the underlying policies inception outside the period of the reinsurance treaty is not covered even if it occurs during the period of the reinsurance treaty.
C) A basis under which all claims occurring during the period of the treaty, irrespective of when the underlying policies incepted, are covered
D) Any claim occurring after the expiration date of treaty is not covered.
A) All the statements are false
B) All the statements are true
C) Only d is false
D) Only c is true

Q. Choose the correct answer
A) A quota share treaty would assist for a higher ceding commission as compared to a surplus treaty as the later puts in more level of exposure for lesser reinsurance premium ceded to reinsurers
B) The higher level of surplus, such as second and third surplus would have lower ceding commission as compared with the first surplus treaty.
C) The results under a treaty are profitable; the reinsurer may agree a further commission called a profit commission
A) All the statements are false
B) Only a and c are true
C) Only b is true
D) All statements are true

Q. State the correct answers
A) The reinsured can split and structure his total XL requirement in layers depending on market conditions, availability of capacity and cost effectiveness.
B) These layers would sit on top of each other consecutively. Each can be placed with different reinsurers and get triggered only after capacity of the previous layer is exhausted
C) The first layer would cover losses up to the agreed limit in excess of the amount of deductible to be retained by the reinsured. The second layer would commence where the first ended and continue to its limit of cover and so on.
A) All statements is false
B) All statements is true
C) Only a is true
D) Only b is false

Q. Find the correct statements below:
A) The lower the retention of the reinsured the larger the number of claims the reinsurer can expect to exceed it, therefore the higher will be the rate.
B) The greater the limit to the reinsurer the greater his exposure and the higher the rate.
A) Both a and b are false
B) Only a is true
C) Only b is true
D) Both a and b are true

Q. Is this below formula for pure burning costs is right?
                                     (paid losses outstanding losses) 
 A)    Pure burning cost =  -------------------------------------- X 100
                                           Treaty period GNPI 70

                                     (paid losses outstanding losses) 
B)    Pure burning cost =  -------------------------------------- X 1000
                                           Treaty period GNPI 70
                                     (paid losses outstanding PROFIT) 
C)    Pure burning cost =  -------------------------------------- X 100
                                           Treaty period GNPI 70

Q. Give the correct answers:
A) Management of an insurer set the retention limits at a level they can afford to risk their solvency.
B) If management sets retention limits too low, they may find they are ceding too large a part of their premium income to their reinsurers.
C) If the retention limits are set high they expose themselves to retaining more when claims occur
A) a and b is true
B) a and c is true
C) a, b and c is true
D) All the statement is false

Q. Find the correct answer: The primary objective of reinsurance programme is that
A) Reduce the company probability of ruin
B) To safeguard the solvency of an insurer against random fluctuations in the overall claims experience
C) Reinsurance can be used to allow an insurer to accept risks beyond its normal retention
A) Only a is true
B) Only b is true
C) Only c is true
D) All the statements are true

IC 86 - RISK MANAGEMENT : Covering Latest 1000 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Q. Which of the following is the advantage of reinsurance for insurer?
1. Insurer can share his risk with other insurance.
2. It reduces the situation of certainty by distribution of risks among other insurers
A) only 1
B) only 2
C) none
D) both 1 & 2

Q. A high degree of proactive marketing & skill is required by banks to sell the insurance products 2. To make bancassurance successful, clarity on the operational activities of the bancassurance is required 3. The emergence of remote distribution channel would not hamper the distribution of insurance product through banks 4. There is no hazard of direct competition to conventional banking products.
A) 1-True, 2-false, 3-True, 4-False
B) 1-True, 2-False, 3-False, 4-False
C) 1-False, 2-False, 3-True, 4-True
D) 1-True, 2-True, 3-True, 4-False
E) 1-True, 2-True, 3-False, 4-Fals

Q. Choose the best answer with respect to business risks
A) Firms may suffer loss due to destruction of their property by accidents, breakdowns of plant and machinery, fire, flood, cyclone etc.
B) There are several other uncertainties associated with the conduct of any business.
C) Business finance may not be easily available or may be costlier
A) Both a, b and c are true
B) Both a and b are false
C) Only c is true
D) Only b is true

Q. Choose the wrong answer with respect to examples of the risk given below are:
A) Stakeholders increasing the fund during a project may endanger
B) Confidential information may be stolen by employees even within a closed network
C) Lightning striking an aircraft during take-off may make all people on board immediate casualties
D) Change in consumers tastes and fluctuations in the market E) Natural calamities like flood, earthquake, etc.
A) Only a
B) Only a and c
C) Only c and d
D) Both a and b

Q. Choose the best answer with respect to benefits of risk management:
A) Protecting the reputation and public image of the organisation.
B) Preventing or reducing legal liability and increasing the stability of operations.
C) Protecting physical, human and intellectual assets from bodily injury and damage.
D) Protecting the environment.
E) Enhancing the ability to prepare for various circumstances.
A) All the statements are true
B) All the statements are false
C) Only A is true
D) Only B is true

Q. What is an advantage of a written policy statement?
A) Achieves general objectives of a risk management programme
B) Improves communication channels and MIS
C) Coordinates operations between departments
D) Organised the risk management objectives

Q. According to Secure Finance, which of the following is not a responsibility of a risk manager?
A) To identify key strategic risks that would prevent the achievement of objectives
B) To define risk / reward appetite and establish key performance targets
C) To enhance knowledge of principles, practices, techniques and methods of accounting and auditing
D) To prepare reports and other supporting documentation giving information on the organization structure

Q. The following modifications should not be overlooked
A) Temporary modifications as well as permanent ones
B) Start-up modifications as well as those on established plants
C) Cheap modifications as well as expensive ones
D) Modifications to procedures, process materials, operating conditions, as well as modifications to equipment
A) All the statements are true
B) All the statements are false
C) Only a is true
D) Only d is true

Q. Choose the best answer:
A) ERM becomes part of the effort to optimist business initiatives such as pricing, sourcing, investment and others.
B) ERM implementation is an exercise in change management.
A) Both a and b true
B) Only a is true
C) Only b is true
D) Both a and b is false

Q. Intransitive model of Shimpi defines TACC as:
A) [Cost of debt x Debt value/firm value] x [Cost of equity x Equity value/firm value] x [Cost of insurance x Insurance value/firm value]
B) [Cost of debt x Debt value/firm value] + [Cost of equity x Equity value/firm value] + [Cost of insurance x Insurance value/firm value]
C) [Cost of debt x Debt value/firm value] + [Cost of equity x Equity value/firm value] - [Cost of insurance x Insurance value/firm value]
D) [Cost of debt + Debt value/firm value] x [Cost of equity + Equity value/firm value] x [Cost of insurance + Insurance value/firm value]

Q. List out the elements to consider are the continuity of _____________
A) Office services - premises, furniture, stationery etc.
B) Information technology - communications and computing services
C) Human and other resources - ensuring that staff are aware of the alternatives arrangements
D) All the above

IC 57 - Fire & Consequential Loss Insurance  : Covering Latest 900 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

What do you understand by the term Fire Insurance Contract?
A) Governed by the general law of contract as embodied in the Indian Contract Act,1872, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
B) Governed by the general law of contract as embodied in the Indian Contract Act,1873, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
C) Governed by the general law of contract as embodied in the Indian Contract Act,1874, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
D) Governed by the general law of contract as embodied in the Indian Contract Act,1875, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable

What does the fire proposal form includes?
A) A declaration by the insured that the statements are true and that it shall form the basis of reinsurance contract.
B) A declaration by the reinsured that the statements are true and that it shall form the basis of insurance contract.
C) A declaration by the insured that the statements are true and that it shall form the basis of insurance contract.
D) A declaration by the insured that the statements are not true and that it shall form the basis of underinsurance contract.

How the Fire Policy Claims are settled?
A) On the basis of market value of the insured property immediately before fire.
B) On the basis of market value of the uninsured property immediately before fire.
C) On the basis of Plagiarized value of the uninsured property immediately before fire.
D) On the basis of Book value of the insured property immediately before fire.

State the advantage of Declaration policy.
A) The premium ultimately payable is limited to the actual amount at risk irrespective of the sum insured.
B) The premium ultimately payable is limited to the actual amount at risk respective of the sum insured.
C) The premium ultimately payable is recondite to the actual amount at risk irrespective of the sum insured.
D) The premium ultimately payable is recondite to the dubious amount at risk respective of the sum insured.
E) The premium ultimately payable is recondite to the dubious amount at risk irrespective of the sum insured.

How does overheated materials hazard arises?
A) Due to normal process temperatures, especially those involving heated inflammable liquids and materials in driers.
B) Due to normal process temperatures, especially those involving over heated inflammable liquids and materials in driers.
C) Due to abnormal process temperatures, especially those involving over heated inflammable liquids and materials in driers.
D) Due to abnormal process temperatures, especially those involving heated flammable liquids and materials in driers.

What precaution can be taken to prevent the hazard caused by fire?
A) By hot work permit system and other recognised precautions.
B) By semi hot work permit system and other recognised precautions.
C) By crisp work permit system and other recognised precautions.
D) By keen work permit system and other recognised precautions.

What will be the type of installation, when the discount is 5%?
A) Hand Appliances and Trailor Pumps/ Fire Engines.
B) Hand Appliances and Hydrant System.
C) Hand Appliances and Sprinkler/Fixed Water Spray System.
D) Hand Appliances+ Hydrant System and Sprinkler/ Fixed Water Spray System.

State the discount allowed according to per scale in Long Term Policies.
A) ranging form 15% (3 year term) to 50% ( policy for 8 years to 10 years)
B) ranging form 15% (3 year term) to 40% ( policy for 8 years to 10 years)
C) ranging form 15% (3 year term) to 30% ( policy for 10 years and above)
D) ranging form 15% (3 year term) to 50% ( policy for 10 years and above)

State the ultimate purpose of risk inspection.
A) To make recommendation to the insurers in regard to risk improvement and better housekeeping.
B) To make recommendation to the insured in regard to risk improvement and better housekeeping.
C) To make condemnation to the insurers in regard to risk improvement and better housekeeping.
D) To make condemnation to the insured in regard to risk improvement and better housekeeping.

What do you understand by the term retention?
A) The amount which an insurer is prepared to retain for his own account on a risk.
B) The amount which an insured is prepared to retain for his own account on a risk.
C) The amount which an insurer is prepared to interdict for his own account on a risk.
D) The amount which an insured is prepared to interdict for his own account on a risk.

IC 92 - ACTUARIAL ASPECTS OF PRODUCT DEVELOPMENT  : Covering Latest 900 MCQs Chapter wise, just simple login and start practice chapter wise, after complete all the chapters, you get 5 Final Papers combined of selected MCQs from all chapters as per exam module.

Some Sample MCQs are given below:

Which statement is incorrect
A) Chinese where among the first ones to employ methods of risk distribution.
B) First written insurance policy as found on Babylonian Obelisk monument
C) Code of king Hammurabi was carried on the monument.
D) Insurance products have evolved a great deal since then.
E) All are correct

Identify the incorrect statement.
A) Insurance product is only a piece of paper.
B) An insurance product is a legal document which gives the holder of the document legal rights with certain conditions.
C) If insurance document is lost it cannot be replaced.
D) People by insurance products to meet their financial security of their family.
E) An insurance product is useful to the customer because it scenes monetary compensation for the customer on occurrence of certain untoward events.

A proposer can enter in to a contract if he/she is.
A) An individual whose age is at least 18 years a the date of proposal
B) Minor person cannot enter into a contract as a proposer.
C) Person who is mentally stable.
D) A person who cannot sign in view of physical deformity holds the power of attorney granted by a court.
E) All above.

Who does not have insurable interest among the following cases?
A) Wife has insurable interest in her husband and vice versa.
B) An employer has an insurable interest in as employees.
C) A lender has an insurable interest in his borrowers to the extent of outstanding loan amount.
D) An individual has insurable interest in his life to the extent of financial support to his family.
E) Buyer and shopkeeper.

Present value of premium is equal to which of the below
A) Present value of expenses minus present value of benefits.
B) Present value of benefits.
C) Present value of claims expected to be made in future.
D) Present value of investment earnings.
E) Present value of interest earnings.

In case of insurance products the equation of value can be expressed as.
A) Present value of premiums = present value of benefits plus present value of expenses
B) Present value of premiums = future value of benefits plus feature value of expenses
C) Present value of premiums = benefit plus expenses.
D) Present value of premiums = benefits.
E) None above.

Mr. ROHIT purchased an insurance policy for a period of 3 years for a sum assured of 20 lakhs. He will be required to pay Rs. 30,000 premium for the policy for 3 years. Commission is paid under the policy to the Agent 30% of the premium paid in first year and 7.5% of the premium paid in second and third year. Calculate the amount of commission payable in three years.
A) 9000, 2250, 2250
B) 2250, 2250,2250
C) 60000, 150000, 150000
D) 2250, 9000, 2250

The formula for first year expenses can be represented as 1 + X of P+C+k where
A) I = initial cost of procurement
B) P = premium receivable in first year.
C) X% of P represents initial premium related expenses.
D) C = constant expenses per policy of unit sum assured.
E) K = costs independent of premium and sum assured but per policy
F) All above.

Bonus declared in the last year was 5% of SA. In the current yr, it is 10% of the amount of bonus declared in the last yr. if sum SA is Rs. 1,00,000 what is CRB in current yr.
A) Rs. 15,500
B) Rs. 15,000
C) Rs. 10,000
D) Rs. 5,500
E) Rs. 10,500

Which of the following is the main reason for considering consumer forums as stakeholders?
A) These forums protect the interest of the beneficiaries.
B) These forums protect the interest of the regulators.
C) These forums protect the interest of the regulators and beneficiaries.
D) These forums provide consumer education.

Online Test for Fire Insurance (Department 01) for PARA 13.1 and 13.2 Examination - 2019. Covering Latest 500 MCQs. Questions are divided into 5 Practice Paper, per paper carrying 100 MCQs (unlimited attempts) 1 year validity and 3 Final Papers (2 attempts per paper), per paper carrying 50 MCQs and time limit for per paper as per exam module.

Sample Questions

Q. Condition 3 of the Fire Policy Provides:
A) During currency of the policy, the insurers should provide notice to insured if there are any material alternation.
B) During currency of the policy the insured should provide notice to insurers if there are any material alternation.
C) During currency of the policy the insurers should not provide any notice to insured if there are any material alternation.
D) If their is no material alternation, during the currency of the policy, notice should be provided by insurers to insured.

Q.The Tariff Advisory Committee have laid down Rules, Regulations, Rates , Advantages, Terms and Conditions for Fire Insurance Business in India under the provisions of_________________
A) Part IIIB of the Insurance Act,1938
B) Part IIIB of the Insurance Act, 1939
C) Part IIB of the Insurance Act,1938
D) Part IIB of the Insurance Act,1939

Q. What do you understand by the term Fire Insurance Contract?
A) Governed by the general law of contract as embodied in the Indian Contract Act,1872, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
B) Governed by the general law of contract as embodied in the Indian Contract Act,1873, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
C) Governed by the general law of contract as embodied in the Indian Contract Act,1874, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
D) Governed by the general law of contract as embodied in the Indian Contract Act,1875, and a fire insurance contract must have the following essential ingredients of fire in order to make it enforceable
E) None of the above

Q. To the cost of what expenditure is limited?
A) To the cost of reinstating the property to its pre-fire condition and to the sum insured.
B) To the cost of instating the property to its pre-fire condition and to the sum insured.
C) To the cost of reinstating the property to its pre-fire condition and to the sum re-insured.
D) To the cost of instating the property to its pre-fire condition and to the sum re-insured.
E) To the cost of reinstating the property to its pre-fire condition and to the sum under insured.

Q. State the duty of the insured.
A) To observe good faith only at the pre-insurance stage and after the occurrence of a loss.
B) To observe good faith not only at the pre-insurance stage but also during the currency of the policy and specially after the occurrence of a loss.
C) To condone good faith not only at the pre-insurance stage but also during the currency of the policy and specially after the occurrence of a loss.
D) To condone good faith only at the pre-insurance stage and after the occurrence of a loss.
E) To observe good faith only at the pre-reinsurance stage and after the occurrence of a loss.

Q. What do understand by the term Onus of proof?
A) Task or duty imposed on someone to prove that, what he has stated or affirmed is true.
B) Task or duty imposed on someone to prove that, what he has stated or affirmed is not true.
C) Task or duty imposed on someone to prove that, what he has stated or affirmed is partially true.
D) Task or duty imposed on someone to prove that, what he has stated or affirmed is partially wrong.
E) Statement is jumbled up

Q. The doctrine of proximate cause applies equally to exceptions. If the loss is approximately caused by an excepted peril, there is no liability under the policy.
A) Statement is correct
B) Statement is not correct.
C) Statement is partially correct
D) Statement is partially wrong.
E) Statement is jumbled up

Q. Sate the most important rules of Interpretation Of Policies.
A) The intention of the parties to the contract must not prevail and the intention is to be looked for in the policy itself, read as a whole.
B) The intention of the parties to the contract must prevail and the intention is to be looked for in the policy itself, read as a whole.
C) The intention of the parties to the contract must prevail and the intention is to be avoided for in the policy itself, read as a whole.
D) The intention of the parties to the contract must not prevail and the intention is to be avoided for in the policy itself, read as a whole.
E) The intention of the parties to the contract must prevail and the intention is not to be looked for in the policy itself, read as a whole.

Q. What does the principle of indemnity simply says?
A) The insured is adequately indemnified if he is restored to the financial position which he occupies at the time of loss
B) The insured is adequately indemnified if he is restored to the financial position which he occupies at the time of profit.
C) The insurer is adequately indemnified if he is restored to the financial position which he occupies at the time of loss
D) The insurer is adequately indemnified if he is restored to the financial position which he occupies at the time of profit
E) The re-insured is adequately indemnified if he is restored to the financial position which he occupies at the time of loss

Q. What provisions should apply when covers granted midterm?
A) Insurers must receive specific advice from the insured accompanied by payment of additional premium
B) Cover shall commence 15 days after the receipt of premium
C) Premium rates shall be charged on short period scale on full sum insured for the balance period i.e., up to the expiry of the policy.
D) All of the above
E) None of the above

Online Test for Marine Insurance (Department 02) for PARA 13.1 and 13.2 Examination - 2019. Covering Latest 500 MCQs. Questions are divided into 5 Practice Paper, per paper carrying 100 MCQs (unlimited attempts) 1 year validity and 3 Final Papers (2 attempts per paper), per paper carrying 50 MCQs and time limit for per paper as per exam module.

Sample Questions

Q. State the duration of Contingencies cover.
A) Cover attaches as in ICC(A) &continues during the ordinary course of transit to terminate when the goods are delivered to the final ware house.
B) Some provisions apply to allocation or distribution of the goods prior to delivery, the only difference being in the time limit.
C) The air cargo clause apply a 30days time limit after unloading from the aircraft as against.
D) Same as the “Change of Voyage” Clause in ICC(A) and remaining clauses are identical to their counter parts in the ICC(A)
E) All the above.

Q. State the cargo ISM Endorsement.
A) The clause is about safety aspect to be compulsory complied with by vessels of 500 Gross Tonne (GT) or more (with effect from 1st July 2002).
B) The vessel should comply with ISM Code & have the papers on board vessel.
C) If consignor & / or his agents aware about non compliance then loss, damage, expenses not covered.
D) The exclusion does not apply to buyer of cargo in good faith if he was not aware of non compliance.
E) All of the above.

Q. Under strike exclusion, the insurance shall no cover loss, damage or expense cause by what?
A) Caused by strikers, locked out workmen or persons taking part in labour disturbances, riots or civil commotions
B) Resulting from strikes, lock-outs, labour disturbances, riots or civil commotions
C) Caused by any terrorist or any person acting from apolitical motive
D) All of the above
E) None of the above

Q. Identify the term where the cover provided by the Air Cargo War Clauses is almost identical to the cover in the Marine Cargo War Clauses.
A) Institute Cargo Clauses (AIR)
B) Institute War Clauses(AIR Cargo)
C) Institute Strike Clauses( Cargo)
D) Institute War Clauses(Cargo)
E) Institute Strike Clauses (Air Cargo)

Q. Identify the clause that means to sift, to cleanse, o separate sound from the whole which many have got mixed up with some other material.
A) Label Clause
B) Brand and Trade Marks Clause
C) Concealed Damage Clause
D) Garbling Clause
E) Institute Classification Clause

Q. Identify the term where many products and commodities can be economically palliated or utilized to facilitate handling, stowage and general protection of cargo.
A) Corrugated Fiberboard (CF) boxes/ cartons
B) Wooden boxes/ cases
C) Bags/ sacs
D) Bales
E) Unitizing the packages

Q. Variations do occur in the packing requirements of particular types of goods involving particular transits. State the factors that always present.
A) Strength of the packing material and weight of the package unit
B) Handling mobility of the package unit
C) Inherent qualities of the commodities or product packed
D) Hazards involved in a transit
E) All of the above

Q. With how much greater stability, a 15,000 tonner (Vessel, whose Gross Tonnage is 15,000) will normally ride through an Atlantic storm or Indian Ocean cyclone?
A) Greater stability than a 4,000 tonner
B) Greater stability than a 3,000 tonner
C) Greater stability than a 2,000 tonner
D) Greater stability than a 1,000 tonner
E) Greater stability than a 500 tonner

Q. As per Indian Practice, when the premium is to be paid?
A) In advance after commencement of transit
B) Not in advance but before the commencement of transit
C) In advance before commence of transit
D) Not before any commencement
E) Not before any transit

Q. When does the process of arranging insurance starts?
A) It starts with submission of a proposal to the insurer.
B) It starts with submission of a proposal to the reinsurer
C) It starts with submission of a proposal to the underwriter
D) It starts with submission of a proposal to the assure
E) It starts with submission of a proposal to the policy holder

Online Test for  Miscellaneous Insurance (Including  Motor and Engineering Insurance) (Department 03) for PARA 13.1 and 13.2 Examination - 2019. Covering Latest 500 MCQs. Questions are divided into 5 Practice Paper, per paper carrying 100 MCQs (unlimited attempts) 1 year validity and 3 Final Papers (2 attempts per paper), per paper carrying 50 MCQs and time limit for per paper as per exam module.

Sample Questions

Q. Choose the best answer:
A) In dwelling huts insurance for a minimum sum insured of Rs. 6,000/- (agreed value policy) comprising Rs. 5,000/- for structure and Rs. 1,000/- for contents.
B) In dwelling huts insurance for a maximum sum insured of Rs. 6,000/- (agreed value policy) comprising Rs. 5,000/- for structure and Rs. 1,000/- for contents.
C) In dwelling huts insurance for a maximum sum insured of Rs. 6,000/- (agreed value policy) comprising Rs. 5,000/- for structure and Rs. 5,000/- for contents.

Q. According to Section 32 C, every insurer shall provide insurance policies to the persons __________
A) Residing in the rural sector
B) Working in the unorganized or informal sector
C) Who are economically vulnerable
D) Who belong to backward classes of the society and other category of persons
E) All the statements are true

Q. Small cultivators and the underprivileged section of rural population, special programmers, particularly suited to these classes of people programs are popularly known as ______________and Marginal Farmers and Agricultural Labourers (MFAL) Projects.
A) Small Fishers Development Agency (SFDA)
B) Small Foreigners Development Agency (SFDA)
C) Small Fun Development Agency (SFDA)
D) Small Farmers Development Agency (SFDA)

Q. Under the provision of the Insurance Act 1938 (as amended) a fixed percentage of each and every risk underwritten in India has to be compulsorily reinsured with the G.I.C. of India. This percentage was 20 percent and later reduced to 10 percent and is called ______________
A) ‘Cessions’
B) ‘Statutory Cessions’
C) ‘Ceeding’
D) ‘Ceeded’

Q. The event insurance coverage normally sought for _____________
A) Cancellation of event due to accident or illness to the performers
B) Cancellation of the event due to specified perils like fire, riot, strike and AOG perils etc.,
C) Liabilities cover for spectators, participants and performers
D) “Loss of profit” cover due to cancellation or postponement of the event
E) All the statements are true

Q. In identity theft covers scenarios are excluded from the policy are ____________
A) Charges more than specified number of hours prior to first reporting the loss of the card.
B) Charges post reporting the loss of the card.
C) Cash advances made by card.
D) Charges incurred by a person whom the card was entrusted to
E) All the statements are true

Q. Choose the best answer:
A) Potential risk factors for small businesses with websites include getting hacked, spammers and troubles with online service functionality.
B) The insidious criminals who perpetrate online crimes necessitate obtaining e-commerce insurance to protect company and customer information.
C) If a business website gets hacked, the company and its customers are at risk for viruses and violations of personal and financial information.
D) All the statements are true

Q. Which of the following is not likely to be covered under householder insurance policy?
A) Loss of or damage to personal baggage due to accident or misfortune whilst travelling anywhere across the globe
B) Loss of or damage to personal baggage due to accident or misfortune whilst travelling anywhere in India
C) Personal accident insurance for insured, his spouse and children
D) Loss of or damage to jewellery and valuables caused by accident or misfortune whilst anywhere in India.

Q. A horse insurance policy provides indemnity in respect of death of a horse occurring from ___________
A) Disease contracted whilst within the specified area during the period of insurance
B) Disease contracted whilst in transit within the specified geographical area during the period of insurance
C) Disease contracted whilst being outside the specified area during the period of insurance
D) Disease contracted whilst within the specified area after the period of insurance is over

Q. To the extent of which one of the options, the insurer liability respect of each Janata agent is limited to?
A) Five percent of basic sum insured or Rs 1,000/-
B) 10 percent of basic sum insured or Rs 5,000/-
C) Five percent of basic sum insured or Rs 10,000/-
D) Five percent of basic sum insured or Rs 1,00,000/-

Online Test for Accounts & Investment (Department 04) for PARA 13.1 and 13.2 Examination - 2019. Covering Latest 500 MCQs. Questions are divided into 5 Practice Paper, per paper carrying 100 MCQs (unlimited attempts) 1 year validity and 3 Final Papers (2 attempts per paper), per paper carrying 50 MCQs and time limit for per paper as per exam module.

Sample Questions

Q. Expected Return on the market in 16% and Risk free rate is 6%, which of the following projects be accepted.
A) A:β = 0.50, Return = 11.5%
B) B: β = 1.25, Return = 18.0%
C) C: β = 1, Return = 15.5%
D) D: β = 2, return = 25.0%

Q. Annual nominal Interest rates in country X and country Y are 6% and 12% respectively. Current exchange rate is 5 units of X per unit of Y. 3 months forward rate would be
A) 4.756
B) 4.927
C) 5.295
D) 5.085

Q. 80% of sales of Rs. 10,00,000 of a firm are on credit. It has a Receivable Turnover of 8. What is the Average collection period (360 days a year) and Average Debtors of the firm?
A) 45 days and Rs. 1,00,000
B) 360 days and Rs. 1,00,000
C) 45 days and Rs. 8,00,000
D) 360 days and Rs. 1,25,000.

Q. Money Discount Rate if equal to:
A) (1 + Inflation Rate) (1 + Real Rate)-1
B) (1 + Inflation Rate) 4- (1 + Real Rate)-1
C) (1 + Real Rate) 4- (1 + Inflation Rate)-1
D) (1 + Real Rate) + (1 + Inflation Rate)-1

Q. Find the incorrect one: The journal is ----
A) Books of prime entry.
B) As soon as transaction originates it is recorded in Journal.
C) Debit and Credit amounts of transaction are recorded in adjacent columns.
D) Journal is balanced.
E) Final accounts can’t be prepared directly.

Q. _______ helps accountants what to record and what not to record, helps in recording uniformly, facilitates comparison of performance of two different periods of the same firm for the same period.
A) Business entity concept.
B) Realization concept.
C) Matching concept.
D) Money measurement concept.
ANSWER: D

Q. Which of the following statements are incorrect? i) In accounting all the business transactions are recorded based on the concept of dual aspect. ii) Accrual concept implies accounting on cash basis. iii) Revenues are matched with the expenses in accordance with the matching principle. iv) In accordance with the principle of conservatism, the accountant should provide for all possible losses, but should not provide for anticipated income.
A) All of the above.
B) Only (i) and (ii).
C) Only (iii) and (iv).
D) Only (ii) and (iii).

Q. Which of the following is true for accounting for investment as per AS-13?
A) It is not applicable to investment in financial instrument.
B) It is not applicable to investment in immovable property.
C) It is applicable to operating lease but not to financial lease.
D) It is applicable only to short term investments.

Q. Reserve for unexpired risk is made at _______ for marine business and ______ for other classes of business.
A) 100% of net premium, 50% of the net premium.
B) 50% of net premium, 100% of net premium.
C) 100% of claims accepted, 50% of claims accepted.
D) 50% of claims accepted, 100% of claims accepted.

Q. In foreign currency transactions, the assets and liabilities of the non-integral foreign operations, both monetary and non-monetary are translated at __________.
A) The opening rate.
B) The closing rate.
C) The average rate.
D) The economy rate.

Online Test for Personal and Legal (Department 05) for PARA 13.1 and 13.2 Examination - 2019. Covering Latest 500 MCQs.Questions are divided into 5 Practice Paper, per paper carrying 100 MCQs (unlimited attempts) 1 year validity and 3 Final Papers (2 attempts per paper), per paper carrying 50 MCQs and time limit for per paper as per exam module.

Sample Questions

Q. As per Leave Rules, two types of leave from among the following cannot be availed in conjunction
A. Earned leave with Casual leave
B. Earned leave with Sick leave
C. Casual leaves with Sick leave
D. Quarantine leave with Sick leave

Q. As per LTS rules for officers in Scale IV, where the entitlement is by air and the employee has traveled partly by air and partly by rail in AC Ist class total travel not exceeding 1900 kms, what will be the basis of reimbursement ____________
A. Full reimbursement by air for 1900 Kms
B. Full reimbursement by rail AC II tier fare for 1900 Kms
C. Full reimbursement by rail AC Ist Class fare for 1900 Kms
D. Prorate reimbursement by air on actual and balance on AC II tier basis for rail journey.

Q. What are the ideas underpinning soft commitment or high road HRM practices?
A. Labour needs to be treated as assets to be invested in.
B. Employees are a cost which should be minimized.
C. A lack of mutuality existing between employee and employer
D. A disregard for unlocking discretionary effort

Q. Which of the following would likely be the least effective method of recruiting internal job candidates?
A. Posting information on Organisational bulletin boards
B. Examining HR records of current employees
C. Advertising in national newspapers and journals
C. Internal Sources

Q. The interview is used as a method for determining
A. The personality of the candidate
B. The degree of fit between the applicant and the demands of the job.
C. His/her age.
D. Physical attributes

The area from which applicants can be recruited is ______
A. Job agencies
B. Labour markets
C. Employment lines
D. Labour unions

Q. If the services of a person who has opted for pension, is terminated by way of imposing a major penalty, which of the following benefits are not payable
A. Provident Fund
B. Voluntary Provident Fund
C. Pension
D. None of the above

Q. Which of the following are the challenges to personnel management?
A. Globalization
B. Political and Legal factors
C. Technological changes
D. All of these

Q. Which of the following are the functions of personnel management?
A. Managerial function
B. Operative function
C. Both a & b
D. All of these

Q. Managerial functions of personnel management includes
A. Planning & organizing
B. Directing
C. Both a & b
D. All of these

Online Test for Data Processing/ Mechanization & Management Information System (Department 06) for PARA 13.1 and 13.2 Examination - 2019. Covering Latest 500 MCQs. Questions are divided into 5 Practice Paper, per paper carrying 100 MCQs (unlimited attempts) 1 year validity and 3 Final Papers (2 attempts per paper), per paper carrying 50 MCQs and time limit for per paper as per exam module.

Sample Questions

Q. Which of the following statements is most accurate?
A. The degree to which information needs to be summarized increases as one moves up through the management levels
B. Low level managers made unstructured decisions
C. Upper managers make unstructured decisions
D. Low level managers need general information about operating activities.

Q. Where EDP auditors can be used?
A. Implementation phase of MIS development
B. Planning phase of MIS development
B. Analysis and design phase of MIS development
D. All of the above

Q. The parts of a system may be analyzed in the sequence
A. Outputs, objective, management, information processor, input, transformation
B. Objectives, outputs, management, information processor, input, transformation
C. Objectives, outputs, information processor, management, input transformation
D. Outputs, inputs, objectives, management, information processor, transformation

Q. In an experiment in which a new drug was being tested on 1000 rats, which one of the following would a computer be least able to do?
A. Determine the total amount of drug that had been given to all 1000 rats keep records of weight changes of the 1000 rats
B. Keep records of the dosages and the dates the drug was given to each rat
C. Determine the total dosage that had been given to each rat
D. Decide whether the drug was safe enough for use on humans

Q. State the data recording format in most of the modern magnetic tape.
A. 7 bit ASCII
B. 7 bit EBCDIC
C. 8 bit ASCII
D. 8 bit EBCDIC

Q. An information processor includes
A. the data base and the model base
B. the central processing unit
C. incoming data and outgoing information
D. incoming data, the central processing unit, the model base, outgoing information, and the data base
E. None of the above

Q. The Management Information System (MIS) provides timely and effective information to support decision making and other necessary management functions. Can you point out the sub-system which does not being to the MIS?
A. Operational Tectical System
B. Decision Support System (DSS)
C. Data Communication System
D. Automated Office System
E. None of the above

Q. The MIS structure with one main computer system is called a:
A. distributed MIS structure
B. hierarchical MIS structures
C. centralized MIS structure
D. decentralized MIS structure
E. None of the above

Q. State the decimal value of the hexa decimal number AO
A. 160
B. 180
C. 200
D. 210

Q. State the greatest negative number that can be stored in a computer that has 8 bit word length and can be use as 2s complement arithmetic.
A. -127
B. -128
C. -129
D. -130

Q. A lock Box service is used for what?
A. Depositing payments to bank customers
B. Depositing cash when bank is closed
C. Paying bank customers bills automatically
D. Storing papers in a Bank vault

PARA 13.2 English and General Knowledge. English Paper covering all section with 500 MCQs and 10 Practice sets (25 Marks) and General Knowledge covering all sections with 1000 MCQs, MCQs on Current affairs (2018 - 2019) and 10 Practice sets (50 Marks).  Essay, Precis and Letter Writing Sets will be upload after 15th April

Content (English)

• Synonyms Quiz


• Antonyms Quiz


• Common Error Quiz


• Cloze Test Quiz


• Comprehension Quiz


• Fill in the Blanks Quiz


• Idioms and Phrases Quiz


• Narrations Quiz


• One Word Substitution Quiz


• Prepositions Quiz


• Jumbled Words Quiz


• Change of Voice Quiz

Content (GK)

• Books and Slogans Quiz


• Economics Quiz


• Science Quiz


• History Quiz


• Geography Quiz


• First Incidents Quiz


• Indian Politics Quiz


• Sports Quiz


• Technology Quiz


• Miscellaneous Paper : 01 Quiz


• Miscellaneous Paper : 02 Quiz


• Last Year Question Paper Quiz


• Current affairs 

This course "Insurance Agents (Life Insurance) - IC38" is based on revised syllabus. Covering latest sure shot 1200 MCQs with answer.

SYLLABUS
SECTION I
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF INSURANCE AGENT
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2
CHAPTER 6: WHAT LIFE INSURANCE INVOLVES
CHAPTER 7: FINANCIAL PLANNING
CHAPTER 8: LIFE INSURANCE PRODUCT I
CHAPTER 9: LIFE INSURANCE PRODUCT II
CHAPTER 10: APPLICATION OF LIFE INSURANCE
CHAPTER 11: PRICING AND VALUATION OF LIFE INSURANCE
CHAPTER 12: DOCUMENTATION – PROPOSAL STAGE
CHAPTER 13: DOCUMENTATION – POLICY CONDITION - I
CHAPTER 14: DOCUMENTATION – POLICY CONDITION – II
CHAPTER 15: UNDERWRITING
CHAPTER 16: PAYMENTS UNDER A LIFE INSURANCE POLICY

SECTION 3
CHAPTER 17: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 18: INSURANCE DOCUMENTATION
CHAPTER 19: HEALTH INSURANCE PRODUCTS
CHAPTER 20: HEALTH INSURANCE UNDERWRITING
CHAPTER 21: HEALTH INSURANCE CLAIMS

This course "Insurance Agents (GENERAL INSURANCE) – IC38 " is based on revised syllabus. Covering latest sure shot 900 MCQs with answer.

SYLLABUS

SECTION I
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF INSURANCE AGENT
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2
CHAPTER 6: PRINCIPLES OF INSURANCE
CHAPTER 7: DOCUMENTATION
CHAPTER 8: THEORY AND PRACTICE OF PREMIUM RATING
CHAPTER 9: PERSONAL AND RETAIL INSURANCE: HOUSEHOLDER’S INSURANCE
CHAPTER 10: COMMERCIAL INSURANCE: PROPERTY / FIRE INSURANCE
CHAPTER 11: CLAIMS PROCEDURE

SECTION 3
CHAPTER 12: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 13: INSURANCE DOCUMENTATION
CHAPTER 14: HEALTH INSURANCE PRODUCTS
CHAPTER 15: HEALTH INSURANCE UNDERWRITING
CHAPTER 16: HEALTH INSURANCE CLAIMS

This course "Insurance Agents (HEALTH INSURANCE) – IC38 " is based on revised syllabus. Covering latest sure shot 600 MCQs with answer.

SYLLABUS
SECTION I
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF INSURANCE AGENT
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2
CHAPTER 6: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 7: INSURANCE DOCUMENTATION
CHAPTER 8: HEALTH INSURANCE PRODUCTS
CHAPTER 9: HEALTH INSURANCE UNDERWRITING
CHAPTER 10: HEALTH INSURANCE CLAIMS

This course "CORPORATE AGENTS (COMPOSITE) – IC38 " is based on revised syllabus. Covering latest sure shot 1600 MCQs with answer.

SYLLABUS

SECTION I COMMON SECTION
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF CORPORATE AGENCY
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2 LIFE SECTION
CHAPTER 6: WHAT LIFE INSURANCE INVOLVES
CHAPTER 7: FINANCIAL PLANNING
CHAPTER 8: LIFE INSURANCE PRODUCT I
CHAPTER 9: LIFE INSURANCE PRODUCT II
CHAPTER 10: APPLICATION OF LIFE INSURANCE
CHAPTER 11: PRICING AND VALUATION OF LIFE INSURANCE
CHAPTER 12: DOCUMENTATION – PROPOSAL STAGE
CHAPTER 13: DOCUMENTATION – POLICY CONDITION - I
CHAPTER 14: DOCUMENTATION – POLICY CONDITION – II
CHAPTER 15: UNDERWRITING
CHAPTER 16: PAYMENTS UNDER A LIFE INSURANCE POLICY

SECTION 3 HEALTH INSURANCE
CHAPTER 17: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 18: INSURANCE DOCUMENTATION
CHAPTER 19: HEALTH INSURANCE PRODUCTS
CHAPTER 20: HEALTH INSURANCE UNDERWRITING
CHAPTER 21: HEALTH INSURANCE CLAIMS

SECTION 4 GENERAL SECTION
CHAPTER 22: PRINCIPLES OF INSURANCE
CHAPTER 23: DOCUMENTATION
CHAPTER 24: THEORY AND PRACTICE OF PREMIUM RATING
CHAPTER 25: PERSONAL AND RETAIL INSURANCE: HOUSEHOLDER’S INSURANCE
CHAPTER 26: COMMERCIAL INSURANCE: PROPERTY / FIRE INSURANCE
CHAPTER 27: CLAIMS PROCEDURE

This course "CORPORATE AGENTS (LIFE INSURANCE) – IC38 " is based on revised syllabus. Covering latest sure shot 1200 MCQs with answer.

SYLLABUS

SECTION I COMMON SECTION
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF CORPORATE AGENCY
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2 LIFE SECTION
CHAPTER 6: WHAT LIFE INSURANCE INVOLVES
CHAPTER 7: FINANCIAL PLANNING
CHAPTER 8: LIFE INSURANCE PRODUCT I
CHAPTER 9: LIFE INSURANCE PRODUCT II
CHAPTER 10: APPLICATION OF LIFE INSURANCE
CHAPTER 11: PRICING AND VALUATION OF LIFE INSURANCE
CHAPTER 12: DOCUMENTATION – PROPOSAL STAGE
CHAPTER 13: DOCUMENTATION – POLICY CONDITION - I
CHAPTER 14: DOCUMENTATION – POLICY CONDITION – II
CHAPTER 15: UNDERWRITING
CHAPTER 16: PAYMENTS UNDER A LIFE INSURANCE POLICY

SECTION 3 HEALTH INSURANCE
CHAPTER 17: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 18: INSURANCE DOCUMENTATION
CHAPTER 19: HEALTH INSURANCE PRODUCTS
CHAPTER 20: HEALTH INSURANCE UNDERWRITING
CHAPTER 21: HEALTH INSURANCE CLAIMS

This course "CORPORATE AGENTS (GENERAL INSURANCE) – IC38 " is based on revised syllabus. Covering latest sure shot 900 MCQs with answer.

SYLLABUS

SECTION I COMMON SECTION
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF CORPORATE AGENCY
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2 HEALTH INSURANCE
CHAPTER 6: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 7: INSURANCE DOCUMENTATION
CHAPTER 8: HEALTH INSURANCE PRODUCTS
CHAPTER 9: HEALTH INSURANCE UNDERWRITING
CHAPTER 10: HEALTH INSURANCE CLAIMS

SECTION 4 GENERAL SECTION
CHAPTER 11: PRINCIPLES OF INSURANCE
CHAPTER 12: DOCUMENTATION
CHAPTER 13: THEORY AND PRACTICE OF PREMIUM RATING
CHAPTER 14: PERSONAL AND RETAIL INSURANCE: HOUSEHOLDER’S INSURANCE
CHAPTER 15: COMMERCIAL INSURANCE: PROPERTY / FIRE INSURANCE
CHAPTER 16: CLAIMS PROCEDURE

This course "CORPORATE AGENTS (HEALTH INSURANCE) – IC38 " is based on revised syllabus. Covering latest sure shot 600 MCQs with answer.

SYLLABUS

SECTION I COMMON SECTION
CHAPTER 1: INTRODUCTION TO INSURANCE
CHAPTER 2: CUSTOMER SERVICE
CHAPTER 3: GRIEVANCE REDRESSAL MECHANISM
CHAPTER 4: REGULATORY ASPECTS OF CORPORATE AGENCY
CHAPTER 5: LEGAL PRINCIPLES OF AN INSURANCE CONTRACT

SECTION 2 HEALTH INSURANCE
CHAPTER 6: INTRODUCTION TO HEALTH INSURANCE
CHAPTER 7: INSURANCE DOCUMENTATION
CHAPTER 8: HEALTH INSURANCE PRODUCTS
CHAPTER 9: HEALTH INSURANCE UNDERWRITING
CHAPTER 10: HEALTH INSURANCE CLAIMS