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Assessment Title

Module

:

:

Chapter1

1.HISTORY OF LIFE INSURANCE

Q1.

The main role of an underwriter in a non-life insurance company is normally to

assess the acceptability of particular risksunderwriter in a non-life insurance company is normally to certify a loss when claims are submitted

certify a loss when claims are submittedis normally to assess the acceptability of particular risks design the structure of the products to

design the structure of the products to be offeredof particular risks certify a loss when claims are submitted negotiate with the industry regulator Q2.

negotiate with the industry regulatorsubmitted design the structure of the products to be offered Q2. is an insurer for the

Q2.

is an insurer for the insurance company

IRDAregulator Q2. is an insurer for the insurance company Reinsurance company LIC GIC Q3. Micro insurance

Reinsurance companyregulator Q2. is an insurer for the insurance company IRDA LIC GIC Q3. Micro insurance is

LICinsurer for the insurance company IRDA Reinsurance company GIC Q3. Micro insurance is made specifically for

GICfor the insurance company IRDA Reinsurance company LIC Q3. Micro insurance is made specifically for people

Q3.

Micro insurance is made specifically for people from.

High income.Q3. Micro insurance is made specifically for people from. Middle class. Low income. Affluent class. Q4.

Middle class.insurance is made specifically for people from. High income. Low income. Affluent class. Q4. Why is

Low income.specifically for people from. High income. Middle class. Affluent class. Q4. Why is Insurance required To

Affluent class.for people from. High income. Middle class. Low income. Q4. Why is Insurance required To Cover

Q4.

Why is Insurance required

To Cover Risks of LifeLow income. Affluent class. Q4. Why is Insurance required To plan for Future goals For Savings

To plan for Future goalsclass. Q4. Why is Insurance required To Cover Risks of Life For Savings All of the

For Savingsrequired To Cover Risks of Life To plan for Future goals All of the above Q5.

All of the aboveTo Cover Risks of Life To plan for Future goals For Savings Q5. Micro insurance is

Q5.

Micro insurance is transacted by

Life Insurers onlyAll of the above Q5. Micro insurance is transacted by Non-Life Insurers only non-life and life

Non-Life Insurers onlyQ5. Micro insurance is transacted by Life Insurers only non-life and life insurers None of them

non-life and life insurersis transacted by Life Insurers only Non-Life Insurers only None of them Total Questions Total Marks

None of themonly Non-Life Insurers only non-life and life insurers Total Questions Total Marks : : 10 10

Total Questions

Total Marks

:

:

10

10

Q6.

What is the maximum cover that can be provided in microinsurance?

5000

5000

10000

10000

50000

50000

100000

100000

Q7.

Mr. Varun who owns a multi chain company would like to take an insurance. What will be the bestoption for him from the following ?

He can take Surety insuranceWhat will be the bestoption for him from the following ? He can take Business Partner

He can take Business Partner insurancefor him from the following ? He can take Surety insurance He can take Key man

He can take Key man Insurancetake Surety insurance He can take Business Partner insurance He Can take company insurance Q8. Which

He Can take company insuranceBusiness Partner insurance He can take Key man Insurance Q8. Which of the following does not

Q8.

Which of the following does not form part of the regular function of I.R.D.A.?

Ensuring smooth running of the insurance sectordoes not form part of the regular function of I.R.D.A.? Granting of licenses to insurance companies

Granting of licenses to insurance companies agents intermediaries and Loss adjusters Surveyors.of I.R.D.A.? Ensuring smooth running of the insurance sector Monitoring the solvency position of the insurance

Monitoring the solvency position of the insurance companiesagents intermediaries and Loss adjusters Surveyors. Fixing up the premium rates for the products of the

Fixing up the premium rates for the products of the insurersMonitoring the solvency position of the insurance companies Q9. Which of the following statement does not

Q9.

Which of the following statement does not characterize the Professional Insurance market

Transparency in its dealings with customersdoes not characterize the Professional Insurance market It keeps the interest of its customers at the

It keeps the interest of its customers at the forefront of all that it doesInsurance market Transparency in its dealings with customers That the customers get what they are looking

That the customers get what they are looking forof its customers at the forefront of all that it does Will have profit making as

Will have profit making as its only motive.it does That the customers get what they are looking for Q10. The Non-Government Organisations (NGOs)

Q10.

The Non-Government Organisations (NGOs) help the insurance industry immensely in

Promotional activities(NGOs) help the insurance industry immensely in Drafting new regulations Linking buyers and sellers Linking

Drafting new regulationsthe insurance industry immensely in Promotional activities Linking buyers and sellers Linking third party

Linking buyers and sellersinsurance industry immensely in Promotional activities Drafting new regulations Linking third party administrators (TPAs)

Linking third party administrators (TPAs)(NGOs) help the insurance industry immensely in Promotional activities Drafting new regulations Linking buyers and sellers