A) C only
B) B & C
C) A B & C
D) None of above
A) A voidance
C) Self insurance
D) Under Insurance
A) A Only
B) B Only
C) C Only
D) A B & C
A) Private contribution guarantee scheme
B) Private insurance
C) Public benefit guarantee scheme
D) Social insurance
A) Loss must be fortuitous or accidental.
B) The loss must not be catastrophic.
C)The loss produced by the risk must be definite and measurable.
D) There mus be a sufficietly large number of heterogeneous exposure units to make the losses reasonably predictable.
A) An unit linked insurance plan
B) Money back policy
C) Term insurance with a level premium
D) Term insurance with a stepped premium
A) Commercial vehicle insurance
B) Engineering insurance
C) Money policy
D) Workmen's compensation
A) Both insurer and insured participates in each others loss
B) Insured participates in running of insurance of company
C) Insured participates in surplus of insurance company
D) insurer participates in loss of insured
C) Both A & B
D) Neither A nor B
A) Creditors have claim only to extend of outstanding pricipal, on policy proceeds
B) Creditors have first claim on policy proceeds
C) Creditors have no claim on policy proceeds
D) Creditors have residual claim on policy proceeds
A) 8 years
B) 91 days
C) 365 days
D) 18 years
A) Anand can claim personal insurance for the accident as it was not caused be negligence on his part; the Municipal corporation can't claim third party lss insurance to pay damages to Anand, as it was negligent. Anand can claim insurance for damage due.
B) Anand can claim temporary disability insurance and insurance for his damaged car
C) Anand has to apply to the municipal corporation for damages, which the corporation will pay out of its claims for liability to third party. His motor insurance will cover damages to his car.
D) Since the municipal corporation was negligent, it would not be able to lodge a claim to recover payment of damages to Anand. Anand will only receive motor insurance claims on his car.
A) Sujata can claim personal accident insurance. Both her neighbours will claim property insurance for he freak accident.
B) Sujata can't claim accident insurance as the accident was cauised by the negligence. her neighbours can claim property insurance cover for loss to their property.
C) Sujata's neighbours will collect damages from her, which Sujata can pay out of insurance cover losses to third party.
D) Sujata's neighbours will not be able to claim insurance as the damage to their property due to such freak accidents is not usually covered by insurance. Sujata will be able to claim her accident insurance, as she did not fall intentionally.
A) A financial planner can persuade the client to consider the losses from permanent disability and highlight the risks to the client and recommend an appropriate policy for him.
B) If a client is not willing to bear the costs of premium, it can be assumed that he is willing to bear the costs of risk retention.
C) If losses that would occur to the client in the event of permanent disability are higher than what he can bear, the client is better off buying insurance. The costs of insuring against losses, which have lower probability of happening, will in any case be lower.
D) The amount of insurance a person will buy depends on his perception of risks and their impact on him. It would not be possible to persuade this client to buy more insurance.
A) Suresh has insured the property risk. He controls some of his personal riak and retains the rest of the risk.
B) Suresh has controlled his personal riak and insured his property risk.
C) Suresh ahs not done anything to amange his risks and has to immediately go for accident and personal risk cover. He can't rely on third party damages alone to cover the risk of the road.
D) Suresh has tranfered his personal riak to other frivers of the road, insured his property risk and can claim damages from accidents are caused by third party negligence.
A) She needs to insure her life for 12 years
B) She does not need to insure her life
C) She needs to insure her life for 30 years
D) She needs to insure her son's life for 30 years.
A) Life Cover
B) Medical Cover
C) Property Insurance
D) Temporary Total Disablement Cover
A) Zone of operation of the vehicle
B) Insured Declared Value (IDV) of the vehicle
C) Cubic capacity of the vehicle
D) Age of the owner of the vehicle
A) Because of interest factor, an annuitant is assured of receiving back more than he or she paid in
B) The annuitant is assured tha he or she cannot outlive the length of time of annuity payments
C) The emphasis is on the liquidation of the fund as opposed to its growth
D) The older the annuitant is when he or she receives the first annuity payment. The greater will be the amount for each payment.
A) Rs 25.04
Compensation paid to insured in always less than the loss
Compensation is equal to the loss
Never less than loss