Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Within two years of rejection of the complaint by the insurer

B. Within three years of rejection of the complaint by the insurer

C. Within one year of rejection of the complaint by the insurer

D. Within one month of rejection of the complaint by the insurer

A. The complaint must be made by an individual on a 'Personal Lines' insurance

B. The complaint must be lodged within 1 year of the insurer rejecting the complaint

C. Complainant has to approach a consumer forum prior to ombudsman

D. The total relief sought must be within an amount of Rs. 20 lakh

A. A fee of Rs. 100 needs to be paid

B. No fees or charges need to be paid

C. 20% of relief sought must be paid as fee

D. 10% of the relief sought must be paid as fee

A. One year

B. Two years

C. Three years

D. Four years

A. Investment value excluding interest

B. Loan value

C. Paid-up value

D. Capital invested

A. Post retirement

B. While he is earning

C. While he is a student

D. When he is just married

A. District Forum

B. State Commission

C. National Commission

D. Zila Parishad

A. At the time of taking policy

B. At the time of claim

C. Both A & B

D. None of the above

A. An agent today cannot work for more than one non-life insurance company

B. An agent can work only for one life insurance company and also for only one non-life company

C. An agent today can work for more than one life insurance company

D. Such an agent who works for one life and one non-life insurance company is called composite agent

A. Principle of utmost good faith

B. Insurable interest

C. Indemnity principle

D. None of the above