Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Period between the purchase of annuity and commencement of payments

B. Period during which the insurer makes annuity payments

C. Time taken to build up the corpus

D. Insolvency period

A. Meeting the customers in winter

B. Meeting the customers when they are suffering from cold

C. Meeting people unannounced

D. Meeting the customers after fire has been extinguished

A. The actual experience is worse than what it had assumed

B. The actual experience is better than what it had assumed

C. The liabilities are under/over valued

D. The assets are valued in a conservative manner

A. Protection

B. Thrift

C. Savings

D. Price

A. Before acceptance of risk to assess the risk for rating purpose

B. To find out the true value of asset

C. To find out how the asset came into the owner's possession

D. To know whether any other property in the neighbourhood can be insured

A. Savings

B. Investment

C. Insurance

D. Risk mitigation

A. Direct and indirect

B. Accept and decline

C. Judgement and numerical

D. Open-ended and close-ended

A. Instrumental

B. Panelling

C. Non-medical

D. Judgmental

A. Claim may be settled on the basis of an indemnity bond

B. An advertisement may have to be placed in a newspaper if the amount to be paid is high

C. Both A & B

D. None of the above

A. Nothing is payable to the policyholder

B. Excess amount (subsisting cash value after deducting loan/interest) is payable

C. Notice has to be given to the policyholder by the insurer

D. None of the above