Insurance MCQ Questions and Solutions with Explanations

Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Section 7 Section 8 Section 9 Section 10

1.
Savings is a composite of which of the following decisions?

A. Postponement of consumption

B. Parting with liquidity

C. Both A & B

D. None of the three

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2.
Risk transfer means

A. Insuring with an insurance company

B. Insuring with an Government

C. Insuring with the owner of the company

D. Risk retention

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3.
Which of the following cannot be categorised under risk?

A. Dying too young

B. Dying too early

C. Natural wear and tear

D. Living with disability

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4.
What is the meaning of the term non-medical underwriting?

A. Taking health insurance

B. Buying a medical insurance without medical exam

C. Buying a life insurance without medical exam

D. None of the three

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5.
In respect of nomination, which of the following statements are correct?

A. More than one person can be nominated

B. Nomination can be done either at the time of commencement or later

C. Nomination can be changed by making an endorsement

D. All of the above

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6.
Bank deposit addresses which type of need?

A. Uncertainties

B. Wealth creation

C. Savings

D. Contingencies

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7.
From the below given age proof documents, identify the one which is classified as non-standard by insurance companies.

A. School certificate

B. Identity card in case of defence personnel

C. Ration card

D. Certificate of baptism

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8.
The sum insured under a health insurance policy would primarily depend on the

A. Age

B. Health condition

C. Affordability

D. Income

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9.
What are the charges in a ULIP?

A. Policy Allocation Charge

B. Mortality charge

C. Both A & B

D. None of the above

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10.
In a money back plan, what is the maturity claim payable?

A. Sum insured

B. Sum insured less survival benefits paid already

C. Bonuses

D. Nothing is payable

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Insurance MCQ Questions and Solutions with Explanations | Commerce

1. Savings is a composite of which of the following decisions?

Answer & Solution

2. Risk transfer means

Answer & Solution

3. Which of the following cannot be categorised under risk?

Answer & Solution

4. What is the meaning of the term non-medical underwriting?

Answer & Solution

5. In respect of nomination, which of the following statements are correct?

Answer & Solution

6. Bank deposit addresses which type of need?

Answer & Solution

7. From the below given age proof documents, identify the one which is classified as non-standard by insurance companies.

Answer & Solution

8. The sum insured under a health insurance policy would primarily depend on the

Answer & Solution

9. What are the charges in a ULIP?

Answer & Solution

10. In a money back plan, what is the maturity claim payable?

Answer & Solution

Read More Section(Insurance)

1.
Savings is a composite of which of the following decisions?

2.
Risk transfer means

3.
Which of the following cannot be categorised under risk?

4.
What is the meaning of the term non-medical underwriting?

5.
In respect of nomination, which of the following statements are correct?

6.
Bank deposit addresses which type of need?

7.
From the below given age proof documents, identify the one which is classified as non-standard by insurance companies.

8.
The sum insured under a health insurance policy would primarily depend on the

9.
What are the charges in a ULIP?

10.
In a money back plan, what is the maturity claim payable?