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

91.
“Hurt not others with that which pains yourself”. This golden rule of ethics is given in the teaching of which religion?

A. Buddhism

B. Christianity

C. Hinduism

D. Judaism

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92.
The license issued to the agent is valid for _________.

A. One year

B. Two years

C. Three years

D. Five years

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93.
As per Section 182 of the Indian Contract Act, _________ is a person employed to do any act for another or to represent another in dealing with a third person.

A. Principal Officer

B. Proxy

C. Mediator

D. Agent

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94.
Which of the below reflects Principle 2 of the Insurance Marketplace Standards Association (IMSA) principles?

A. To provide competent and customer-focused sales and service

B. To engage in active and fair competition

C. To provide for fair and expeditious handling of customer complaints and disputes

D. To maintain a system of supervision and review that is reasonably designed to achieve compliance with these principles of ethical market conduct

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95.
Which of the following is not part of sales process?

A. Prospecting

B. Sales interview

C. Loss assessment

D. Closing

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96.
Which of the below statement is correct?

A. Life insurance is sold, not bought

B. Life insurance is bought, not sold

C. Life insurance is neither bought nor sold; it is a necessity and hence should be bought by every individual

D. None of the above

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97.
Identify the incorrect statement with regards to a ‘qualified’ prospect.

A. A qualified prospect is one who can pay for insurance

B. A qualified prospect is one who can be approached on a favourable basis

C. A qualified prospect is one who is academically well qualified to buy insurance

D. A qualified prospect is one who can pass the company underwriting requirements

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98.
_________ is not a tangible good

A. House

B. Insurance

C. Mobile Phone

D. A pair of jeans

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99.
_________ is not an indicator of service quality.

A. Cleverness

B. Reliability

C. Empathy

D. Responsiveness

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100.
_________ refers to the ability to perform the promised service dependably and accurately.

A. Reliability

B. Responsiveness

C. Assurance

D. Empathy

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Insurance MCQ Questions and Solutions with Explanations | Commerce

91. “Hurt not others with that which pains yourself”. This golden rule of ethics is given in the teaching of which religion?

Answer & Solution

92. The license issued to the agent is valid for _________.

Answer & Solution

93. As per Section 182 of the Indian Contract Act, _________ is a person employed to do any act for another or to represent another in dealing with a third person.

Answer & Solution

94. Which of the below reflects Principle 2 of the Insurance Marketplace Standards Association (IMSA) principles?

Answer & Solution

95. Which of the following is not part of sales process?

Answer & Solution

96. Which of the below statement is correct?

Answer & Solution

97. Identify the incorrect statement with regards to a ‘qualified’ prospect.

Answer & Solution

98. _________ is not a tangible good

Answer & Solution

99. _________ is not an indicator of service quality.

Answer & Solution

100. _________ refers to the ability to perform the promised service dependably and accurately.

Answer & Solution

Read More Section(Insurance)

91.
“Hurt not others with that which pains yourself”. This golden rule of ethics is given in the teaching of which religion?

92.
The license issued to the agent is valid for _________.

93.
As per Section 182 of the Indian Contract Act, _________ is a person employed to do any act for another or to represent another in dealing with a third person.

94.
Which of the below reflects Principle 2 of the Insurance Marketplace Standards Association (IMSA) principles?

95.
Which of the following is not part of sales process?

96.
Which of the below statement is correct?

97.
Identify the incorrect statement with regards to a ‘qualified’ prospect.

98.
_________ is not a tangible good

99.
_________ is not an indicator of service quality.

100.
_________ refers to the ability to perform the promised service dependably and accurately.