Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Representation

B. Merely misrepresentation

C. Contributing statement

D. Offer by the party

A. Housewife

B. Businessman

C. Government employee

D. Minor

A. His contracting pneumonia after falling into a water body from the horseback

B. Dying of the illness in the hospital

C. Ramesh falling off a horseback and suffers a grave injury

D. Falling off the horseback

A. Bank loans

B. Investment in shares

C. Investment in Term Insurance

D. Investment in savings bank accounts

A. There is no relationship whatsoever

B. With greater duration of investment returns are larger

C. If the duration is larger the rate of returns is likely to be smaller

D. With greater duration of investment larger tax possibility is likely

A. Inflation

B. Deflation

C. Reflation

D. Stagflation

A. A Term Insurance policy cannot be convered into any other policy during its duration

B. Term policy is available both a separate policy and as a rider in another policy

C. Term policy can be issued with lifelong renewability option

D. All Term covers will have a disability rider

A. A convertible Term policy cannot be converted into a whole life policy

B. A convertible policy can be converted into a money back cover also

C. A Convertible Term policy can be converted into a whole life policy

D. A converting term policy can be converted into a decreasing term policy

A. In endowment assurance survival up to the end of the term as well as in between death will give the claimant the benefits of the policy

B. An endowment policy only survival benefit is available

C. In endowment cover only death benefit is there

D. Endowment plan and Term insurance are similar in benefits

A. Universal Life Insurance is associated with Germany

B. Universal Life plan was first introduced in the UK

C. France is the home of universal Life policies

D. USA is known for introducing such policies