Insurance MCQ Questions and Solutions with Explanations | Commerce

A. 50 percent

B. 75 percent

C. 80 percent

D. 90 percent

A. The policy has to be assigned in favour of the insurer

B. Such an assignment will not cancel the nomination already made

C. Both A & B

D. None of the above

A. Surrender

B. Revival

C. Cancellation

D. Foreclosure

A. Where the nominee is a minor, an appointee has to be appointed

B. The appointee has to given his/her written consent

C. Nominee has right to whole/part of the claim

D. None of the above

A. The death claim monies will be shared

B. The death claim monies is payable jointly

C. Both A & B

D. None of the above is correct

A. Rights

B. Title

C. Ownership

D. Any of the above

A. Nominee, Assignee

B. Appointee, Assignee

C. Assignor, Assignee

D. Lender, Loanee

A. Both can be done at the time of taking the policy

B. Both are done as per Insurance Act, 1938

C. Both involve transfer of rights under the policy

D. None of the above

A. Assignee becomes owner of the policy

B. Assignee cannot have better rights than assignor

C. Both A & B

D. None of the above

A. Under absolute assignment, the assignee will have all rights

B. The assignee can deal with the policy in any manner

C. Under conditional assignment the policy shall revert back to the assignor on the happening of an event

D. All of the above