Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Assignor

B. Assignee

C. Life Insured

D. Nominee

A. Nomination, Assignment

B. Nomination, Surrender

C. Assignment, Foreclosure

D. Assignment, Nomination

A. Reduction in sum assured

B. Change in mode of premium payment

C. Correction in name

D. Increase in risk

A. Extension of term

B. Change from with profit to without profit

C. Alterations which result in lowering the premium

D. All of the above

A. Tendency of people who expect loss to take insurance eagerly leading to loss to the insurer

B. Tendency of people to go for small amount of insurance

C. Tendency of people who have good health to go for insurance

D. Non evincing keen interest in buying an insurance

A. Standard life

B. Sub-standard life

C. Declined risk

D. Preferred risks

A. Direct & indirect

B. Accept or decline

C. Judgement & Numerical

D. Openended & closeended methods

A. Any Doctor

B. Medical Referee

C. Medical Consultant

D. Medical Practitioner

A. An underwriting decision where increased death benefit would be payable

B. An underwriting decision where decreased death benefit would be payable

C. A decision which does not alter the death benefit

D. None of the three

A. Very small

B. Small

C. Large

D. Not significant