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

61.
The free look period available to cancel a policy is –

A. 15 days

B. 30 days

C. 45 days

D. 60 days

Answer & Solution Discuss in Board Save for Later

62.
When free look period under a policy would commence?

A. Date of commencement

B. Date of receipt of policy bond

C. Date of FPR

D. Any time

Answer & Solution Discuss in Board Save for Later

63.
Which is evidence of commencement of contract/risk cover?

A. Policy document

B. Prospectus

C. Proposal form

D. FPR

Answer & Solution Discuss in Board Save for Later

64.
Which is a Premium receipt?

A. First Premium Receipt

B. Renewal Premium Receipt

C. Both A & B

D. None of the three

Answer & Solution Discuss in Board Save for Later

65.
Which will act as a proof of premium payment should any dispute arise as to premium payment?

A. F.P.R.

B. R.P.R

C. Proposal form

D. Policy document

Answer & Solution Discuss in Board Save for Later

66.
Which is evidence of contract?

A. Policy document

B. Prospectus

C. Proposal form

D. FPR

Answer & Solution Discuss in Board Save for Later

67.
What are the parts of a policy bond?

A. Policy schedule

B. Standard provisions

C. Specific provisions

D. All of the above

Answer & Solution Discuss in Board Save for Later

68.
Which of the following information is not found in the Policy Schedule?

A. Plan and Term

B. Sum insured

C. Rights/Privileges

D. Policy Number

Answer & Solution Discuss in Board Save for Later

69.
Standard provisions of a policy contains which of the following information?

A. Rights/Privileges

B. Sum insured

C. Table and Term

D. Policy Number

Answer & Solution Discuss in Board Save for Later

70.
Specific policy provisions may contain –

A. Plan and Term

B. Clause

C. Rights/Privileges

D. Policy Number

Answer & Solution Discuss in Board Save for Later

1 2 3 4 5 6 7 8 9 10

Insurance MCQ Questions and Solutions with Explanations | Commerce

61. The free look period available to cancel a policy is –

Answer & Solution

62. When free look period under a policy would commence?

Answer & Solution

63. Which is evidence of commencement of contract/risk cover?

Answer & Solution

64. Which is a Premium receipt?

Answer & Solution

65. Which will act as a proof of premium payment should any dispute arise as to premium payment?

Answer & Solution

66. Which is evidence of contract?

Answer & Solution

67. What are the parts of a policy bond?

Answer & Solution

68. Which of the following information is not found in the Policy Schedule?

Answer & Solution

69. Standard provisions of a policy contains which of the following information?

Answer & Solution

70. Specific policy provisions may contain –

Answer & Solution

Read More Section(Insurance)

61.
The free look period available to cancel a policy is –

62.
When free look period under a policy would commence?

63.
Which is evidence of commencement of contract/risk cover?

64.
Which is a Premium receipt?

65.
Which will act as a proof of premium payment should any dispute arise as to premium payment?

66.
Which is evidence of contract?

67.
What are the parts of a policy bond?

68.
Which of the following information is not found in the Policy Schedule?

69.
Standard provisions of a policy contains which of the following information?

70.
Specific policy provisions may contain –