Insurance MCQ Questions and Solutions with Explanations | Commerce

A. Ordinary revival

B. Special Revival

C. Instalment revival

D. Any of the above

A. Ordinary revival

B. Special Revival

C. Instalment revival

D. Any of the above

A. It is as though a new policy is issued by altering DOC

B. The maturity date also gets altered

C. Difference between old and new premium is payable

D. All of the above

A. The policy should have loan value

B. The policy must not have acquired surrender value

C. Either A or B

D. Neither A nor B

A. Granting a loan

B. Revival of the policy

C. Both A & B

D. None of the above

A. The policyholder would pay full arrears of premium with interest like ordinary revival

B. The loan granted would be used as a consideration amount and balance only payable

C. Both A & B

D. None of the above

A. When policyholder is unable to pay full arrears of premium in lumpsum

B. When the policy could not be revived under special revival scheme

C. Both A & B

D. None of the above

A. Insurer

B. Insured

C. Both Insurer & Insured

D. None of the above

A. One year

B. Two years

C. Three years

D. Four years

A. Paid up value

B. Surrender Value

C. Revival Value

D. None of the above