1.Which of the following Insurance Companies was launched with NABARD as one of its promoter’s with 30% stake in it ?
General Insurance Corporation Ltd. National Insurance Cornpany Ltd. Agriculture Insurance Company Ltd, SBI Life Insurance Company Ltd.
2.Which of the following words/ terms is closely associated with the insurance business
Archives Donation Actuary Quest
3.Which of the following is the best description of what insurance is?
Insurance = Collective bearing of risk Insurance = Paying for other’s mistake Insurance = Taking from ‘A’ to pay ‘B’ Insurance = Paying for something which will never happen
4.Which of the following correctly describes what the ‘Bancassurance’ is
It is an arrangement whereby the branches of a bank sell / distribute insurance products of an insurance company. It is a new product developed/ launched by the banks in which the risks of the high value customers are covered for any losses to their property and/or lives through an insurance cover. It is a new product launched by some banks by which they are providing insurance cover to exporters/ importers for the losses, if any due to high fluctuations in the exchange rates of dollars and other major currencies. None of these
5.In Insurance policies we always find a date which is “Date of Maturity”. What does it mean?
This is the date on which the policy was sold to the customer/person insured This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her. This is the date on which the contract between the person and insurance company will come to an end The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the “payment due date”.
General Insurance Corporation Ltd. National Insurance Cornpany Ltd. Agriculture Insurance Company Ltd, SBI Life Insurance Company Ltd.
2.Which of the following words/ terms is closely associated with the insurance business
Archives Donation Actuary Quest
3.Which of the following is the best description of what insurance is?
Insurance = Collective bearing of risk Insurance = Paying for other’s mistake Insurance = Taking from ‘A’ to pay ‘B’ Insurance = Paying for something which will never happen
4.Which of the following correctly describes what the ‘Bancassurance’ is
It is an arrangement whereby the branches of a bank sell / distribute insurance products of an insurance company. It is a new product developed/ launched by the banks in which the risks of the high value customers are covered for any losses to their property and/or lives through an insurance cover. It is a new product launched by some banks by which they are providing insurance cover to exporters/ importers for the losses, if any due to high fluctuations in the exchange rates of dollars and other major currencies. None of these
5.In Insurance policies we always find a date which is “Date of Maturity”. What does it mean?
This is the date on which the policy was sold to the customer/person insured This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her. This is the date on which the contract between the person and insurance company will come to an end The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the “payment due date”.
