CSC VLE INS Insurance Exam answer key
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CSC Insurance Exam answer key
Q.01. Origins of modern insurance business can be traced to ______
Q.02. LIC of India act was passed in June 1956 but it came into force on
Ans. September 1, 1956
Q.03. Every insurance carrying on business in India shall invest and at all time keep invested an amount not exceeding _____ of heir funds other capital maker investments.
Q 04. On 20th January 1956 all life insurance companies operating in India were taken over by _____ nominated custodians.
Q.5 . which of the following is a method of risk transfer.
Q.06 . which of the following statements is true?
Ans. Insurance is a method of sharing the losses of a few by many.
Q.7. insurance is a mechanism that helps reduce adverse consequences through______.
Ans. Pooling spreading and sharing of risk.
Q. 08. Employees State Insurance Act 1948 provides for.
Ans. medical aid to workers and their families working in Industries located in certain notion notified areas
Q.9. pradhan mantri jeevan jyoti bima Yojana is to benefit people in case of death. This scheme with a premium of Rs 330 and coverage of Rs 2 lakh is available to a person in the age group of _____
Ans. All the above
Q.11 An insurer is bound to furnish details regarding.
Ans. All the above three
Q.12. How the breath of utmost Good faith occurs in a contract of insurance?
Ans. through both of the above
Q13. in property insurance Insurable interest must exist at the time of _______
Inception and loss both
Q .14 Generally a person seeking insurance writes a form to the insurer and applies for insurance. This form is known as ______
Ans. proposal form
Q.15 In any contract if there are an offer and acceptance, what is the third condition that must be fulfilled to make it a complete contract?
Q16 A fact that influences prudent underwriters? decision to Accept the risk or not is known as __________
Ans. Material fact
Q.17. Gautama gets his tractor insured for a sum saying that the tractor is two years old. But in an Accident, when the tractor becomes a total loss, the insurer comes to know that the said tractor was 10 years old. The insurer can reject the claim stating ______
Ans. Non – Disclosure of material fact
Q18 Indemnity means a guarantee or an assurance to put the insured in the same position in which he was immediately prior to the happening of the contingency insured. That means the insurer undertakes to.
Ans. Make good the loss
Q19 Ram fell from a horse while riding and his leg fractured. He kept lying on a wetland for a long time before he was taken to the hospital where he was diagnosed with pneumonia and he died of pneumonia. the proximate cause was_______ .
Ans. Accidental fall from the horse.
Q.20. Conventionally Insurance has been classified into _____
Ans. Life Insurance and General Insurance.
Q 21. miscellaneous Insurance business means affecting insurance contracts on all kinds of risks other than ________
Ans. All the three above.
Q 22 Some insurance cannot be categorized as a standard group and are a part of? Others? Insurance like_______.
Ans. All the above
Q23. All the insurance in India are governed by the rules and regulations framed by IRDAI except _______
Ans. Postal Life insurance
Q.24. A Household insurance means______.
Ans. Both of the above
Q .25 Life insurance provides the products like _____
Ans. Both Above