While Practice for BBA or MBA exams using these MCQ. Reduce the financial consequences of adverse situations c. Negate all consequences of adverse situations d. Make assets continuously productive e. All of the above 3. Hyderabad, A. Nature of contract: ADVERTISEMENTS: Nature of contract is a fundamental principle of insurance contract. Once you have answered the questions, click on 'Submit Answers for Grading' to get your results. Principles of Management Multiple Choice Questions and Answers Part -1 Principles of Management Multiple Choice Questions and Answers Part -2 Principles of Management Multiple Choice Questions and Answers Part -3 51. Damage to machinery and property b. These short solved questions or quizzes are provided by Gkseries. To get more questions visit other sections. Insurance Agents c. Third Party Administrators d. Surveyors e. All the above intermediaries require IRDA’s licence/ approval 6. Each paper consists of 100 Multiple Choice Questions. Also explore over 11 similar quizzes in this category. State Government, C. Insurance Multiple Choice Questions and Answers for competitive exams. Insurance MCQ Life Insurance Basics What is the purpose of the buyer's guide? If a hybrid expresses a character, it is called _________ Epistasis. 2. The term ‘Risk’ includes: a. Contribution:. These short objective type questions with answers are very important for competitive exams like CAT, IBPS etc. Multiple choice Questions on Principles and Practices of Management. This document was uploaded by user and they confirmed that they have the permission to share Principle of Contribution, C. Section A: Multiple-Choice Questions Question 1. BCOM SECOND SEMESTER CORE PAPER PRINCIPLES OF INSURANCE QUESTION BANK 1. Mumbai, D. Test Video of MCQ for preparation of LICENTIATE Exam of Insurance Institute of India (I.I.I). General Insurance 9. D. strategic organization. An insurance contract […] Principle of Indemnity. It explains the concept of insurance and how it is used to cover risk. B. informal organization. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. Report DMCA, BCOM SECOND SEMESTER CORE PAPER PRINCIPLES OF INSURANCE QUESTION BANK 1. General Principles of Insurance / Chapter 1 1-5 2011 Edition §1.1-1 Basic Requirements Insurance is, essentially, a contract by which one party gives a consideration, typically paid in money, in exchange for a promise from another party to make a return payment if a certain loss has occurred. Overview of insurance laws in India 11. 1815. IC-01 Principles of Insurance Model Question Paper : IC-02 Practice of Life Insurance Model Question Paper : IC-11 Practice of General Insurance Model Question Paper : IC-14 Regulation of Insurance Business Model Question Paper : 1B) Model Question paper for Licentiate Examination-(HINDI) IC-01 Principles of Insurance Model Question Paper Which one of the following does not belong to the main products of life insurance? As an avenue for long-term investment b. E.g,Mr. The MCQ examination is a test of the principles and practice of medicine in the fields of Adult Health - Medicine, Adult Health - Surgery, Womens Health - Obstetrics & Gynaecology, Child Health, Mental Health and Population Health & Ethics. A. a. D. 1833. If your lecturer has requested that you send your results, please complete the routing information found at the bottom of your graded page and then click on the 'E-Mail Results' button. 1. Co-dominant. Total marks: 200 You must hand in this paper and any paper used for rough work to the supervisor when you leave the examination room. This chapter examines the legal environment of insurance contracts, including: fundamental legal principles, requirements to form an insurance contract, legal characteristics of insurance contracts, and insurance law as it applies to agency. It must be one of the first four courses you take in the CIP Program and CIP certification, but we highly recommend … Corporate Governance Guidelines for insurance companies 13. B. Contribution c. Co-insurance, Understanding 7 Basic Principles Of Insurance, Samurai+helmet+beetle_in+\'\'origami+insect+ii\'\'+[154-166]. Kolkata, B. Maximization of Profit, D. Concurrent Audit of Insurance companies 12. The main purpose of having Life insurance is: a. Max Life Insurance Company, C. The duration for the exam is 2 hours. Page 2. Eighth, B. Then, you will find this page worthy able. 1818. Insurance Awareness Multiple Choice Questions for LIC, NIACL and other competitive exams. B.Com Books & Study Materials in PDF Free Download for 1st, 2nd, 3rd years: Are you studying Bachelors of Commerce (B.Com) Degree? Utmost Good Faith, B. The Indian Contract Act B. Indian Factory Act C. Indian Companies Act D. The Indian finance Act ANSWER: A 2. Which type of organization has no place in the organization chart? LLM Question Bank Multiple Choice Questions on Law of Contract. A fire destroyed Ethan's store. How insurance is transacted as a business and how the insurance market operates are also explained. General Insurance Corporation was established during the year A. A. Dominant. 1955. It applies to any insurance which is a contract of indemnity. Course Code Course Name Cost; A-4: Estimating Unpaid Claims Using Basic Techniques SmartPractice Mock Tests(686 MCQ) Last updated: May 2020: Rs. Insurance contract is sort of contract which is approved by A. Answer: Option C. Solution: Maximization of Profit is not the principle of insurance. it. An actuary is expected to: a. Insurance is defined as the equitable transfer of risk of loss from one entity to another, in exchange for a premium. […] As a medium for getting income tax benefits from savings c. As a governmental programme for reducing poverty d. As an avenue for short-term investment e. None of the above 5. Bharat Life Insurance Company, A. 1972. When was the Oriental Life Insurance Company established? Multiple choice Questions on Insurance and Risk Management. Because here we have given the best B.com Books and Notes for all 3 years. Principles and Practice of Insurance is an overview of insurance in Canada and the initial building block of your Chartered Insurance Professional studies. Investigators determined the fire originated in the garbage dumpster … Evolution of Insurance law in India 5. Insurance Company, B. 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