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Risk Management and Insurance
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Banking Specialization

Risk Management and Insurance
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25 Questions

1. Subrogation means ______ Risk Management and Insurance 5
2. Which one of the following statement is correct?
3. The reason for charging level premium is _______
4. The first step in risk management process is
5. The premium actually paid by the policy holder depends upon___________
6. A human life is an income-generating asset______________
7. Who are the beneficiaries of Insurance?
8. The term ‘run off’ or ‘fully declared’ refers to ___________
9. On the death of the bread-earner, two losses occur in the family-one is loss of human life and the other _____
10. The principle of prevention is better than cure refers to __________
11. The principle of indemnity is applicable to _______ only.
12. Guarantees for employer for the loss out of employee's dishonest is_____________.
13. Broker’s Association of India was granted recognition by IRDA on _________.
14. Any risk involved a situation where there is a possibility of gain refers to ________
15. What is full form of FPA in the context of marine underwriting?
16. Which of the following risks are insurable?
17. Which one of the following statements is correct?
18. The proportion of the risk which the direct insurer holds on his own account refers to ___________
19. The person whose risk is insured a is called ____________
20. When the same risk and subject matter is insured with more than one insurer is called as _______
21. If the interest rates in the market are higher, then cost of insurance _________.
22. ________ involved those losses that occur even if there were no changes in the economic environment.
23. Facts which need to be disclosed is ____
24. Except life assurance the maximum term of other insurance is _________
25. Risk management follows a systematic process which involves _______ steps.