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Insurance Management Practice Test
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Avg score: 50% • Most missed: “A contract of insurance is a ________ agreement.”
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Insurance Management Practice Test
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25 Questions

1. Which of the following insurance contract is not based on the principle of indemnity.
2. _________ is a contract between two insures i.e. original insurer and another insurer.
3. An insurance policy will be only if ________ is paid
4. When the amount for which a subject matter is insured is more than its actual value, it is called _________
5. In India ……….controls and regulate the rates, advantages , terms and conditions that may be offered by insures in respect of general insurance business relating to marine (hull) ,motor ,engineering and workmen compensation.
6. Marine insurance is for one year or for a specified ________
7. Intimation of Death is the information of death to the ________
8. ________ means goods or commodities carried in a ship
9. RPG rule 1988 set up an institution for building the confidence of the policy holders in insurance.
10. Crop insurance scheme came into existence in India in ________
11. __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.
12. …………are agents but they can sell policies of several life and non-life insurance companies at a time.
13. Property Insurance may not include ___________
14. From the following which is not a content of the letter of intimation
15. Select the expanded form of OR as commonly used in life insurance
16. _______ involves proportionate sharing of the insurance among more than one insurer.
17. The purpose of ………. Are to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss.
18. The things or property insured is called ________ of the insurance
19. To provide the insured a speedy and inexpensive grievance redressal system ,the Govt.of India promulgated…………
20. Which of the following covers is dissimilar to the other four options?
21. A policy where the policyholder makes a one-time payment of premium, is known as a ______________:
22. Which clause specifies the perils insured in a scheduled form of policy?
23. The LIC of India was set up in ……..to take over 245 life companies.
24. ________ is a plan designed for businessmen and professionals as money is available periodically.
25. Which of the following terms matches closest with ‘Foreclosure’?

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