5/2/2019 Test

Assessment Title : Chapter1 Total Questions : 10

Module : 1.HISTORY OF LIFE INSURANCE Total Marks : 10

Q1. In life insurance industry which mechanism operates so as to enable the individuals to reduce the impact of risks
Prevention of risk

Pooling of risk

Transfer of risk

Sharing of risk

Q2. �����..means before loss what was his financial status and for the same financial status to bring him is called
A indemnity

material information

utmost goodfaith

none of the above

Q3. The most important recent development in Insurance business is

Set up of customer services desk

Set up of Grievance Redressal procedure

Set up of Call center

Set up of Health Insurance companies

Q4. Reinsurance means

Purchase of additional insurance by an insured person

Bringing into force a lapsed policy

Insurers seeking transfer of risk to shield themselves from over insurance

An individual insuring with different insurance companies

Q5. What is the maximum sum assured under a micro insurance

10000

25000

50000

100000

Q6. An insurer advertises through daily newspaper. What type of marketing is

Cross selling

Direct selling

Solicitation of policy

Brand building

Q7. I.R.D.A was incorporated as a Statutory body in

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5/2/2019 Test
Dec-1999

Jun-1994

Apr-2000

Jun-2001

Q8. The Foreign Firect Investment (FDI) in Indian Insurance Industry is allowed up to.....
0%

0%

0%

0%

Q9. Weekly premiums are generally collected for which type/range of plans
Banca assurance

Health plans

Micro Insurance

Term Insurance

Q10. Currently major percentage of insurance sales in India takes place through

Insurance Brokers

Corporate agents

Bancassurance channel

Individual insurance agents

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