Test Page 1 of 2

Assessment Title : Chapter2 Total Questions : 10

Module : 2.Introduction to Insurance Total Marks : 10

Q1. Mr. Kunal used to participate in Car race. While taking up the Insurance policy he disclosed this information. What kind of hazard does it refers to
Physical hazard

Fraudulent representation

Moral hazard

Peril

Q2. Pure risks are those risks where there is

Loss or no loss

Gain or no gain

Possibility of any benefits occurring

No Possibility of Gain

Q3. The components of risk include

Peril /Hazard

Level of Risk

Uncertainty

All Above

Q4. Akshat is a relatively cautious person. In insurance terms this will normally increase the likelihood that he will
be considered an above average insurance risk

be considered a below average insurance risk

require insurance cover

require reinsurance cover

Q5. Which of the following risks are insurable?

Financial Risk

Non-financial Risk

Both are correct

None of them

Q6. will not prevent the event happening?

IRDA

agent

Insurance

none

Q7. Mr. Kunal used to participate in Car race. While taking up the Insurance policy he disclosed this information. What kind of hazard does it refers to
Occupational Hazard

Fraudulent representation

Moral hazard

Peril

Q8. There are two different groups of 100 people. The first group isbetween 30-39 years of age. Of these one person dies before the age26 Probability of death in
this case is 1%. The second group is aged60-69 years of these 15 die before the age of 61. The probability of death in this case is 15%.
This shows that frequency of death is high in younger group

. This shows that frequency of death is low in higher agegroups

This shows that frequency of death is high in higher age

This shows that frequency of death is same in any age groups

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Test Page 2 of 2
Q . A hazard can be defined as
A specific event which might cause a loss

The chance of damage or loss

A condition that either increases the chance of a peril happening or cause its effect to be worse

Uncertainty of an event happening.

Q1 . Which of the following cannot be insured?

Financial risk

Particular risk

Pure risk

Speculative risk

u mit Assessment an el

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