The cost of insurance and taxes are included in A. Cost of ordering B. Set up cost C. Inventory carrying cost D. Cost of..
Category : Insurance MCQs
In what way does a deductible help an insurance company? a) It adds to the company’s pool of funds. b) It increases consumers’ insurance premiums. c) It lowers the payout the company has to make. d) It reduces consumers’ co..
Who elects the governing body of a mutual insurance company A) chairman of the board B) bondholders C) stockholders D) pol..
The unexpired insurance at the end of the fiscal period represents a) an accrued asset b) an accrued liability c) an accrued expense d) a deferr..
Which among the following scenarios warrants insurance? A) The sole bread winner of a family might die untimely leaving the entire family to fend for itself, such a scenario warrants purchasing of life insurance. B) A person may lose his wallet C) Stock prices may fall drastically D) A house may lose value due to ..
Which among the following is a secondary burden of risk? A) Business interruption cost B) Goods damaged cost C) Setting aside reserves as a provision for meeting potential losses in the future is a secondary burden of risk. D) Hospitalisation costs as a result of he..
Which among the following is the regulator for the insurance industry in India? a)Insurance Authority of India b) Insurance Regulatory and Development Authority c) Life Insurance Corporation of India d) General Insurance Corporatio..
A commercial property coverage part with the basic causes of loss form attached covers all of the following perils except which one? a) Windstorm b) Explosion c) Volcanic eruption d) Sprinkl..
State which of the statements given below is correct . a. An organisation can exist only with employees b. An organisation can exist only with different sections c. An organisation can exist only with its own office building d. An organisation can exist without a purpose e. An organisation will grow as yea..
A policy where the policyholder makes a one-time payment of premium, is known as a ______________: a. Money-back policy b. Single premium policy c. Salary Savings Scheme policy d. Half-yearly policy e. Ann..