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English New IC33 Paper 1

Que. 1 : How many life insurance companies are operating in India currently ?

1.  20   2.  23   3.  26   4.  24

Que. 2 : Which among the following is a method of risk transfer?

1.  Real estate   2.  Insurance   3.  Equity shares   4.  Bank FD

Que. 3 : Which is the first life insurance company in the world?Which is the first life insurance company in the world?

1.  Bombay Mutual Assurance Society Ltd   2.  Amicable Society for a perpetual Assurance   3.  Lloyds Coffee House   4.  National Insurance Company Limited

Que. 4 : Which among the following scenarios warrants insurance?

1.  The sole bread winner of a family might die untimely   2.  Stock prices may fall drastically   3.  A person may lose his wallet   4.  A house may lose value due to natural wear and tear

Que. 5 : Who devised the concept of HLV?

1.  George Soros   2.  Prof hlubener   3.  Warren Buffet   4.  Dr. Martin Luther King

Que. 6 : In insurance context ‘risk retention’ indicates a situation where ___

1.  Property is covered by insurance   2.  Possibility of loss or damage is not there   3.  One decides to bear the risk and its effects   4.  Loss producing event has no value

Que. 7 : The measures to reduce chances of occurrence of risk are known as _____

1.  Risk avoidance   2.  Loss prevention   3.  Risk transfer   4.  Risk retention

Que. 8 : By transferring risk to insurer, it becomes possible _______

1.  To ignore the potential risks facing our assets   2.  To make money from insurance in the event of a loss   3.  To become careless about our assets   4.  To enjoy peace of mind and plan one’s business more effectively

Que. 9 : Which of the below is not an element of the life insurance business?

1.  Risk   2.  Asset   3.  Subsidy   4.  Principle of mutuality

Que. 10 : Which of the following statement is true?

1.  Insurance pays when there is loss of asset   2.  Insurance reduces possibilities of loss   3.  Insurance prevents its loss   4.  Insurance protects the asset

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