IC38 Life – English Mock Test 1

Que. 1 : Which among the following is the regulator for the insurance industry in India ?
   1.  Insurance Authority of India
   2.  Insurance Regulatory and Development Authority of India
   3.  Life Insurance Corporation of India
   4.  General Insurance Corporation of India
Que. 2 : Which among the following is a secondary burden of risk ?
   1.  Business interruption cost
   2.  Goods damaged cost
   3.  Setting aside reserves as a provision for meeting potential losses in the future
   4.  Hospitalisation costs as a result of heart attack
Que. 3 : Which among the following is a method of risk transfer ?
   1.  Bank FD
   2.  Insurance
   3.  Equity shares
   4.  Real estate
Que. 4 : Which among the following scenarios warrants insurance ?
   1.  The sole bread winner of a family might die untimely
   2.  A person may lose his wallet
   3.  Stock prices may fall drastically
   4.  A house may lose value due to natural wear and tear
Que. 5 : Which of the below insurance scheme is run by an insurer and not sponsored by the Government ?
   1.  Employees State Insurance Corporation
   2.  Crop Insurance Scheme
   3.  Jan Arogya
   4.  All of the above

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