Podcast
Questions and Answers
Which organization is the regulator for the insurance industry in India?
Which organization is the regulator for the insurance industry in India?
- Life Insurance Corporation of India
- Insurance Authority of India
- General Insurance Corporation of India
- Insurance Regulatory and Development Authority of India (correct)
Which of the following is a secondary burden of risk?
Which of the following is a secondary burden of risk?
- Hospitalization costs as a result of heart attack
- Business interruption cost
- Setting aside reserves as a provision for meeting potential losses in the future (correct)
- Goods damaged cost
Which of the following is a method of risk transfer?
Which of the following is a method of risk transfer?
- Bank FD
- Insurance (correct)
- Equity shares
- Real estate
Risk transfer through risk pooling is called:
Risk transfer through risk pooling is called:
Which scenario warrants insurance?
Which scenario warrants insurance?
Which insurance scheme is run by an insurer and not sponsored by the Government?
Which insurance scheme is run by an insurer and not sponsored by the Government?
Which of the following statements about insurance is true?
Which of the following statements about insurance is true?
In insurance context, what does 'risk retention' indicate?
In insurance context, what does 'risk retention' indicate?
Why do insurers arrange for survey and inspection of the property before acceptance of a risk?
Why do insurers arrange for survey and inspection of the property before acceptance of a risk?
What should be the annual contribution of each house owner to make good the annual loss of Rs. 80,000 from 4 burnt houses, each valued at Rs. 20,000?
What should be the annual contribution of each house owner to make good the annual loss of Rs. 80,000 from 4 burnt houses, each valued at Rs. 20,000?
Which of the following best describes the process of insurance?
Which of the following best describes the process of insurance?
What is meant by customer lifetime value in insurance?
What is meant by customer lifetime value in insurance?
Identify the scenario where a debate on the need for insurance is not required.
Identify the scenario where a debate on the need for insurance is not required.
The origins of modern insurance business can be traced back to which of the following?
The origins of modern insurance business can be traced back to which of the following?
