Risk Indian Chapter 1

Which of the following is most likely responsible for regulation and development of insurance industry in India?

Which of the following statement is correct? Statement A: Insurance penetration is measured as the percentage of insurance premium to GDP while insurance density is the ratio of premium to population.Statement B: Insurance density is measured as the percentage of insurance premium to GDP while insurance penetration is the ratio of premium to population.

Which of the following is least likely a type of general insurance?

Securities Appellate Tribunal (SAT) is most likely:

Which of the following is most likely a feature of agency relationship?

Which of the following statement correctly define Doctrine of waiver?

Which of the following is least likely related to equitable estoppel?

Which of the following statement is correct: Statement 1 Assume an individual fails to disclose some information in the insurance proposal form and the insurer does not request that information and issues the insurance policy it represents a waiver. Now in future when a claim arises the insurer cannot question the contract on the basis of non-disclosure. This is estoppel. Statement 2 Assume an individual fails to disclose some information in the insurance proposal form and the insurer does not request that information and issues the insurance policy it represents estoppel. Now in future when a claim arises the insurer cannot question the contract on the basis of non-disclosure. This is waiver.

The Motor Vehicles Act 1988 regulates all aspects of road transport vehicles in India. Which one of the following is a correct provision of Motor Insurance under the Act?

There are four insurance concepts that apply to insurance law that affect the operation of the insurance policy. The transfer of rights and entitlements from one individual to another most likely falls under which of the concepts:

The insurance industry is of prime significance for any country’s economic development.