Risk Indian Chapter 5

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

Which of the following statement is least likely related to an agent?

Which of the following statement is correct related to an insurance broker?

Which of the following statement is correct? Statement A: Life insurance is not a contract of indemnity. Statement B: Non-life insurance is a contract of indemnity.

Which of the following statement is correct in regard to family floater health insurance plan?

The premium paid for health insurance policy is allowed for tax deduction:

What will be the total amount of premium allowed as deduction under section 80 D for an individual who has taken a family floater plan covering spouse and two children paid premium of 35000 and for his parents above age 60 paid premium 52000?

A client wishes to take a health insurance for his independent son and daughter. And also wants take the deduction of premium paid in income tax. Premium paid 22000.Is he allowed to do the same?

Agriculture insurance provide cover for:

Which of the following statement is incorrect with reference to Credit insurance:

When different insurance companies share the risk by purchasing insurance policy from other insurers to limit their own total loss refer to:

Which of the following is least likely related to reinsurance?

Cross border reinsurers include:

If an insurer transfers a part of risk insured by him to another insurer by taking reinsurance to reduce its future liability of claims and it can lower the amount of capital required to stay in good financial health to pay the claims of its policyholders. The process refers to :

Liability Insurance if taken by a person most likely provide protection against:

Which of the following statement is correct? Statement 1: Public liability insurance also cover people or establishments involved in hazardous and criminal activities. Statement 2: Public liability insurance covers costs from legal action if any individual or entity is found liable for injury or death of another person economic loss or damage of property of another person resulting from any negligence on their part

Which of the following is least likely a feature of Professional indemnity

Payment of Gratuity Act applies to organisation with:

Which of the following statement is correct? Statement 1: Gratuity is payable to an employee (or to a nominee in case of his death) who has rendered continuous service of 5 years or more at the time of his termination of employment superannuation retirement or resignation. Statement 2: Gratuity is payable to an employee even before completion of 5 years of service in case of termination of employment is due to death or disablement due to accident or disease.

Which of the following are the factors on which gratuity depend:

As per the Motor vehicle Act each vehicle should compulsory have :

—set up under the provisions of the Motor Vehicles Act 1988 to provide a speedier remedy to the victims of motor vehicle related accidents.

A own damage insurance policy provide cover for:

“—a legal document which helps the insurance company evaluate all the potential risks in relation to the insurance policy being offered.

“—in an insurance policy is the declaration by the insurer and identifies the type of agreement the date on which the agreement is signed parties to the agreement their status and their addresses.

“—defines what is covered by the policy.

—provides details of the insured’s policy including full description of properties covered which are in force the period of cover against the properties described the amount of coverage the exclusions the deductibles and the payment mode and schedule.