MBA/MBA Insurance and Risk Management Mcq Set 1 Sample Test,Sample questions

Question:
A bancassurance started in India was ____

1.2002

2.2003

3.2001

4.2000


Question:
A complete proposal form contains information about _______

1.Moral hazard

2.Physical hazard

3.Personal history of proposer and identify of the property insurance

4.All of the above


Question:
A firm may seek to minimize marketing risks by undertaking _______

1.Credit Facilities

2.Training Salesmen

3.Market Research

4.Branch Expansion


Question:
A person employed to do any act for another or to represent another in dealing with a third person refers to _______

1.Principal

2.Employee

3.Agent

4.Development Officer


Question:
An alternative approach to the check list is ______

1.Threat Analysis

2.Event Analysis

3.Operability Study

4.Minimum Level Analysis


Question:
An instrument by which a pure risk is transferred by a party other than insurer is

1.Insurance

2.Retention.

3.Non Insurance Transfer.

4.Reinsurance.


Question:
Cost of risk has the following components _______

1.Cost of Expected Losses and Cost of Control of Loss

2.Cost of Expected Losses and Cost of Loss Financing

3.Cost of Control of Loss and Cost of Loss Financing

4.Cost of Expected Loss, Cost of Control of Loss Cost of Financing, Cost of Residual Uncertainity


Question:
If RMIS has poor system documentation then the remedy is to provide ____

1.solid vendor account team

2.solid vendor account team

3.assessment in proper manner

4.clear and comprehensive specifications


Question:
If RMIS has the problem of incompatibility of software then the remedy is to provide _____

1.solid vendor account team

2.internal access to system expert

3.clear and comprehensive specifications

4.financial check


Question:
Insurance contract is sort of contract which is approved by ______

1.The Indian Contract Act

2.Indian Factory Act

3.Indian Companies Act

4.The Indian finance Act


Question:
Insurance is a risk management technique involving

1.Risk Retention

2.Risk Avoidance

3.Loss Control

4.Risk Transfer


Question:
Insurance is best suited to risk with ________

1.high frequency and low loss severity.

2.low frequency and high loss severity.

3.minimum frequency and no loss severity.

4.high frequency and high loss severity.


Question:
Losses arising due to a risk exposure retained or assured is known as _____

1.Risk Reduction

2.Risk Financing

3.Risk Retention

4.Risk Sharing


Question:
Pure Risk was grouped ________

1.Property Risk

2..Personal Risk

3.Liability risk

4.All the above.


Question:
Restoring a policy holder to his pre-loss financial position means _______

1.Contribution

2.Indemnity

3.Goodwill

4.LiquidAsset


Question:
Risk Management is a subject which falls under ________

1.production

2.HR

3.marketing

4.finance


Question:
Risk Management process includes ______

1.Risk Analysis

2.Risk Control

3.Risk Analysis and Control

4.Risk Reduction


Question:
Risk retention means _______

1.Saving money to pay for the losses

2.Accepting and agreeing to finance the loss oneself

3.Not taking up any activity which is risky

4.Insuring the risk


Question:
That which covers the cost of self insurance, loading in insurance premiums and enforcing hedging arrangements is ________

1.Cost of Loss Financing

2.Cost of Control of loss

3.Cost of Residual Uncertainty

4.Cost of Internal Risk Reduction


Question:
That which is designed to improve the information on which decisions are take to reduce risk is ____

1.Transfer

2.Research.

3.Costs.

4.Deflation.


Question:
The company doing the insurance business is called ________

1.Mutual funds

2.Non-banking firm

3.An insurance company

4.Banking company


Question:
The first step in risk management process is ________

1.Riskavoidance

2.Risk Identification

3.Insurance

4.Risk Evaluation


Question:
The foundation for risk Management is provided by ________

1.Risk Control

2.Risk Analysis

3.Risk Identification

4.Risk Retention


Question:
The installation of heat or smoke activated sprinkler systems that are designed to minimize fire damage in the outbreak of a fire is an example of ______

1.Loss prevention

2.Loss reduction

3.Hedging

4.Insurance


Question:
The Insurance is a _______

1.Contract

2.Uncertainty

3.Peril

4.Hazard


Question:
The measures aimed at avoiding eliminating or reducing the chances of loss production is covered by _____

1.Risk Control

2.Risk Retention

3.Risk Avoidance

4.Risk Financing


Question:
The medias used for direct marketing are

1.Direct Mail

2.Telephone Contacts

3.Kiosks

4.All the above.


Question:
The Person whose risk is insured is called ______

1.Insured

2.merchandiser

3.marketer

4.Agents


Question:
The possibility that actual results may differ from predicted results is known as ______

1.Risk.

2.Uncertainty.

3.Peril.

4.Hazards.


Question:
The principle of indemnity is applicable to ______ only.

1.Life Insurance

2.Personal accident insurance

3.Proximate Cause

4.Property insurance


Question:
The principles of indemnity does not apply to ______

1.Burglary insurance

2.Fire insurance

3.Marine insurance

4.Life and Personal Accident insurance


Question:
The process of reducing the level of risky activities firstly affect the frequency of losses is the strategy of _____

1.Risk avoidance

2.Retention

3.Hedging

4.Other contractual risk transfer


Question:
The risk management can be done by ______

1.Insurance

2.Hedging

3.Derivatives

4.All of the above


Question:
The risk manager maybe able to identify the new ventures involved in _______

1.Pure risk.

2.Group Risk.

3.Speculative risk.

4.Particular risk.


Question:
The risk that arises because of magnitude of cash flow due to change in output and input prices is known as ______

1.Credit risk

2.Particular risk

3.Business risk

4.Price risk


Question:
The risk which has three outcomes with possibility of gain is _____

1.Pure

2.Speculative

3.Static

4.Dynamic


Question:
The strategy pursued by the business firms to tackle risk by spreading into a number of business is _____

1.Diversification

2.Centralisation

3.Risk Retention

4.Financing


Question:
The success of whole process of risk management depends on its __________

1.Identification

2.Risk analysis

3.Assessment of risk

4.Evaluation of risk


Question:
The term Assurance refers to _______

1.Life Insurance Business

2.Marine Insurance Business

3.Fire Insurance Business

4.Motor Vehicle Business


Question:
This policy covers all risks to the ship and its cargo while the ship is at a particular port ______

1.Voyage policy

2.Floating policy

3.Time policy

4.Portrisk Policy


Question:
To avoid RMIS being obsolete provide ______

1.solid vendor account team

2.internal access to system expert

3.standard software configuration

4.clear and comprehensive specifications


Question:
Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called _____

1.Insurable interest

2.Subrogation

3.Proximate clause

4.Money back policy


Question:
Uncertain events are broadly classified as ______

1.Predictable and Unpredictable.

2.Possible and Impossible

3.Natural and Artificial.

4.Rare and Continuous


Question:
Which of the following is the last step in the risk management process?

1.Insurance

2.Review

3.Risk evaluation

4.Loss prevention


Question:
Which of the statements is correct? a. Insurance is a transfer of risk mechanism. b. Insurance gives physical protection to assets.

1.Statement A

2.Statement B

3.Both the statements

4.Neither of the statements


Question:
______ policy matures on the assured death or on his attainment of a particular age whichever occurs earlier.

1.Endowment

2.Money back

3.Joint life

4.Single premium


Question:
_______ is the extra payment done for administrative and capital cost.

1.Premium

2.Premium loading

3.Interest

4.Contingency


Question:
________ are the risk management methods

1.Insurance

2.Hedging

3.Derivatives

4.All the above.


Question:
_________ is those terms, which are implied in every contract of marine insurance unless they are expressly excluded.

1.Guarantee

2.Express Warranties

3.Implied Warranties

4.Waiver Clause


Question:
_________ refers to distribution of insurance products through

1.Bank

2.Company

3.Co-operatives

4.Sole trader


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  31. MBA Behavioural and Allied Sciences MCQ Set 8
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  34. MBA Brand Management MCQ Set 1
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  36. MBA Brand Management MCQ Set 3
  37. MBA Brand Management MCQ Set 4
  38. MBA Brand Management MCQ Set 5
  39. MBA Business Communication MCQ Set 1
  40. MBA Business Communication MCQ Set 2
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  42. MBA Business Communication MCQ Set 4
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  44. MBA Business Communication MCQ Set 6
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  50. MBA Business Economics MCQ Set 1
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  52. MBA Business Economics MCQ Set 3
  53. MBA Business Economics MCQ Set 4
  54. MBA Business Economics MCQ Set 5
  55. MBA Business Economics MCQ Set 6
  56. MBA Business Environment MCQ Set 1
  57. MBA Business Environment MCQ Set 2
  58. MBA Business Environment MCQ Set 3
  59. MBA Business Environment MCQ Set 4
  60. MBA Business Environment MCQ Set 5
  61. MBA Business Environment MCQ Set 6
  62. MBA Business Environment MCQ Set 7
  63. MBA Business Environment MCQ Set 8
  64. MBA Business Environment MCQ Set 9
  65. MBA Business Ethics and Governance MCQ Set 1
  66. MBA Business Law Mcq Set 1
  67. MBA Business Law Mcq Set 2
  68. MBA Business Law Mcq Set 3
  69. MBA Business Law Mcq Set 4
  70. MBA Business Law Mcq Set 5
  71. MBA Business Law Mcq Set 6
  72. MBA Business Law Mcq Set 7
  73. MBA Business Law Mcq Set 8
  74. MBA Business Law Mcq Set 9
  75. MBA Business Mathematics Mcq Set 1
  76. MBA Business Mathematics Mcq Set 2
  77. MBA Business Mathematics Mcq Set 3
  78. MBA Business Mathematics Mcq Set 4
  79. MBA Business Mathematics Mcq Set 5
  80. MBA Business Mathematics Mcq Set 6
  81. MBA Business Statistics Mcq Set 1
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  85. MBA Computers In Management Mcq Set 3
  86. MBA Computers In Management Mcq Set 4
  87. MAB Cost and Managerial Accounting Mcq Set 1
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  89. MBA Cost and Managerial Accounting Mcq Set 2
  90. MBA Cost and Managerial Accounting Mcq Set 3
  91. MBA Cost and Managerial Accounting Mcq Set 4
  92. MBA Cost and Managerial Accounting Mcq Set 5
  93. MBA Cost and Managerial Accounting Mcq Set 6
  94. MBA Cost and Managerial Accounting Mcq Set 7
  95. MBA Cost and Managerial Accounting Mcq Set 8
  96. MBA Cost and Managerial Accounting Mcq Set 9
  97. MBA Cost and Managerial Accounting Mcq Set 10
  98. MBA Cost and Managerial Accounting Mcq Set 11
  99. MBA E-Business MCQ Set 1
  100. MBA E-Business MCQ Set 2
  101. MBA E-Business MCQ Set 3
  102. MBA E-Business MCQ Set 4
  103. MBA English Language MCQ Set 1
  104. MBA English Language MCQ Set 2
  105. MBA Entrepreneurship Management MCQ Set 1
  106. MBA Entrepreneurship Management MCQ Set 2
  107. MBA Entrepreneurship Management MCQ Set 3
  108. MBA Entrepreneurship Management MCQ Set 4
  109. MBA Entrepreneurship Management MCQ Set 5
  110. MBA Entrepreneurship Management MCQ Set 6
  111. MBA Financial Management MCQ Set 1
  112. MBA Financial Management MCQ Set 2
  113. MBA Financial Management MCQ Set 3
  114. MBA Financial Management MCQ Set 4
  115. MBA Financial Management MCQ Set 5
  116. MBA Financial Management MCQ Set 6
  117. MBA Financial Management MCQ Set 7
  118. MBA Financial Management MCQ Set 8
  119. MBA Financial Management MCQ Set 9
  120. MBA Financial Management MCQ Set 10
  121. MBA Financial Management MCQ Set 11
  122. MBA Financial Management MCQ Set 12
  123. MBA Human Resource Management Mcq Set 1
  124. MBA Human Resource Management Mcq Set 2
  125. MBA Human Resource Management Mcq Set 3
  126. MBA Human Resource Management Mcq Set 4
  127. MBA Human Resource Management Mcq Set 5
  128. MBA Human Resource Management Mcq Set 6
  129. MBA Human Resource Management Mcq Set 7
  130. MBA Human Resource Management Mcq Set 8
  131. MBA Insurance and Risk Management Mcq Set 1
  132. MBA Insurance and Risk Management Mcq Set 2
  133. MBA Insurance and Risk Management Mcq Set 3
  134. MBA Insurance and Risk Management Mcq Set 4
  135. MBA Insurance and Risk Management Mcq Set 5
  136. MBA Insurance and Risk Management Mcq Set 6
  137. MBA Management Information Systems Mcq Set 1
  138. MBA Management Information Systems Mcq Set 2
  139. MBA Management Information Systems Mcq Set 3
  140. MBA Management Information Systems Mcq Set 4
  141. MBA Management Information Systems Mcq Set 5
  142. MBA Management Information Systems Mcq Set 6
  143. MBA Management Information Systems Mcq Set 7
  144. MBA Management Information Systems Mcq Set 8
  145. MBA Management Information Systems Mcq Set 9
  146. MBA Marketing Management Mcq Set 1
  147. MBA Marketing Management Mcq Set 2
  148. MBA Marketing Management Mcq Set 3
  149. MBA Marketing Management Mcq Set 4
  150. MBA Marketing Management Mcq Set 5
  151. MBA Marketing Management Mcq Set 6
  152. MBA Marketing Management Mcq Set 7
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  154. MBA Marketing Management Mcq Set 9
  155. MBA Marketing Management Mcq Set 10
  156. MBA Marketing Management Mcq Set 11
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  160. MBA Media Planning Mcq Set 2
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  162. MBA Media Planning Mcq Set 4
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  164. MBA Operations Research Mcq Set 2
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  166. MBA Operations Research Mcq Set 4
  167. MBA Operations Research Mcq Set 5
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  170. MBA Organisational Behavior Mcq Set 3
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  184. MBA Production and Operations Management Mcq Set 4
  185. MBA Production and Operations Management Mcq Set 5
  186. MBA Production and Operations Management Mcq Set 6
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  196. MBA System Analysis and Design Mcq Set 6
  197. MBA System Analysis and Design Mcq Set 7
  198. MBA System Analysis and Design Mcq Set 8
  199. MBA System Analysis and Design Mcq Set 9
  200. MBA Total Quality Management Mcq Set 1
  201. MBA Total Quality Management Mcq Set 2
  202. MBA Total Quality Management Mcq Set 3
  203. MBA Total Quality Management Mcq Set 4
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