MBA/MBA Insurance and Risk Management Mcq Set 2 Sample Test,Sample questions

Question:
A bancassurance concept originated in _________

1.England

2.Finland

3.France

4.Spain


Question:
All dynamic risks are ______

1.predictable

2.Unpredictable

3.Possibility

4.Judgement


Question:
All of the following are social costs associated with insurance Except _______

1.increased cost of capital

2.the expense of doing business

3.fraudulent claims

4.inflated claims


Question:
An insurance company estimates its objective risk for 10,000 exposures at 10 Per cent. Assuming the probability of loss remains the same, what would happen to the objective risk if the number of exposures were to increase to 1 million?

1.It would decrease to 1 percent

2.It would decrease to 5 percent

3.It would remain the same

4.It would increase to 20 percent


Question:
Assignment of life policy means ________

1.Assignment of life policy means ________

2.Policy holder is entitled to the paid up value

3.Paid up value is always higher than surrender value

4.Value payable on assured death or maturity


Question:
Bancassurance means _______

1.Selling financial services

2.general liability insurance

3.Selling banking products

4.Selling Insurance Products


Question:
Credit Risk is high in case of ____

1.Companies

2.Partnership

3.Financial Institutions

4.None of these


Question:
Credit Risk is high in case of _____

1.Companies

2.Partnership

3.Financial Institutions

4.None of these


Question:
Dynamic risks are closely related to ______

1.Speculative risks

2.Static Risks

3.Personal Risks

4.Particular


Question:
Except life assurance the maximum term of other insurance is _______

1.twelve months

2.twenty four months

3.six months

4.thirty six months


Question:
Fire insurance can be taken in respect of _______

1.movable property only

2.immovable property only

3.both movable and immovable properties

4.persons only


Question:
Franchise and aggregate excess of loss are two variations of _______

1.Coinsurance

2.Excess of Loss

3.First Loss

4.Proximate Cause


Question:
Identification of sources of hazard will have to be done by the ______

1.Production manager

2.Risk manager

3.Finance manager

4.General manager.


Question:
If RMIS shows lack of service then you need to provide _______

1.reference checks including on site

2.assessment in proper manner

3.financial check

4.standard software configuration


Question:
If the premium loading is zero then purchasing insurance ________

1.does not change the persons expected wealth

2.changes the persons expected wealth

3.increases the variability of wealth

4.no change in expected wealth


Question:
Insurance cover ________

1.Protect assets

2.Prevents loss

3.Reduces the impact of loss

4.Insurances immortality


Question:
Insurance is a risk management technique involving _________

1.Risktransfer

2.Riskretention

3.Riskavoidance

4.Losscontrol


Question:
Loss control involves a combination of __________

1.effort and time

2.fund and time

3.funds effort or time

4.effort and fund


Question:
Malhotra Commitee was appointed in

1.1993

2.1994

3.1999

4.2000.


Question:
Marine perils is also called as _______

1.Perils of the Sea

2.Moral Hazards

3.MarineClause

4.Marinelaws


Question:
Personnel risk in a firm depends upon the ability integrity and enthusiasm of _______

1.Creditors

2.Debtors

3.Debtors

4.Management and Employees


Question:
Risk insured against death is a contract of __________

1.Assurance

2.Agreement

3.Indemnity

4.Caveat Emptor


Question:
Risk of premature death is a ________

1.Financial Risk

2.Dynamic Risk

3.Subjective Risk

4.Personal Risk


Question:
Taylor Tobacco Company is concerned that the company may be held liable in a court of law and forced to pay a large damage award. The characteristics of the judicial system that increase the frequency and severity of losses is known as _______

1.moral hazard

2.particular risk

3.speculative risk

4.legal hazard


Question:
The 5th chapter of Factories Act deals with _______

1.Safety

2.Welfare

3.The Inspecting Staff

4.Marketing Manager


Question:
The agreement refers to _______

1.Offer

2.Acceptance

3.Free Consent

4.All the above.


Question:
The business of insurance is related to protection of ______

1.Savings

2.Status

3.Profits

4.Economic value of assets


Question:
The cause of loss or a contingency that may cause a loss due to nature is known as _______

1.Hazard

2.Peril

3.Risk

4.Uncertinity


Question:
The claim amount received from insurer are treated as _____

1.Nontaxable Income

2.TaxableGain

3.Gains

4.Reserve


Question:
The cost of uncertainty that remains once the firm has selected and implemented loss control loss financing and internal risk reduction is called ______

1.Cost of Residual Uncertainty

2.Cost of Expected Losses

3.Cost of Price Change

4.Cost of Loss Control


Question:
The expected value of losses varies directly with the ______

1.time period

2.financial period

3.fixed period

4.fluctuating period


Question:
The insurance plays a role in the economic development of the country in the following ways _______

1.Releases capital for new investments

2.The job potential increases

3.Money collected is invested in infrastructure

4.All of the above


Question:
The main aim of risk Financing is to _______

1.Control the risk

2.Avoid the Risk

3.Spread the Risk

4.Financing the Risk


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

1.Risk Avoidance

2.Risk Control

3.Risk Evaluation

4.Risk Financing


Question:
The methods of risk management are ______

1.Loss Control

2.Loss Financing

3.Internal Risk Reduction

4.All of the above


Question:
The number of elements of uncertainty in most type of events are _____

1.Three

2.Two

3.One

4.five


Question:
The risk management which refers to the identification of pure risk faced by an individual or family is ________

1.Corporate

2.Individual

3.Joint Stock Companies

4.Partnership Firm


Question:
The risk which arises because of change in major economic, social, cultural and political factors are ______

1.ParticularRisk

2.Fundamental Risk

3.Speculative Risk

4.Dynamic Risk


Question:
The risk which directly affects the individual's capability to earn income is called ___

1.Personal Risk

2.Risk Financing

3.Risk Retention

4.Risk Sharing


Question:
The Risks which have some financial impact from the part of risk management are ________

1.Dynamic and Speculative Risk

2.Pure and Speculative Risk

3.Pure and Static Risk

4.Personal and Static Risk


Question:
The situation of doubt in mind about the happening or not happening of anything in future because of lack of knowledge ________

1.Risk

2.Uncertainty

3.Loss

4.Hazards


Question:
The System that brings together the operative causes of perils is _____

1.Risk Evaluation

2.Safety Audit

3.Risk Financing

4.Fault Tree Analysis


Question:
Transfer of risk to other party is done through _____

1.Reduction

2.Control

3.Retention

4.Insurance


Question:
Type of Risk Management are _____

1.Risk Retention,Risk Analysis,Risk Financing

2.Risk Analysis,Risk Control,Risk Financing

3.Risk Control,Risk Retention,Risk Avoidance

4.Risk Analysis,Risk Control,Risk Financing


Question:
When an event is stated to be possible, it has a probability between _______

1.Zero and One

2.Zero or One

3.None of these

4.Both of the above


Question:
When the subject matter insured is destroyed wholly refers to _______

1.Partial loss

2.Actual total loss

3.Constructive total loss

4.Maximum loss


Question:
Which of the following helps in risk improvement?

1.Fire brigade

2.Salvage corps

3.Engineers who survey property to be insured

4.Ambulance


Question:
Which of the following helps in Risk improvement?

1.Fire brigade

2.Salvage crops

3.Engineers who survey property to be insured

4.Ambulance


Question:
_______ is an agreement where by the insurer agrees to indemnity the insured against marine losses.

1.Life insurance

2.Fire insurance

3.Marine insurance

4.Public liability insurance


Question:
________ is a document which provides evidence of the contract of insurance

1.Proposal form

2.Policy form

3.Cover note

4.Certificate of insurance


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  54. MBA Business Economics MCQ Set 5
  55. MBA Business Economics MCQ Set 6
  56. MBA Business Environment MCQ Set 1
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  59. MBA Business Environment MCQ Set 4
  60. MBA Business Environment MCQ Set 5
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  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
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  78. MBA Business Mathematics Mcq Set 4
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  90. MBA Cost and Managerial Accounting Mcq Set 3
  91. MBA Cost and Managerial Accounting Mcq Set 4
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  94. MBA Cost and Managerial Accounting Mcq Set 7
  95. MBA Cost and Managerial Accounting Mcq Set 8
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  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
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  116. MBA Financial Management MCQ Set 6
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  118. MBA Financial Management MCQ Set 8
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  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
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  130. MBA Human Resource Management Mcq Set 8
  131. MBA Insurance and Risk Management Mcq Set 1
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  136. MBA Insurance and Risk Management Mcq Set 6
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  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
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