Insurance Awareness Quiz – Set 59
Insurance Awareness Quiz: We have created quiz questions on Insurance Awareness which are most important for insurance exams. These questions and answers will guide you in all insurance exams like LIC (AAO/ADO), NIACL assistant and AO, UIIC, IRDA and other Bank PO exams and all competitive exams. So attempt these multiple choice questions now based on the exam pattern syllabus.
- In the health sector, what is the fixed amount for a covered service called?
B) Health Insurance
D) Coin Insurance
- Which of the following term referred as the amount of risk retained by an insurance company that is not re-insured?
B) Uninsurable risk
D) None of the above
- BCAR is the percentage measured by a company’s relative capital strength which is compared to its industry peer composite. Here, in BCAR, what do you understand by ‘C’?
- What was the tenure in which the amount charged by the insurer to provide the life cover to policy holder on the life of the life Insured is known as Cost of Insurance?
A) Every year
B) Every month
C) Every 6 month
D) Every 3 month
- What is the full form of TPA?
A) Third Part Accelerators
B) Third Party Administrators
C) The Party Administrators
D) The Party Accelerators
- What do you understand by Solvency?
A) An enterprise’s capacity which meet its capacity for the long-term financial commitments.
B) Money that an individual is required to pay for a service after any deductible is paid.
C) A sum of money paid by an employer to an employee for services rendered in the company.
D) None of the above
- A risk at which someone’s finds difficult getting insurance?
A) Partial Risk
B) Pure Risk
C) Uninsurable Risk
D) Insurable Risk
- Where is National Insurance Academy is located?
- When a single insurance company offers both life and non- life insurance policies then what does it known as?
A) Mutual Insurance Company
B) Composite insurer
C) Service provider
- An insurance that is a form of long term care policy and covers a policyholders stay in a nursing facility is called as
A) Kidnap Insurance
B) Nuclear Insurance
C) Inland Marine Insurance
D) Nursing Home Insurance