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June 14th, 2014, 11:13 AM
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| Insurance Institute of India previous year question papers
Can you please give me the Insurance Institute of India previous year question papers as it is very urgent for me? As you want to get the Insurance Institute of India previous year question papers so here is the information of the same for you: Some content of the file has been given here: IC 01 – Principles of Insurance – Model Questions I. Select the appropriate answer to complete the sentence (Checking learning - Direct) i. Insurance works on the principle of: a. Sharing of losses b. Probabilities c. Large numbers d. Randomness e. All of the above Ans: e. All of the above. ii. Insurance helps to: a. Prevent adverse situations from occurring b. Reduce the financial consequences of adverse situations c. Negate all consequences of adverse situations d. Make assets continuously productive e. All of the above Ans: b. Reduce the financial consequences of adverse situations. II. State which of the statements is/are correct (Checking learning - Direct) i. The term ‘Risk’ includes: a. Damage to machinery and property b. Impact on the health or life of a person c. Leakage of toxic products into the atmosphere d. Effect on the healthy life of the neighbourhood e. All of the above Ans: e. All of the above. ii. The main purpose of having Life insurance is: a. As an avenue for long-term investment b. As a medium for getting income tax benefits from savings c. As a governmental programme for reducing poverty d. As an avenue for short-term investment e. None of the above Ans: e. None of the above. III. Answer the questions below by selecting the correct answer: (Checking learning - Direct) i. Which of the following intermediaries do not require IRDA’s licence/ approval to operate in India? a. Insurance Brokers b. Insurance Agents c. Third Party Administrators d. Surveyors e. All the above intermediaries require IRDA’s licence/ approval Ans: e. All the above intermediaries require IRDA’s licence/ approval ii. An actuary is expected to: a. Make an exact forecast of the future liabilities of policies b. Make a reasonable forecast of the future liabilities of policies c. Calculate the premium required to cover a risk on a long-term basis d. Find the probability of an insured event to happen in non-life policies e. All the above statements are incorrect Ans: b. Make a reasonable forecast of the future liabilities of policies IV. Fill in the Blanks using the appropriate word(s) (Checking understanding - Indirect) i. The principle of _____________ ensures that an insured does not profit by insuring with multiple insurers a. Subrogation b. Contribution c. Co-insurance d. Indemnity e. Particular Average Ans: b. Contribution ii. The principle of average applies when the value is _____________ in the proposal a. Understated b. Overstated c. Not ascertainable d. Negligible e. Only sentimental Ans: a. Understated iii. Fidelity Guarantee Policies cover losses due to fraud by ____________ a. Employees b. Customers c. Borrowers d. Suppliers e. Financiers Ans: a. Employees V. Select the expanded form of the abbreviation given (Checking understanding - Indirect) i. CTL as used in insurance a. Contributory Total Loss b. Constructive Total Loss c. Construction Totally Lost d. Contractors’ Total Loss e. Co-insurer’s Tally of Loss Ans: b. Constructive Total Loss ii. GA as used in insurance a. General Assurance b. General Average c. General Adjustment d. Guaranteed Assurance e. Guaranteed Average Ans: b. General Average VI. Select the word(s) that most closely matches the given term. (Checking understanding - Indirect) i. Which of the following terms matches closest with ‘Family Floater’? a. Health insurance b. Property insurance c. Accidental injury d. Consequential loss e. Marine Partial Loss Ans: a. Health insurance ii. Which of the following terms matches closest with ‘Asbestosis’? a. Products b. Pension c. Rough Weather d. Workmen’s Compensation e. Long Term Policies Ans: d. Workmen’s Compensation VII. Find out which of the given statements is incorrect (Checking application of learning) i. Regarding ‘Exclusions’ find out the incorrect statement. a. Exclusions are indicated in the policy b. Exclusions are perils or circumstances not covered c. Exclusions limit the coverage under the policy d. Exclusions do not deal with risk coverage e. All the above statements are incorrect. Ans: d. Exclusions do not deal with risk coverage ii. Which of the following statements is incorrect in respect of brokers? a. Brokers require to undergo training before being licensed b. Brokers are appointed by insured to take care of their interests c. Brokers have to pass examinations before being licensed d. Brokers should be registered companies or firms e. Brokers are allowed to negotiate with different insurers for the same insured Ans: d. Brokers should be registered companies or firms VIII. i. Which of the following terms is dissimilar to the other four options? (Find the odd-man out?) (Checking application of learning) a. Jettison b. Hit and Run c. Sue and Labour d. Salvage e. Contamination Ans: b. Hit and Run ii. Which of the following terms is dissimilar to the other four options? (Find the odd-man out?) (Checking application of learning) a. Post-hospitalisation expenses b. Expenses on treatment of pre-existing diseases c. Reinstatement value d. Funeral expenses e. Ambulance charges Ans: c. Reinstatement value    For more detailed information I am uploading PDF files which are free to download: Contact Details: Insurance Institute of India Plot No. 46, Near US Consulate, G Block,Bandra Kurla Complex, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051 022 2654 4200 India Map Location: Hello sir I am here as I want to know is there any college affiliated to Bundelkhand University in Rajasthan so will you please tell me about this to me?? Last edited by Neelurk; March 3rd, 2020 at 09:24 AM. |