(1) Which among the following is the regulator for the insurance industry in India?
I. Insurance Authority of India
II. Insurance Regulatory and Development Authority
III. Life Insurance Corporation of India
IV. General Insurance Corporation of India
Answer : II. Insurance Regulatory and Development Authority
(2) Which among the following is a secondary burden of risk?
I. Business interruption cost
II. Goods damaged cost
III. Setting aside reserves as a provision for meeting potential losses in the
future
IV. Hospitalisation costs as a result of heart attack
Answer :III. Setting aside reserves as a provision for meeting potential losses in the future
(3) Which among the following is a method of risk transfer?
I. Bank FD
II. Insurance
III. Equity shares
IV. Real estate
Answer : II. Insurance
(4) Which among the following scenarios warrants insurance?
I. The sole bread winner of a family might die untimely
II. A person may lose his wallet
III. Stock prices may fall drastically
IV. A house may lose value due to natural wear and tear
Answer : I. The sole bread winner of a family might die untimely
(5) Which of the below insurance scheme is run by an insurer and not sponsored by
the Government?
I. Employees State Insurance Corporation
II. Crop Insurance Scheme
III. Jan Arogya
IV. All of the above
Answer: III. Jan Arogya
I. Insurance Authority of India
II. Insurance Regulatory and Development Authority
III. Life Insurance Corporation of India
IV. General Insurance Corporation of India
Answer : II. Insurance Regulatory and Development Authority
(2) Which among the following is a secondary burden of risk?
I. Business interruption cost
II. Goods damaged cost
III. Setting aside reserves as a provision for meeting potential losses in the
future
IV. Hospitalisation costs as a result of heart attack
Answer :III. Setting aside reserves as a provision for meeting potential losses in the future
(3) Which among the following is a method of risk transfer?
I. Bank FD
II. Insurance
III. Equity shares
IV. Real estate
Answer : II. Insurance
(4) Which among the following scenarios warrants insurance?
I. The sole bread winner of a family might die untimely
II. A person may lose his wallet
III. Stock prices may fall drastically
IV. A house may lose value due to natural wear and tear
Answer : I. The sole bread winner of a family might die untimely
(5) Which of the below insurance scheme is run by an insurer and not sponsored by
the Government?
I. Employees State Insurance Corporation
II. Crop Insurance Scheme
III. Jan Arogya
IV. All of the above
Answer: III. Jan Arogya
