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Insurance Past Questions

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An attempt to deprive someone of his property is
  • A. theft
  • B. burglary
  • C. robbery
  • D. larceny
The date on which an insurance or reinsurance contract comes into force is known as
  • A. Starting point date
  • B. Inception date
  • C. Beginning date
  • D. Commencement date
The shifting of responsibility of one’s own losses to another is known as ---------- transfer
  • A. Fund
  • B. Risk
  • C. Business
  • D. Policy
The cause of a loss is known as
  • A. Peril
  • B. Hazard
  • C. Loss
  • D. Risk
Re-insurance contract is between
  • A. Re-insurer and insurer
  • B. Re- insurance and insurance
  • C. Co-insurer and insurer
  • D. Insurance broker and re-insurer
The process of transferring risk from one insurer to another is called
  • A. contribution
  • B. re-insurance
  • C. re-processing
  • D. re-activating
Which of the following is a risk covered in endowment assurance?
  • A. Permanent disability
  • B. Bodily injury
  • C. Temporary disability
  • D. Death cover
The maximum number of days allowed for a policy holder to pay his renewal premium after it has become due is called
  • A. surrender value
  • B. conditions
  • C. days of grace
  • D. days of liberty
The facts which might influence any party’s willingness to enter the contract or reject it is called
  • A. insurable fact
  • B. insurance fact
  • C. insured fact
  • D. material fact
Educational endowment policy is designed to protect the interest of
  • A. father
  • B. mother
  • C. child
  • D. uncle