MBA Insurance and Risk Management Mcq Set 2 MBA MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

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

Posted Date:-2021-11-28 11:40:54

Question:

All dynamic risks are ______

1.predictable

2.Unpredictable

3.Possibility

4.Judgement

Posted Date:-2021-11-28 13:25:05

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

Posted Date:-2021-11-28 13:24:16

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

Posted Date:-2021-11-28 13:23:49

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

Posted Date:-2021-11-28 10:59:20

Question:

Bancassurance means _______

1.Selling financial services

2.general liability insurance

3.Selling banking products

4.Selling Insurance Products

Posted Date:-2021-11-28 11:38:41

Question:

Credit Risk is high in case of ____

1.Companies

2.Partnership

3.Financial Institutions

4.None of these

Posted Date:-2021-11-28 11:39:36

Question:

Credit Risk is high in case of _____

1.Companies

2.Partnership

3.Financial Institutions

4.None of these

Posted Date:-2021-11-28 11:39:08

Question:

Dynamic risks are closely related to ______

1.Speculative risks

2.Static Risks

3.Personal Risks

4.Particular

Posted Date:-2021-11-28 13:28:37

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

Posted Date:-2021-11-28 13:12:57

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

Posted Date:-2021-11-28 13:19:10

Question:

Franchise and aggregate excess of loss are two variations of _______

1.Coinsurance

2.Excess of Loss

3.First Loss

4.Proximate Cause

Posted Date:-2021-11-28 13:27:20

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.

Posted Date:-2021-11-28 11:50:17

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

Posted Date:-2021-11-28 13:14:58

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

Posted Date:-2021-11-28 11:36:46

Question:

Insurance cover ________

1.Protect assets

2.Prevents loss

3.Reduces the impact of loss

4.Insurances immortality

Posted Date:-2021-11-28 11:37:16

Question:

Insurance is a risk management technique involving _________

1.Risktransfer

2.Riskretention

3.Riskavoidance

4.Losscontrol

Posted Date:-2021-11-28 13:21:59

Question:

Loss control involves a combination of __________

1.effort and time

2.fund and time

3.funds effort or time

4.effort and fund

Posted Date:-2021-11-28 13:23:14

Question:

Malhotra Commitee was appointed in

1.1993

2.1994

3.1999

4.2000.

Posted Date:-2021-11-28 13:17:13

Question:

Marine perils is also called as _______

1.Perils of the Sea

2.Moral Hazards

3.MarineClause

4.Marinelaws

Posted Date:-2021-11-28 13:21:12

Question:

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

1.Creditors

2.Debtors

3.Debtors

4.Management and Employees

Posted Date:-2021-11-28 13:12:37

Question:

Risk insured against death is a contract of __________

1.Assurance

2.Agreement

3.Indemnity

4.Caveat Emptor

Posted Date:-2021-11-28 11:35:19

Question:

Risk of premature death is a ________

1.Financial Risk

2.Dynamic Risk

3.Subjective Risk

4.Personal Risk

Posted Date:-2021-11-28 13:24:40

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

Posted Date:-2021-11-28 11:38:08

Question:

The 5th chapter of Factories Act deals with _______

1.Safety

2.Welfare

3.The Inspecting Staff

4.Marketing Manager

Posted Date:-2021-11-28 13:28:11

Question:

The agreement refers to _______

1.Offer

2.Acceptance

3.Free Consent

4.All the above.

Posted Date:-2021-11-28 13:25:29

Question:

The business of insurance is related to protection of ______

1.Savings

2.Status

3.Profits

4.Economic value of assets

Posted Date:-2021-11-28 13:22:49

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

Posted Date:-2021-11-28 11:41:29

Question:

The claim amount received from insurer are treated as _____

1.Nontaxable Income

2.TaxableGain

3.Gains

4.Reserve

Posted Date:-2021-11-28 13:26:52

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

Posted Date:-2021-11-28 13:14:31

Question:

The expected value of losses varies directly with the ______

1.time period

2.financial period

3.fixed period

4.fluctuating period

Posted Date:-2021-11-28 11:50:56

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

Posted Date:-2021-11-28 13:16:45

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

Posted Date:-2021-11-28 13:26:25

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

Posted Date:-2021-11-28 11:49:55

Question:

The methods of risk management are ______

1.Loss Control

2.Loss Financing

3.Internal Risk Reduction

4.All of the above

Posted Date:-2021-11-28 13:15:34

Question:

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

1.Three

2.Two

3.One

4.five

Posted Date:-2021-11-28 13:12:01

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

Posted Date:-2021-11-28 13:27:45

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

Posted Date:-2021-11-28 11:35:47

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

Posted Date:-2021-11-28 11:42:19

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

Posted Date:-2021-11-28 11:49:32

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

Posted Date:-2021-11-28 13:13:28

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

Posted Date:-2021-11-28 13:25:55

Question:

Transfer of risk to other party is done through _____

1.Reduction

2.Control

3.Retention

4.Insurance

Posted Date:-2021-11-28 13:14:05

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

Posted Date:-2021-11-28 11:42:48

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

Posted Date:-2021-11-28 11:36:22

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

Posted Date:-2021-11-28 13:20:45

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

Posted Date:-2021-11-28 13:16:05

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

Posted Date:-2021-11-28 13:22:23

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

Posted Date:-2021-11-28 13:20:14

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

Posted Date:-2021-11-28 13:21:37

Posted on by R4R Team

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

Question: A bancassurance concept originated in _________

Question: All dynamic risks are ______

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

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?

Question: Assignment of life policy means ________

Question: Bancassurance means _______

Question: Credit Risk is high in case of ____

Question: Credit Risk is high in case of _____

Question: Dynamic risks are closely related to ______

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

Question: Fire insurance can be taken in respect of _______

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

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

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

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

Question: Insurance cover ________

Question: Insurance is a risk management technique involving _________

Question: Loss control involves a combination of __________

Question: Malhotra Commitee was appointed in

Question: Marine perils is also called as _______

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

Question: Risk insured against death is a contract of __________

Question: Risk of premature death is a ________

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 _______

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

Question: The agreement refers to _______

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

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

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

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

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

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

Question: The main aim of risk Financing is to _______

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

Question: The methods of risk management are ______

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

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

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

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

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

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

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

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

Question: Type of Risk Management are _____

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

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

Question: Which of the following helps in risk improvement?

Question: Which of the following helps in Risk improvement?

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

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

More MCQS

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R4R Team

Question:
A bancassurance concept originated in _________

Question:
All dynamic risks are ______

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

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?

Question:
Assignment of life policy means ________

Question:
Bancassurance means _______

Question:
Credit Risk is high in case of ____

Question:
Credit Risk is high in case of _____

Question:
Dynamic risks are closely related to ______

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

Question:
Fire insurance can be taken in respect of _______

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

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

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

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

Question:
Insurance cover ________

Question:
Insurance is a risk management technique involving _________

Question:
Loss control involves a combination of __________

Question:
Malhotra Commitee was appointed in

Question:
Marine perils is also called as _______

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

Question:
Risk insured against death is a contract of __________

Question:
Risk of premature death is a ________

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 _______

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

Question:
The agreement refers to _______

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

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

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

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

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

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

Question:
The main aim of risk Financing is to _______

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

Question:
The methods of risk management are ______

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

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

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

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

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

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

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

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

Question:
Type of Risk Management are _____

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

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

Question:
Which of the following helps in risk improvement?

Question:
Which of the following helps in Risk improvement?

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

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