Insurance Testing | Mock Test

1
Owners of mutual insurance companies are
a. Subscribers
b. Individual Investors
c. Stock holders
d. Its policy holders
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Its policy holders [/bg_collapse]
2
Owners of stock insurance companies are
a. Its policy holders
b. Individual Investors
c. Stock holders
d. Subscribers
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Stock holders[/bg_collapse]
3
Which among these is an unincorporated form?
a. Mutual
b. Stock
c. Both A and B
d. Syndicate
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Syndicate [/bg_collapse]
4
Intermediaries who represent customer are known as
a. Brokers
b. Agents
c. Third party administrators
d. Adjuster
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Brokers [/bg_collapse]
5
Claim representative who represents insured is known as
a. Loss Adjuster
b. Insurnace company agent
c. Public adjuster
d. Insurance company claim manager
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Public adjuster [/bg_collapse]
6
Acturial science includes the study of
a. Statistics
b. Calculas
c. Probability
d. Both A and C
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Both A and C [/bg_collapse]
7
Cost benefit from life insurance products depend on
a. Death benefit
b. Benefit cost
c. Survivorship
d. All of the above
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Death benefit [/bg_collapse]
8
Mortality rate refers to
a. Prevalence rate
b. No of deaths
c. Incident rate
d. Both A and C
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Prevalence rate [/bg_collapse]
9
Financial management does not include
a. Financial analysis
b. Auditing
c. Profitability
d. Managing investments
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : Profitability [/bg_collapse]
10
Long term profitability enables an insurer to have
a. Funds for expansion
b. Pay dividends
c. Investment funds
d. All of the above
[bg_collapse view=”button-green” color=”#FFF” icon=”arrow” expand_text=”Show Answer” collapse_text=”Hide Answer” ]Answer : All of the above[/bg_collapse]