Assessment Title : Chapter1 Total Questions : 10

Module : 1.HISTORY OF LIFE INSURANCE Total Marks : 10

Q1. Insurance Agents are  

Who work only for insurance company

Who work for customers

Who work in their own interest

Intermediaries

Q2. In life insurance industry which mechanism operates so as to enable the individuals to reduce the impact of risks  

Prevention of risk

Pooling of risk

Transfer of risk

Sharing of risk

Q3. Micro insurance is made specifically for people from.  

High income.

Middle class.

Low income.

Affluent class.

Q4. Vinay doesn�t want to take insurance on himself. He feels that his family will survive with the funds available in the  
bank and monthly rentals received from village. This comes under Risk ______

Transfer

Control

Retaining

Avoidance

Q5. Risk transfer provides a sense of  

Financial instability

Financial distress

Financial security

Financial deficit

Q6. Which of the following statement does not characterize the Professional Insurance market  
Transparency in its dealings with customers

It keeps the interest of its customers at the forefront of all that it does
 That the customers get what they are looking for

Will have profit making as its only motive.

Q7. _____________ is an insurer for the insurance company  

IRDA

Reinsurance company

LIC

GIC

Q8. What is the maximum sum assured under a micro insurance  

10000

25000

50000

100000

Q9. Insurance is a mechanism of  

Retention of risk

Transfer of Risk

Avoidance of Risk

Reduction of risk

Q10. Reinsurance means  

Purchase of additional insurance by an insured person

Bringing into force a lapsed policy

Insurers seeking transfer of risk to shield themselves from over insurance

An individual insuring with different insurance companies

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