You can also read : Accounting MCQ questions with answers [Class 12th]
Insurance MCQ on Insurance And Economic Development
1. Investments are made out of :
(i) savings
(ii) Expenses
(iii) Future earnings
(iv) None of the above
ANS. (i) savings
2. Insurance channelizes the savings into:
(i) Productive Investments
(ii) Unproductive Investments
(iii) Both (i) and (ii)
(iv ) None of the above
ANS. (i) Productive Investments
3. Total population in developing country still live below the poverty line is :
(i) 20%
(ii) 40%
(iii) 60%
(iv) 80%
ANS. (ii) 40%
4. Internal savings flow from:
(i) Household sector
(ii) Private corporate sector
(iii) Public sector
(iv) All of the above
ANS. (iv) All of the above
5. Household savings styudying :
(i) Physical assets only
(ii) Financial assets only
(iii) Both of the above
(iv) None of the above
ANS. (iii) Both of the above
6. Life insurance fund occupies the household savings in the year 2014-15:
(i) 2.9%
(ii) 3.0%
(iii) 3.1%
(iv) 2.8%
ANS. (ii) 3.0%
7. In Indian industry, the share of LIC is:
(i) 50%
(ii) 10%
(iii) 100%
(iv) 17%
ANS. (i) 50%
8. Every insurance company keep invested their fund in government securities is?
(i) 35%
(ii) 25%
(iii) 10%
(iv) 20%
ANS. (ii) 25%
9. Every life insurance company shall invest his controlled fund into infrastructure and social sector :
(i) not less than 50%
(ii) not exceeding 35%
(iii) not less than 15%
(iv) not exceeding 25%
ANS. (iii) not less than 15%
10. Every general Insurance company shall invest in central government securities being not less than:
(i) 20%
(ii) 30%
(iii) 5%
(iv) 25%
ANS. (i) 20%
11. What is an insurance that provides an insured to purchase different policies for the same subject matter:
(i) Insurance
(ii) Double-insurance
(iii) Re-insurance
(iv) None of the above
ANS. (ii) Double-insurance
12. what is an insurance that provides an insurer to get insurance with another insurer:
(i) Insurance
(ii) Double-insurance
(iii) Re-insurance
(iv) None of the above
ANS. (iii) Re-insurance
13. which of the following is a primary function of Insurance?
(i) Risk Sharing
(ii) Improves Efficiency
(iii) Provides Capital
(iv) None of the above
ANS. (i) Risk Sharing
14. which of the following is not a primary function of Insurance?
(i) Risk Sharing
(ii) Provides Security
(iii) Economic Progress
(iv) None of the above
ANS. (iii) Economic Progress
15. Oldest form of insurance is :
(i) Life Insurance
(ii) Fire Insurance
(iii) Marine Insurance
(iv) Motor Insurance
ANS. (iii) Marine Insurance
16. Which among the following is a type of General insurance plans?
(i) Motor Insurance
(ii) Marine Insurance
(iii) Health Insurance
(iv) All of the above
ANS. (iv) All of the above
17. IDV in Insurance stands for :
(i) Insured Demand Value
(ii) Insured Declared value
(iii) Insured Depreciated Value
(iv) None of the above
ANS. (ii) Insured Declared value
18. Who determines the third-party insurance premium of the two-wheelers?
(i) IRDAI
(ii) Insurance Company
(iii) Policy holder
(iv) Vehicle company
ANS. (i) IRDAI
19. IRDAI stands for:
(i)Insurance Regulatory and Development Authority of India
(ii) Insurance Research and Development Authority of India
(iii) Insurance Reforms and Development Authority of India
(iv) None of the above
ANS. (i)Insurance Regulatory and Development Authority of India
20. Oldest form of Insurance is :
(i) Life Insurance
(ii) Marine Insurance
(iii) Motor Insurance
(iv) Fire insurance
ANS. (ii) Marine Insurance
