Unit Question Paper
MF0009 Insurance and Risikomanagement
Section A: 1 – 20: every question carries 1-mark Section B: twenty one – 23: each problem carries 2-mark Section C: 32-38: each question provides 4-mark
Section A 1. Exactly what does risk suggest? a) Bright future b) Doubt about future c) Worse position d) Not any future installment payments on your Chance may be defined as: a) A good outcome b) A different result c) Fluctuating outcome d) Undefined outcome 3. One of the following is usually not this is of Risk – a) Risk since the cause b) Risk since loss c) Risk because the subject d) Risk because the likelihood 4. Chance is usually _________ Risk a) Same as b) Unlike c) Just like d) Certainly not related to five. Objective risk is defined as a) Relative variant of actual and expected loss b) Total value pounds lost c) Drunk rider may not arrive at home d) Personal Mental uncertainty six. Uncertainty identifies all of the next except 1 – a) The outcome can be not particular b) the results is unfamiliar c) seen as doubt d) Probability is well know before the function 7. Need for liability risk are great due to following other than one – a) Not any maximum upper limit b) Lien can be on your cash flow
c) Upper limit is 150% of the benefit d) Legal defence expense can be enormous Risk Management may be the process of – a) Identifying loss exposures faced by simply an company and picking the most appropriate processes for treating this kind of exposures b) Identifying damage exposures confronted by every single stakeholder of your organization c) Selecting the most appropriate techniques for dealing with loss exposures d) Discovering the loss of the organization Risk management is definitely ______ insurance management. a) Same as b) Different from c) Broader principle than d) Completely opposite of Risk management is different from general management in the ______. a) Scope b) Advantages c) Disadvantages d) Outlook The elements of protection and expense are present in case there is ______. a) Auto insurance b) Property insurance c) Medical insurance d) Life insurance coverage Indemnity is definitely the ________. a) Defence by enemy b) Profit from organization c) Security again possible damage or less d) Defence once again financial breakdown Objective hazards _______ once actions will be taken that decrease the probability of loss. a) Must lower b) May increase c) May decrease d) Remain unchanged Insurance contract is broadly labeled as – a) life and nonlife b) health and marine c) life and fire d) nonlife and health In respect to IRDA 1999, that is not true to insurance business – a) Just Indian insurance provider can conduct business b) Overseas equity share not to exceed 26% c) The company needs to be registered under companies work 1956 d) non-e of the above IRDA license is usually to be renewed in each and every __ year(s) a) 3
b) One particular c) Two d) Several Which in the following applies about Tariff Advisory Committee (TAC)? a) It is strengthened to control and regulate costs b) This ensures that there is no discrimination among risked with same threat c) That considers earlier times and prospective losses d) all of the above The union of banking sector and the insurance industry is recognized as – a) Bancaasurance b) Distribution route c) Creative channel d) Customer funnel Indian Insurance Industry became available to personal sector back in a) 98 b) 1999 c) 2150 d) 2001 Bancassurance will not tap the subsequent customers a) Middle salary customers b) Existing clients of the financial institution c) noncustomers of the lender d) Online users
Section N 21. Subjective Risk is defined as a) uncertainty based on someone's mental condition b) concern based on an individual's state of mind c) both a) and b) above d) non-e from the above twenty two. All but one of the following are classes of hazard a) Physical b) Moral c) Morale d) Mental 3. Objective risk __________________ as the number of exposures increases. a) Increases b) Decreases c) Multiplies d) Remains similar 24. Importance of the risk of illness has...