Insurance Quiz 1

Risks that insurance firms will not assume are called_________

• Uninsurable risks

• Insurable risks

• endorsements

• pure risks

Which one of the following does not belong to the main products of life insurance?

• Endowment

• Personal accident insurance

• Term

• Whole life

When was the Oriental Life Insurance Company established?

When did Life Insurance Corporation came into existence?

When was the General Insurance Corporation of India incorporated?

• 1971

• 1972

• 1973

• 1974

The Basis of risk is____________

• liability

• uncertainty

• possibility of loss

• insurance

Which of the following is an example of a hazard?

• Fire

• Vandalism

• Slippery floor

• Flood

Define Insurance.

Which insurance coverage will be applicable in this case?