MCQOPTIONS
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MCQOPTIONS
This section includes 356 Mcqs, each offering curated multiple-choice questions to sharpen your Horn Antenna knowledge and support exam preparation. Choose a topic below to get started.
| 151. |
The business of insurance is related to protection of: |
| A. | savings |
| B. | status |
| C. | profits |
| D. | economic value of assets |
| Answer» E. | |
| 152. |
Which of the following types of risks best meets the requirements for being insurable byprivate insurers? |
| A. | Market risks |
| B. | Property risks |
| C. | Financial risks |
| D. | Political risks |
| Answer» C. Financial risks | |
| 153. |
The business of insurance is related to protection of |
| A. | Savings |
| B. | Status |
| C. | Profits |
| D. | Economic value of assets |
| Answer» E. | |
| 154. |
Which of the statements is correct? A. Insurance is a transfer of risk mechanism. B. Insurance gives physical protection to assets. |
| A. | Statement A. |
| B. | Statement B. |
| C. | Both the statements. |
| D. | Neither of the statements |
| Answer» B. Statement B. | |
| 155. |
______ are those terms, which are written on the policy. |
| A. | Express Warranties |
| B. | Implied Warranties |
| C. | Memorandum Warranties |
| D. | Valuation Clause |
| Answer» B. Implied Warranties | |
| 156. |
Which of the following statements is true: Under a fire policy |
| A. | Insurance is a transfer of risk mechanism. |
| B. | Insurance gives physical protection to the assets. |
| C. | Statement A |
| D. | Statement B |
| Answer» B. Insurance gives physical protection to the assets. | |
| 157. |
Which of the following types of loss exposures are best met by the use of avoidance? |
| A. | low-frequency, low-severity |
| B. | low-frequency, high-severity |
| C. | high-frequency, low-severity |
| D. | high-frequency, high-severity |
| Answer» E. | |
| 158. |
All of the following can be classified as casualty insurance EXCEPT |
| A. | Marine insurance. |
| B. | General liability insurance. |
| C. | Workers compensation insurance. |
| D. | Burglary and theft insurance. |
| Answer» B. General liability insurance. | |
| 159. |
Which is the consequential loss in the fire insurance? |
| A. | loss of profit on account of fire |
| B. | property damaged by matter used for extinguishing fire |
| C. | loss due to collapse of walls at the time of fire. |
| D. | none |
| Answer» B. property damaged by matter used for extinguishing fire | |
| 160. |
The policy holder’s duty to disclose material fact lies at the time of |
| A. | Taking a policy |
| B. | Revival of policy |
| C. | Reinstatement of surrendered policy |
| D. | All of the above |
| Answer» E. | |
| 161. |
Which principle suggests that insured should try to minimize the loss of his property even if it is insured? |
| A. | Principle of indemnity |
| B. | Principle of Mitigation |
| C. | Principle of Proximate Cause |
| D. | Principle of contribution |
| Answer» C. Principle of Proximate Cause | |
| 162. |
Organisations are mainly concerned with managing |
| A. | Pure risks |
| B. | Speculative risks |
| C. | Personal risks |
| D. | None of the above |
| Answer» B. Speculative risks | |
| 163. |
All of the following can be classified as casualty insurance Except____________. |
| A. | marine insurance. |
| B. | general liability insurance. |
| C. | workers compensation insurance. |
| D. | burglary and theft insurance. |
| Answer» B. general liability insurance. | |
| 164. |
What is underwriting in Insurance ? |
| A. | Process of investing the premiums which insurance provider collect from insured parties. |
| B. | A claim arises on the occurrence of a specified event |
| C. | Process by which insurers select the risks to insure and decide how much in premiums to charge for |
| D. | The ratio of losses and expenses to premium |
| Answer» D. The ratio of losses and expenses to premium | |
| 165. |
Constructive total loss in marine insurance means |
| A. | same as total loss |
| B. | a partial loss |
| C. | the loss caused is so huge that the cost of repairs would exceed the actual amount, so it is adjudged as a total loss |
| D. | a loss which is not covered |
| Answer» B. a partial loss | |
| 166. |
When as event is stated to be possible, it has a probability between |
| A. | Zero and one |
| B. | Zero or one |
| C. | None of these |
| D. | Both of the above |
| Answer» B. Zero or one | |
| 167. |
Main emphasis of risk management is on ___________. |
| A. | Risk retention |
| B. | Reduction of cost of handling risk |
| C. | Risk transfer |
| D. | all |
| Answer» C. Risk transfer | |
| 168. |
Which of the following is the similarity between insurance and gambling: |
| A. | The amount of loss to be paid is known before hand. |
| B. | Promise to pay on the happening of the event |
| C. | Both the parties win on happening of an event. |
| D. | Both are enforceable at law. |
| Answer» B. Promise to pay on the happening of the event | |
| 169. |
Unemployment insurance is a component of |
| A. | ESI Act |
| B. | Social Security Act |
| C. | Worker’s Compensation Act |
| D. | None of the above |
| Answer» C. Worker’s Compensation Act | |
| 170. |
Fire insurance is a personal contract because |
| A. | it is a contract of utmost good faith |
| B. | it is a contract of insurable interest |
| C. | the contract does not insure the safety of the property but only the insured from pecuniary loss due to fire |
| D. | none |
| Answer» D. none | |
| 171. |
Fire Insurance is based on the principle of ? |
| A. | Utmost good faith |
| B. | Insurable interest |
| C. | Indemnity |
| D. | Co-operation |
| Answer» D. Co-operation | |
| 172. |
What is the minimum age for a person to effect a contract of insurance? |
| A. | 25 years |
| B. | 18 years |
| C. | 12 years |
| D. | 20 years |
| Answer» C. 12 years | |
| 173. |
When a firm buys insurance to cover losses caused by riots, the firm is |
| A. | Transferring risk. |
| B. | Avoiding risk. |
| C. | Assuming risk. |
| D. | Reducing risk. |
| Answer» B. Avoiding risk. | |
| 174. |
Valuation in life insurance means |
| A. | The process of arriving at the profit of a life insurance company |
| B. | The process of determining the net premium for a life insurance policy |
| C. | The process of arriving at the bonus in a life insurance company |
| D. | The process by which the value of all the existing policies is ascertained in a life insurance company. |
| Answer» E. | |
| 175. |
The major law governing marine insurance in India is |
| A. | English Marine Insurance Act, 1906 |
| B. | Marine Insurance Act, 1963 |
| C. | IRDA Act, 1999 |
| D. | General Insurance Nationalisation Act, 1972 |
| Answer» D. General Insurance Nationalisation Act, 1972 | |
| 176. |
Risk management follows a systematic process which involves……….steps. |
| A. | Two |
| B. | Three |
| C. | Four |
| D. | Five |
| Answer» E. | |
| 177. |
The International Co-operative Alliance appointed a sub-committee in……….. for the first reformulation of Principles of Co-operative Sector. |
| A. | 1934 |
| B. | 1964 |
| C. | 1954 |
| D. | 1944 |
| Answer» B. 1964 | |
| 178. |
For the second reformulation of Principles of Co-operative Sector, TheInternational Co-operative Alliance appointed a sub-committee in …………… |
| A. | 1964 |
| B. | 1935 |
| C. | 1954 |
| D. | 1944 |
| Answer» B. 1935 | |
| 179. |
The International Co-operative Alliance revised the co-operative principlesfor the third time in its Manchester Congress in …………. |
| A. | 1964 |
| B. | 1995 |
| C. | 1934 |
| D. | 1994 |
| Answer» C. 1934 | |
| 180. |
From the functional point of view the co-operative societies have beenclassified as |
| A. | unregistered and auxiliary |
| B. | unregistered and registered |
| C. | rural and urban |
| D. | primary and secondary |
| Answer» B. unregistered and registered | |
| 181. |
From the legal point of view the co-operative societies have been classifiedas |
| A. | unregistered and auxiliary |
| B. | unregistered and registered |
| C. | rural and urban |
| D. | primary and secondary |
| Answer» C. rural and urban | |
| 182. |
…………………has been compared to a “State within A State” |
| A. | state |
| B. | cooperation |
| C. | capitalism |
| D. | socialism |
| Answer» C. capitalism | |
| 183. |
……………..plays an equalizing role as a welfare factor in a capitalisticeconomy. |
| A. | socialism |
| B. | trade unionism |
| C. | joint stock companies |
| D. | cooperation |
| Answer» E. | |
| 184. |
…………….. and ……………….. are the two pioneers of cooperativemovement in Germany. |
| A. | f. w. raiffeisen and franz schulze |
| B. | robert owen and dr. william king |
| C. | f.w raiffeisen and dr. william king |
| D. | robert owen and franz schulze |
| Answer» B. robert owen and dr. william king | |
| 185. |
In ……… societies, the area of operation was large and membership ran intothousands. |
| A. | raiffeisen |
| B. | schulze-delitzsch |
| C. | both of them |
| D. | none of these |
| Answer» C. both of them | |
| 186. |
In ……………….societies, the area of operation was limited to one village orif that village happened to be small, then two or three villages were combined together. |
| A. | raiffeisen |
| B. | schulze-delitzsch |
| C. | both of them |
| D. | none of these |
| Answer» B. schulze-delitzsch | |
| 187. |
In … ……..societies, the surplus funds were not distributed as dividendsbut kept as reserves. |
| A. | raiffeisen |
| B. | schulze-delitzsch |
| C. | both of them |
| D. | none of these |
| Answer» B. schulze-delitzsch | |
| 188. |
Robert Owen was born in ……………………. |
| A. | 14th may 1771 |
| B. | 15th may 1771 |
| C. | 14th may 1881 |
| D. | 15th may 1881 |
| Answer» B. 15th may 1771 | |
| 189. |
……………........is the father of cooperation in England. |
| A. | robert owen |
| B. | dr. william king |
| C. | c.r. fay |
| D. | rochdale pioneers |
| Answer» B. dr. william king | |
| 190. |
The Brighton Cooperative Benevolent Association and the CooperativeTrading Association was formed by……………………. |
| A. | robert owen |
| B. | dr. william king |
| C. | c.r. fay |
| D. | rochdale pioneers |
| Answer» C. c.r. fay | |
| 191. |
The “Rochdale Friendly Cooperative Society” was formed in ………….. |
| A. | 1830 |
| B. | 1930 |
| C. | 1730 |
| D. | 1630 |
| Answer» B. 1930 | |
| 192. |
………….. is a voluntary and democratic association of human beings,based on equality of control, opportunity, distribution and mutuality for the promotion of their common interests as producers or consumers. |
| A. | organization |
| B. | company |
| C. | co-operation |
| D. | non-profit organization |
| Answer» D. non-profit organization | |
| 193. |
On 21/12/1844, the Rochdale Pioneers established a society with aworking capital of ………….. |
| A. | 28 pounds |
| B. | 200 pounds |
| C. | 50 pounds |
| D. | 100 pounds |
| Answer» B. 200 pounds | |
| 194. |
…………… serves as an organizational instrument for the economicallyweaker producers-farmers, artisans or workers and consumers for strengthening themselves and protecting themselves against the exploitation by the stronger. |
| A. | organization |
| B. | company |
| C. | co-operation |
| D. | non-profit organization |
| Answer» D. non-profit organization | |
| 195. |
The word ………… literally means to work together or act together. |
| A. | organization |
| B. | company |
| C. | co-operation |
| D. | association |
| Answer» D. association | |
| 196. |
. ……………..is based on the principle of self interest, maximization ofprofits and exploitation. |
| A. | co-operation |
| B. | capitalism |
| C. | socialism |
| D. | trade unionism |
| Answer» C. socialism | |
| 197. |
The I.C.A appointed a Commission in ………………….. to ascertain howfar the principles of the Rochdale as defined by I.C.A in 1937 are observed today and the reasons for any non-observance. |
| A. | october, 1964 |
| B. | october, 1984 |
| C. | november, 1964 |
| D. | november, 1984 |
| Answer» B. october, 1984 | |
| 198. |
…………is based on the principle of self-help through mutual help,abolition of profits and service above self help. |
| A. | co-operation |
| B. | capitalism |
| C. | socialism |
| D. | trade unionism |
| Answer» B. capitalism | |
| 199. |
In ……………….form of business organization profit earning is thefundamental motive. |
| A. | co-operation |
| B. | capitalism |
| C. | socialism |
| D. | trade unionism |
| Answer» C. socialism | |
| 200. |
In…………….. each works for all and all work for each. |
| A. | co-operation |
| B. | capitalism |
| C. | socialism |
| D. | trade unionism |
| Answer» B. capitalism | |