Insurance and Risk Management
71. RiskManagement is a subject which falls under ______________.
- production
- HR
- marketing
- finance
Correct answer: (D)
finance
72. A person employed to do any act for another or to represent another in dealing with a third person refers to ______________.
- Principal
- Employee
- Agent
- Development Officer
Correct answer: (C)
Agent
73. Insurance contract is sort of contract which is approved by ______________.
- The Indian Contract Act
- Indian Factory Act
- Indian Companies Act
- The Indian finance Act
Correct answer: (A)
The Indian Contract Act
74. The term Assurance refers to ______________.
- Life Insurance Business
- Marine Insurance Business
- Fire Insurance Business
- Motor Vehicle Business
Correct answer: (A)
Life Insurance Business
75. The first step in risk management process is ______________.
- Riskavoidance
- RiskIdentification
- Insurance
- RiskEvaluation
Correct answer: (B)
RiskIdentification
76. Which of the following is the last step in the risk management process?
- Insurance
- Review
- Risk evaluation
- Loss prevention
Correct answer: (A)
Insurance
77. Risk retention means ______________
- Saving money to pay for the losses
- Accepting and agreeing to finance the loss oneself
- Not taking up any activity which is risky
- Insuring the risk
Correct answer: (B)
Accepting and agreeing to finance the loss oneself
78. The risk which has three outcomes with possibility of gain is ______________
- Pure
- Speculative
- Static
- Dynamic
Correct answer: (B)
Speculative
79. The company doing the insurance business is called ______________.
- Mutual funds
- Non-banking firm
- An insurance company
- Banking company
Correct answer: (C)
An insurance company
80. The medias used for direct marketing are
- Direct Mail
- Telephone Contacts
- Kiosks
- All the above
Correct answer: (D)
All the above