Insurance and Risk Management MCQS WITH ANSWERS PART 7

 

Insurance and Risk Management

71. RiskManagement is a subject which falls under ______________.

1. production
2. HR
3. marketing
4. 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 ______________.

1. Principal
2. Employee
3. Agent
4. Development Officer

Correct answer: (C)
Agent

73. Insurance contract is sort of contract which is approved by ______________.

1. The Indian Contract Act
2. Indian Factory Act
3. Indian Companies Act
4. The Indian finance Act

Correct answer: (A)
The Indian Contract Act

74. The term Assurance refers to ______________.

1. Life Insurance Business
2. Marine Insurance Business
3. Fire Insurance Business
4. Motor Vehicle Business

Correct answer: (A)
Life Insurance Business

75. The first step in risk management process is ______________.

1. Riskavoidance
2. RiskIdentification
3. Insurance
4. RiskEvaluation

Correct answer: (B)
RiskIdentification

76. Which of the following is the last step in the risk management process?

1. Insurance
2. Review
3. Risk evaluation
4. Loss prevention

Correct answer: (A)
Insurance

77. Risk retention means ______________

1. Saving money to pay for the losses
2. Accepting and agreeing to finance the loss oneself
3. Not taking up any activity which is risky
4. 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 ______________

1. Pure
2. Speculative
3. Static
4. Dynamic

Correct answer: (B)
Speculative

79. The company doing the insurance business is called ______________.

1. Mutual funds
2. Non-banking firm
3. An insurance company
4. Banking company

Correct answer: (C)
An insurance company

80. The medias used for direct marketing are

1. Direct Mail
2. Telephone Contacts
3. Kiosks
4. All the above

Correct answer: (D)
All the above

MCQs With Answers

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