Insurance and Risk Management

111. ______________ means a willful and intentional act on part of the self-destroyed.

1. Death
2. Suicide
3. Murder
4. Accident

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112. Which of the following contract is not legally enforceable?

1. Contract of insurance
2. Wagering contract
3. Contract of sale of goods
4. Contract of business

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113. Which of the statments are true?

1. Loss prevention and loss reduction mean different things
2. Risk may be transfered by contract
3. Both the statements
4. Neither is correct

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114. If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value ______________.

1. one
2. Between Zero and one
3. Between Zero to 10
4. Between 10 to 10

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115. Contractual risk transfers come under ______________

1. Cost of loss financing
2. Cost of internal risk reduction
3. Cost of control of loss
4. Cost of residual uncertainty

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116. The risk management methods are ______________

1. Insurance
2. Hedging
3. Derivatives
4. All of the above

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117. The insurance plays a role in the economic development of the country in following ways:

1. Releases capital for new investment
2. The job potential increases
3. Money collected is invested in infrastructure
4. All of the above

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118. Which of the following types of risks best meets the requirements for being insurable by private insurers?

1. market risks
2. property risks
3. financial risks
4. political risks

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119. Risk and Premium are fixed on the basis of ______________.

1. strategic Methods
2. Survey Methods
3. Scientific Methods
4. Probability Methods

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120. Medical Expenses Risk Comes under?

1. Business Risk
2. Price Risk
3. Credit Risk
4. Personal Risk

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