Insurance and Risk Management

21. RiskManagement is a subject which falls under ______________.

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

View answer

22. 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

View answer

23. 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

View answer

24. The term Assurance refers to ______________.

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

View answer

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

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

View answer

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

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

View answer

27. 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

View answer

28. The risk which has three outcomes with possibility of gain is ______________

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

View answer

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

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

View answer

30. The medias used for direct marketing are

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

View answer