HomeInsurance and Risk Management
71. The situation of doubt in mind about the happening or not happening of anything in future because of lack of knowledge ______________.
- Risk
- Uncertainty
- Loss
- Hazards
Uncertainty
72. Transfer of risk to other party is done through ______________.
- Reduction
- Control
- Retention
- Insurance
Insurance
73. The cost of uncertainty that remains once the firm has selected and implemented loss control loss financing and internal risk reduction is called ______________.
- Cost of Residual Uncertainty
- Cost of Expected Losses
- Cost of Price Change
- Cost of Loss Control
Cost of Residual Uncertainty
74. If RMIS shows lack of service then you need to provide ______________.
- reference checks including on site
- assessment in proper manner
- financial check
- standard software configuration
financial check
75. The methods of risk management are ______________.
- Loss Control
- Loss Financing
- Internal Risk Reduction
- All of the above
All of the above
76. Which of the following helps in risk improvement?
- Fire brigade
- Salvage corps
- Engineers who survey property to be insured
- Ambulance
Engineers who survey property to be insured
77. The insurance plays a role in the economic development of the country in the following ways ______________.
- Releases capital for new investments
- The job potential increases
- Money collected is invested in infrastructure
- All of the above
All of the above
78. Malhotra Commitee was appointed in
- 1993
- 1994
- 1999
- 2000
1993
79. Fire insurance can be taken in respect of ______________
- movable property only
- immovable property only
- both movable and immovable properties
- persons only
both movable and immovable properties
80. ______________ is an agreement where by the insurer agrees to indemnity the insured against marine losses.
- Life insurance
- Fire insurance
- Marine insurance
- Public liability insurance
Marine insurance