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Practice Insurance Awareness Questions and Answers

The Agriculture Insurance Company of India Limited was incorporated on?
The Life Insurance Business is defined in which section of the Insurance Act, 1938?
Which country is the first in the world to introduce the concept of Insurance Repository services?
The headquarters of Agriculture Insurance Company is located in?
“Prithvi, Agni, Jal, Akash, SabkiSurakshaHamarePaas” is the tagline of which insurance company?
What is the insurance of human life values against the risks of death, injury, illness or against expenses incidental to the latter?
What is the insurance of commercial property that protects the property from such perils as fire, theft and natural disaster?
Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called?
What is a type of reinsurance in which the reinsurer can accept or reject any risk presented by an insurance company seeking reinsurance?
__________ in insurance is the splitting or spreading of risk among multiple parties.
Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency is term...
A coverage that protects businesses engaged in electronic commerce from losses caused by hackers is termed as?
A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependents is called?
Coverage against loss through stealing by individuals not in a position of trust is called?
The result of the policyholder’s failure to buy sufficient insurance is termed as?
Insurance that indemnifies the owner of real estate in the event that his or her clear ownership of property is challenged by the discovery of faults in th...
A standing agreement between insurers and reinsurers. Under a treaty each party automatically accepts a specific percentage of the insurer’s business is ...
A form of reinsurance that indemnifies the ceding company for the accumulation of losses in excess of a stipulated sum arising from a single catastrophic e...
What is a form of non-proportional reinsurance?
A type of insurance often used for high frequency low severity risks where risk is not transferred to an insurance company but retained and accounted for i...
A form of life insurance coverage payable to a third party lender/mortgagee upon the death of the insured/mortgagor for loss of loan payments is termed as?
Which Insurance is a compulsory insurance plan administered by a government agency with the primary emphasis on social adequacy?
A generic term applying to all types of insurance indemnifying or reimbursing for losses caused by bodily injury or illness including related medical expen...
Which is liability coverage for contents within a renter’s residence?
Personal and business property coverage combining several types of property insurance in one policy is called?
A Life insurance policy for which the cost is equally distributed over the term of the premium period, remaining constant throughout is called?
An adjustable life insurance under which premiums and coverage are adjustable, company’s expenses are not specifically disclosed to the insured but a fin...
A form of whole-life insurance with a predefined number of premiums to be paid is known as?
Which term referring to property coverage for the perils of burglary, theft and robbery?
What is a Coverage protecting property against losses caused by a fire or lightning that is usually included in home owners or commercial multiple peril po...
What is coverage for flood damage is available from the federal government under the National Flood Insurance Program but is sold by licensed insurance age...
An auto-mobile insurance option, available in some states, that covers the difference between a car’s actual cash value when it is stolen or wrecked and ...
Which of the following insurance is mainly used for leased cars?
What is an insurance purchased by a bank or creditor on an uninsured debtor’s behalf so if the property is damaged, funding is available to repair it?...
What is a coverage for glass breakage caused by all risks?
This broad type of coverage was developed for shipments that do not involve ocean transport is known as?
What is a coverage designed to protect businesses from liabilities that arise from the conducting of business over the Internet, including copyright infrin...
A professional liability coverage for physicians, lawyers, and other specialists against suits alleging negligence or errors and omissions that have harmed...
What is a coverage that guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults?
What is a life insurance policy that remains in force for the policyholder’s lifetime?

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