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?