MBA Insurance and Risk Management Mcq Set 1 MBA MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

MBA/MBA Insurance and Risk Management Mcq Set 1 Sample Test,Sample questions

Question:

A bancassurance started in India was ____

1.2002

2.2003

3.2001

4.2000

Posted Date:-2021-11-28 10:45:18

Question:

A complete proposal form contains information about _______

1.Moral hazard

2.Physical hazard

3.Personal history of proposer and identify of the property insurance

4.All of the above

Posted Date:-2021-11-28 10:52:48

Question:

A firm may seek to minimize marketing risks by undertaking _______

1.Credit Facilities

2.Training Salesmen

3.Market Research

4.Branch Expansion

Posted Date:-2021-11-28 10:48:51

Question:

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

Posted Date:-2021-11-28 10:22:13

Question:

An alternative approach to the check list is ______

1.Threat Analysis

2.Event Analysis

3.Operability Study

4.Minimum Level Analysis

Posted Date:-2021-11-28 10:09:26

Question:

An instrument by which a pure risk is transferred by a party other than insurer is

1.Insurance

2.Retention.

3.Non Insurance Transfer.

4.Reinsurance.

Posted Date:-2021-11-28 10:12:01

Question:

Cost of risk has the following components _______

1.Cost of Expected Losses and Cost of Control of Loss

2.Cost of Expected Losses and Cost of Loss Financing

3.Cost of Control of Loss and Cost of Loss Financing

4.Cost of Expected Loss, Cost of Control of Loss Cost of Financing, Cost of Residual Uncertainity

Posted Date:-2021-11-28 10:50:22

Question:

If RMIS has poor system documentation then the remedy is to provide ____

1.solid vendor account team

2.solid vendor account team

3.assessment in proper manner

4.clear and comprehensive specifications

Posted Date:-2021-11-28 10:18:31

Question:

If RMIS has the problem of incompatibility of software then the remedy is to provide _____

1.solid vendor account team

2.internal access to system expert

3.clear and comprehensive specifications

4.financial check

Posted Date:-2021-11-28 10:51:03

Question:

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

Posted Date:-2021-11-28 10:22:56

Question:

Insurance is a risk management technique involving

1.Risk Retention

2.Risk Avoidance

3.Loss Control

4.Risk Transfer

Posted Date:-2021-11-28 10:47:14

Question:

Insurance is best suited to risk with ________

1.high frequency and low loss severity.

2.low frequency and high loss severity.

3.minimum frequency and no loss severity.

4.high frequency and high loss severity.

Posted Date:-2021-11-28 10:11:07

Question:

Losses arising due to a risk exposure retained or assured is known as _____

1.Risk Reduction

2.Risk Financing

3.Risk Retention

4.Risk Sharing

Posted Date:-2021-11-28 10:09:02

Question:

Pure Risk was grouped ________

1.Property Risk

2..Personal Risk

3.Liability risk

4.All the above.

Posted Date:-2021-11-28 10:44:52

Question:

Restoring a policy holder to his pre-loss financial position means _______

1.Contribution

2.Indemnity

3.Goodwill

4.LiquidAsset

Posted Date:-2021-11-28 10:47:35

Question:

Risk Management is a subject which falls under ________

1.production

2.HR

3.marketing

4.finance

Posted Date:-2021-11-28 10:21:47

Question:

Risk Management process includes ______

1.Risk Analysis

2.Risk Control

3.Risk Analysis and Control

4.Risk Reduction

Posted Date:-2021-11-28 10:46:05

Question:

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

Posted Date:-2021-11-28 10:43:08

Question:

That which covers the cost of self insurance, loading in insurance premiums and enforcing hedging arrangements is ________

1.Cost of Loss Financing

2.Cost of Control of loss

3.Cost of Residual Uncertainty

4.Cost of Internal Risk Reduction

Posted Date:-2021-11-28 10:17:12

Question:

That which is designed to improve the information on which decisions are take to reduce risk is ____

1.Transfer

2.Research.

3.Costs.

4.Deflation.

Posted Date:-2021-11-28 10:12:51

Question:

The company doing the insurance business is called ________

1.Mutual funds

2.Non-banking firm

3.An insurance company

4.Banking company

Posted Date:-2021-11-28 10:44:05

Question:

The first step in risk management process is ________

1.Riskavoidance

2.Risk Identification

3.Insurance

4.Risk Evaluation

Posted Date:-2021-11-28 10:42:05

Question:

The foundation for risk Management is provided by ________

1.Risk Control

2.Risk Analysis

3.Risk Identification

4.Risk Retention

Posted Date:-2021-11-28 10:46:24

Question:

The installation of heat or smoke activated sprinkler systems that are designed to minimize fire damage in the outbreak of a fire is an example of ______

1.Loss prevention

2.Loss reduction

3.Hedging

4.Insurance

Posted Date:-2021-11-28 10:19:21

Question:

The Insurance is a _______

1.Contract

2.Uncertainty

3.Peril

4.Hazard

Posted Date:-2021-11-28 10:08:33

Question:

The measures aimed at avoiding eliminating or reducing the chances of loss production is covered by _____

1.Risk Control

2.Risk Retention

3.Risk Avoidance

4.Risk Financing

Posted Date:-2021-11-28 10:10:42

Question:

The medias used for direct marketing are

1.Direct Mail

2.Telephone Contacts

3.Kiosks

4.All the above.

Posted Date:-2021-11-28 10:44:29

Question:

The Person whose risk is insured is called ______

1.Insured

2.merchandiser

3.marketer

4.Agents

Posted Date:-2021-11-28 10:12:25

Question:

The possibility that actual results may differ from predicted results is known as ______

1.Risk.

2.Uncertainty.

3.Peril.

4.Hazards.

Posted Date:-2021-11-28 10:15:06

Question:

The principle of indemnity is applicable to ______ only.

1.Life Insurance

2.Personal accident insurance

3.Proximate Cause

4.Property insurance

Posted Date:-2021-11-28 10:20:43

Question:

The principles of indemnity does not apply to ______

1.Burglary insurance

2.Fire insurance

3.Marine insurance

4.Life and Personal Accident insurance

Posted Date:-2021-11-28 10:49:30

Question:

The process of reducing the level of risky activities firstly affect the frequency of losses is the strategy of _____

1.Risk avoidance

2.Retention

3.Hedging

4.Other contractual risk transfer

Posted Date:-2021-11-28 10:52:01

Question:

The risk management can be done by ______

1.Insurance

2.Hedging

3.Derivatives

4.All of the above

Posted Date:-2021-11-28 10:18:55

Question:

The risk manager maybe able to identify the new ventures involved in _______

1.Pure risk.

2.Group Risk.

3.Speculative risk.

4.Particular risk.

Posted Date:-2021-11-28 10:11:35

Question:

The risk that arises because of magnitude of cash flow due to change in output and input prices is known as ______

1.Credit risk

2.Particular risk

3.Business risk

4.Price risk

Posted Date:-2021-11-28 10:49:56

Question:

The risk which has three outcomes with possibility of gain is _____

1.Pure

2.Speculative

3.Static

4.Dynamic

Posted Date:-2021-11-28 10:43:37

Question:

The strategy pursued by the business firms to tackle risk by spreading into a number of business is _____

1.Diversification

2.Centralisation

3.Risk Retention

4.Financing

Posted Date:-2021-11-28 10:48:30

Question:

The success of whole process of risk management depends on its __________

1.Identification

2.Risk analysis

3.Assessment of risk

4.Evaluation of risk

Posted Date:-2021-11-28 10:15:32

Question:

The term Assurance refers to _______

1.Life Insurance Business

2.Marine Insurance Business

3.Fire Insurance Business

4.Motor Vehicle Business

Posted Date:-2021-11-28 10:23:41

Question:

This policy covers all risks to the ship and its cargo while the ship is at a particular port ______

1.Voyage policy

2.Floating policy

3.Time policy

4.Portrisk Policy

Posted Date:-2021-11-28 10:53:40

Question:

To avoid RMIS being obsolete provide ______

1.solid vendor account team

2.internal access to system expert

3.standard software configuration

4.clear and comprehensive specifications

Posted Date:-2021-11-28 10:51:41

Question:

Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called _____

1.Insurable interest

2.Subrogation

3.Proximate clause

4.Money back policy

Posted Date:-2021-11-28 10:20:15

Question:

Uncertain events are broadly classified as ______

1.Predictable and Unpredictable.

2.Possible and Impossible

3.Natural and Artificial.

4.Rare and Continuous

Posted Date:-2021-11-28 10:14:01

Question:

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

1.Insurance

2.Review

3.Risk evaluation

4.Loss prevention

Posted Date:-2021-11-28 10:42:33

Question:

Which of the statements is correct? a. Insurance is a transfer of risk mechanism. b. Insurance gives physical protection to assets.

1.Statement A

2.Statement B

3.Both the statements

4.Neither of the statements

Posted Date:-2021-11-28 10:52:23

Question:

______ policy matures on the assured death or on his attainment of a particular age whichever occurs earlier.

1.Endowment

2.Money back

3.Joint life

4.Single premium

Posted Date:-2021-11-28 10:54:01

Question:

_______ is the extra payment done for administrative and capital cost.

1.Premium

2.Premium loading

3.Interest

4.Contingency

Posted Date:-2021-11-28 10:19:47

Question:

________ are the risk management methods

1.Insurance

2.Hedging

3.Derivatives

4.All the above.

Posted Date:-2021-11-28 10:47:58

Question:

_________ is those terms, which are implied in every contract of marine insurance unless they are expressly excluded.

1.Guarantee

2.Express Warranties

3.Implied Warranties

4.Waiver Clause

Posted Date:-2021-11-28 10:21:17

Question:

_________ refers to distribution of insurance products through

1.Bank

2.Company

3.Co-operatives

4.Sole trader

Posted Date:-2021-11-28 10:45:40

Posted on by R4R Team

MBA/MBA Insurance and Risk Management Mcq Set 1 Sample Test,Sample questions

Question: A bancassurance started in India was ____

Question: A complete proposal form contains information about _______

Question: A firm may seek to minimize marketing risks by undertaking _______

Question: A person employed to do any act for another or to represent another in dealing with a third person refers to _______

Question: An alternative approach to the check list is ______

Question: An instrument by which a pure risk is transferred by a party other than insurer is

Question: Cost of risk has the following components _______

Question: If RMIS has poor system documentation then the remedy is to provide ____

Question: If RMIS has the problem of incompatibility of software then the remedy is to provide _____

Question: Insurance contract is sort of contract which is approved by ______

Question: Insurance is a risk management technique involving

Question: Insurance is best suited to risk with ________

Question: Losses arising due to a risk exposure retained or assured is known as _____

Question: Pure Risk was grouped ________

Question: Restoring a policy holder to his pre-loss financial position means _______

Question: Risk Management is a subject which falls under ________

Question: Risk Management process includes ______

Question: Risk retention means _______

Question: That which covers the cost of self insurance, loading in insurance premiums and enforcing hedging arrangements is ________

Question: That which is designed to improve the information on which decisions are take to reduce risk is ____

Question: The company doing the insurance business is called ________

Question: The first step in risk management process is ________

Question: The foundation for risk Management is provided by ________

Question: The installation of heat or smoke activated sprinkler systems that are designed to minimize fire damage in the outbreak of a fire is an example of ______

Question: The Insurance is a _______

Question: The measures aimed at avoiding eliminating or reducing the chances of loss production is covered by _____

Question: The medias used for direct marketing are

Question: The Person whose risk is insured is called ______

Question: The possibility that actual results may differ from predicted results is known as ______

Question: The principle of indemnity is applicable to ______ only.

Question: The principles of indemnity does not apply to ______

Question: The process of reducing the level of risky activities firstly affect the frequency of losses is the strategy of _____

Question: The risk management can be done by ______

Question: The risk manager maybe able to identify the new ventures involved in _______

Question: The risk that arises because of magnitude of cash flow due to change in output and input prices is known as ______

Question: The risk which has three outcomes with possibility of gain is _____

Question: The strategy pursued by the business firms to tackle risk by spreading into a number of business is _____

Question: The success of whole process of risk management depends on its __________

Question: The term Assurance refers to _______

Question: This policy covers all risks to the ship and its cargo while the ship is at a particular port ______

Question: To avoid RMIS being obsolete provide ______

Question: Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called _____

Question: Uncertain events are broadly classified as ______

Question: Which of the following is the last step in the risk management process?

Question: Which of the statements is correct? a. Insurance is a transfer of risk mechanism. b. Insurance gives physical protection to assets.

Question: ______ policy matures on the assured death or on his attainment of a particular age whichever occurs earlier.

Question: _______ is the extra payment done for administrative and capital cost.

Question: ________ are the risk management methods

Question: _________ is those terms, which are implied in every contract of marine insurance unless they are expressly excluded.

Question: _________ refers to distribution of insurance products through

More MCQS

Search

R4R Team

Question:
A bancassurance started in India was ____

Question:
A complete proposal form contains information about _______

Question:
A firm may seek to minimize marketing risks by undertaking _______

Question:
A person employed to do any act for another or to represent another in dealing with a third person refers to _______

Question:
An alternative approach to the check list is ______

Question:
An instrument by which a pure risk is transferred by a party other than insurer is

Question:
Cost of risk has the following components _______

Question:
If RMIS has poor system documentation then the remedy is to provide ____

Question:
If RMIS has the problem of incompatibility of software then the remedy is to provide _____

Question:
Insurance contract is sort of contract which is approved by ______

Question:
Insurance is a risk management technique involving

Question:
Insurance is best suited to risk with ________

Question:
Losses arising due to a risk exposure retained or assured is known as _____

Question:
Pure Risk was grouped ________

Question:
Restoring a policy holder to his pre-loss financial position means _______

Question:
Risk Management is a subject which falls under ________

Question:
Risk Management process includes ______

Question:
Risk retention means _______

Question:
That which covers the cost of self insurance, loading in insurance premiums and enforcing hedging arrangements is ________

Question:
That which is designed to improve the information on which decisions are take to reduce risk is ____

Question:
The company doing the insurance business is called ________

Question:
The first step in risk management process is ________

Question:
The foundation for risk Management is provided by ________

Question:
The installation of heat or smoke activated sprinkler systems that are designed to minimize fire damage in the outbreak of a fire is an example of ______

Question:
The Insurance is a _______

Question:
The measures aimed at avoiding eliminating or reducing the chances of loss production is covered by _____

Question:
The medias used for direct marketing are

Question:
The Person whose risk is insured is called ______

Question:
The possibility that actual results may differ from predicted results is known as ______

Question:
The principle of indemnity is applicable to ______ only.

Question:
The principles of indemnity does not apply to ______

Question:
The process of reducing the level of risky activities firstly affect the frequency of losses is the strategy of _____

Question:
The risk management can be done by ______

Question:
The risk manager maybe able to identify the new ventures involved in _______

Question:
The risk that arises because of magnitude of cash flow due to change in output and input prices is known as ______

Question:
The risk which has three outcomes with possibility of gain is _____

Question:
The strategy pursued by the business firms to tackle risk by spreading into a number of business is _____

Question:
The success of whole process of risk management depends on its __________

Question:
The term Assurance refers to _______

Question:
This policy covers all risks to the ship and its cargo while the ship is at a particular port ______

Question:
To avoid RMIS being obsolete provide ______

Question:
Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called _____

Question:
Uncertain events are broadly classified as ______

Question:
Which of the following is the last step in the risk management process?

Question:
Which of the statements is correct? a. Insurance is a transfer of risk mechanism. b. Insurance gives physical protection to assets.

Question:
______ policy matures on the assured death or on his attainment of a particular age whichever occurs earlier.

Question:
_______ is the extra payment done for administrative and capital cost.

Question:
________ are the risk management methods

Question:
_________ is those terms, which are implied in every contract of marine insurance unless they are expressly excluded.

Question:
_________ refers to distribution of insurance products through