MBA Insurance and Risk Management Mcq Set 3 MBA MCQs: multiple choice questions and answers,Mock Tests and Practice Papers

MBA/MBA Insurance and Risk Management Mcq Set 3 Sample Test,Sample questions

Question:

 The risk management methods are ______

1.Insurance

2.Hedging

3.Derivatives

4.All of the above

Posted Date:-2021-11-28 23:50:51

Question:

_____ policy issued on the basis of the number of persons assured.

1.Annuity policy

2.Multiple life policy

3.Single life policy

4.Level of premium policy

Posted Date:-2021-11-28 23:48:03

Question:

______ provides evidence of insurance to the policies and Registration Authorities under Motor Vehicle Act.

1.Cover note

2.Endorsements

3.Certificate of insurance

4.Policy form

Posted Date:-2021-11-29 03:32:02

Question:

_______ policy is which covers the risk during all situations.

1.Floating

2.Wagering

3.Valued

4.Mixed

Posted Date:-2021-11-29 03:31:23

Question:

________ are those terms, which are written on the policy.

1.Express Warranties

2.Implied Warranties

3.Memorandum Warranties

4.Valuation Clause

Posted Date:-2021-11-28 23:47:30

Question:

________ means a willful and intentional act on part of the self-destroyed.

1.Death

2.Suicide

3.Murder

4.Accident

Posted Date:-2021-11-28 23:48:31

Question:

A person who dislikes risk is known as ____

1.Risk lover

2.Risk Averse

3.Risk Neutral

4.Insurer

Posted Date:-2021-11-29 03:36:10

Question:

A person who is risk averse _______

1.accepts the risk no matter what

2.do not accept the risk as a loss hurts them more than gain benefits them

3.tries to control the loss

4.avoids insurance

Posted Date:-2021-11-29 03:33:52

Question:

A risk manager should report to ______

1.Managing Director

2.Company Secretary

3.Supervisor

4.General manager.

Posted Date:-2021-11-29 00:24:10

Question:

Contractual risk transfers come under ______

1.Cost of loss financing

2.Cost of internal risk reduction

3.Cost of control of loss

4.Cost of residual uncertainty

Posted Date:-2021-11-28 23:50:19

Question:

Except life assurance the maximum term of other insurance is _____

1.12 months

2.24 months

3.6 months

4.36 months

Posted Date:-2021-11-28 23:47:04

Question:

Fire insurance can be taken in respect of ___

1.movable properties only

2.immovable properties

3.movable and immovable

4.persons only

Posted Date:-2021-11-29 03:39:06

Question:

Having money available when it is needed is defined as the art of ____

1.Financial management

2.Risk management

3.Contingency fund

4.Surplus

Posted Date:-2021-11-29 00:25:27

Question:

If impurity of data is the problem that RMIS is showing then provide ___

1.clear and comprehensive specifications

2.solid vendor account team

3.reference checks, including on-site

4.assessment in proper manner

Posted Date:-2021-11-29 00:48:26

Question:

If RMIS shows inflexibility of system then provide ________

1.solid vendor account team

2.clear and comprehensive specifications

3.internal access to system expert

4.standard software configuration

Posted Date:-2021-11-28 23:45:01

Question:

If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value _______

1.one

2.Between Zero and one

3.Between Zero to 10

4.Between 10 to 10

Posted Date:-2021-11-28 23:49:56

Question:

In alike the risk of creditors and shareholders by High Capital Gearing ratio companies is _______

1.Increased

2.Decreased

3.Government

4.Management and Employees

Posted Date:-2021-11-29 00:46:34

Question:

Insurance business is based on _______

1.Parkinsons law

2.Newtons law

3.The theory of probability and law of large numbers

4.Boyles law

Posted Date:-2021-11-29 03:33:05

Question:

Insurance is based on the principle of _______

1.co-operation

2.Democracy

3.Equality

4.welfare

Posted Date:-2021-11-29 02:06:15

Question:

Insurance penetration in India in 2001 was

1.1.93

2.2.32

3.2.71

4.2.25

Posted Date:-2021-11-29 03:34:54

Question:

Medical Expenses Risk Comes under?

1.Business Risk

2.Price Risk

3.Credit Risk

4.Personal Risk

Posted Date:-2021-11-29 00:22:43

Question:

Notice of abandonment is necessary in the case of _______

1.Actual loss

2.Constructive total loss

3.Partial total loss

4.Minimum loss

Posted Date:-2021-11-29 03:30:48

Question:

Organisations are mainly concerned with managing

1.Pure Risk

2.Speculative Risk

3.Personal Risk

4.None of the above

Posted Date:-2021-11-29 03:38:01

Question:

Risk and Premium are fixed on the basis of ____

1.strategic Methods

2.Survey Methods

3.Scientific Methods

4.Probability Methods

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

Question:

Risk management information is not useful in one of the following _______

1.Reporting

2.Hedging

3.Claim adjustment process reviews

4.Derivatives

Posted Date:-2021-11-28 23:45:30

Question:

Risk management is concerned with _______

1.Planning

2.Arranging and controlling of activities

3.Managing of funds

4.Planning, arranging and controlling of activities

Posted Date:-2021-11-29 00:46:03

Question:

Risk means _________

1.economy

2.possibility of loss

3..reduction of anxiety

4. meeting externally imposed obligations

Posted Date:-2021-11-29 03:35:47

Question:

That which are not independent parts of the whole risk management process are ____

1.Risk Control and Risk Financing

2.Risk Retention and Risk Analysis

3.Risk Retention and Risk Financing

4.Risk Analysis and Risk Control

Posted Date:-2021-11-29 00:47:01

Question:

That which helps to determine the accuracy and relevance of risk at each stage to which an organization is exposed is known as _______

1.Principle of Identification

2.Principle of Risk Analysis

3.Principle of Assessment Risk

4.Principle of Corrective Decision

Posted Date:-2021-11-29 00:47:33

Question:

That which take advantage to the law of large numbers is ________

1.Risk retention

2.Combination

3.Hedging

4.Inflation

Posted Date:-2021-11-29 03:38:41

Question:

The concept of insurance is ______

1.to share the losses by many

2.to make money out of death.

3.to earn interest

4.to earn a status

Posted Date:-2021-11-29 03:34:26

Question:

The condition for insurable interest is _______

1.Loss should be sufficiently in monetary terms

2.Loss potential should be sufficiently large

3.Interest on the subject matter of the insurance

4.Loss cannot be managed

Posted Date:-2021-11-29 00:25:00

Question:

The cost of increased precautions and limits on risky activity to reduce the frequency and severity of accidents and losses is covered by ______

1.Cost of Loss Financing

2.Cost of Expected Losses

3.Cost of Control of Loss

4.Cost of Internal Risk Reduction

Posted Date:-2021-11-29 00:48:01

Question:

The identification analysis and economic control of those risk which can threaten the assets or earning capacity of an enterprise is known as _______

1.Business Management

2.Risk Management

3.Financial Management

4.Strategic Management

Posted Date:-2021-11-28 23:43:24

Question:

The insurance plays a role in the economic development of the country in following ways:

1.Releases capital for new investment

2.The job potential increases

3.Money collected is invested in infrastructure

4.All of the above

Posted Date:-2021-11-28 23:51:24

Question:

The number of prime elements of risk analysis is _____

1.one

2.Two

3.Three

4.four

Posted Date:-2021-11-28 23:42:58

Question:

The person who agrees to compensate the loss arising from the risk is called the _______

1.Insurer

2.Assurer

3. Underwriter

4.All the above.

Posted Date:-2021-11-29 02:06:44

Question:

The premium implies _____

1.Consideration by Service

2.Consideration by cash

3.Consideration by Kind

4.Speculative Cash

Posted Date:-2021-11-29 00:23:39

Question:

The Principle 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 23:46:20

Question:

The Risk Evaluation breaks into two parts.They are ___________

1.The cause of loss and its affects

2.The probability of loss occurring and its severity

3.The loss due to any reasons

4.The risk and return

Posted Date:-2021-11-29 00:24:36

Question:

The routine medical check up during a year is an example of ______

1.Loss prevention

2.Loss reduction

3.Risk avoidance

4.Retention

Posted Date:-2021-11-29 00:48:48

Question:

The two Aspects of risk Managers are _________

1.Record keeping and reporting of the activities

2.Maintaining accounts and reporting

3.Carry out analysis and control

4.Marketing

Posted Date:-2021-11-29 03:36:37

Question:

The type of reinsurance that forms individual large losses of risk is called as _____

1.Proportional quota share

2.Excess of loss per event basis

3.Stop loss

4.Facultative

Posted Date:-2021-11-29 03:37:06

Question:

The uncertainty reduced through diversification and investing in information is known as _______

1.Cost of Residual Uncertainty

2.Cost of Loss Financing

3.Cost of Loss Control

4.Cost of Internal Risk Reduction

Posted Date:-2021-11-28 23:44:35

Question:

Which of the following contract is not legally enforceable?

1.Contract of insurance

2.Wagering contract

3.Contract of sale of goods

4.Contract of business

Posted Date:-2021-11-28 23:49:04

Question:

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

1.Insurance

2.Review

3.Risk evaluation

4.Loss prevention

Posted Date:-2021-11-28 23:45:56

Question:

Which of the following steps in the risk management process helps in determining sum insured under policies?

1.Risk identification

2.Risk Retention

3.Risk Evaluation

4.Risk Transfer

Posted Date:-2021-11-29 03:32:36

Question:

Which of the following types of risks best meets the requirements for being insurable by private insurers?

1.market risks

2.property risks

3.financial risks

4.political risks

Posted Date:-2021-11-28 23:51:57

Question:

Which of the statements is correct? a. The simplest way to deal with a risk to avoid it. b. This technique is always possible and practical.

1.Statement A

2.Statement B

3.Both the statements

4.Neither of the statements

Posted Date:-2021-11-29 02:05:34

Question:

Which of the statments are true?

1.Loss prevention and loss reduction mean different things

2.Risk may be transfered by contract

3.Both the statements

4.Neither is correct

Posted Date:-2021-11-28 23:49:27

Posted on by R4R Team

MBA/MBA Insurance and Risk Management Mcq Set 3 Sample Test,Sample questions

Question: The risk management methods are ______

Question: _____ policy issued on the basis of the number of persons assured.

Question: ______ provides evidence of insurance to the policies and Registration Authorities under Motor Vehicle Act.

Question: _______ policy is which covers the risk during all situations.

Question: ________ are those terms, which are written on the policy.

Question: ________ means a willful and intentional act on part of the self-destroyed.

Question: A person who dislikes risk is known as ____

Question: A person who is risk averse _______

Question: A risk manager should report to ______

Question: Contractual risk transfers come under ______

Question: Except life assurance the maximum term of other insurance is _____

Question: Fire insurance can be taken in respect of ___

Question: Having money available when it is needed is defined as the art of ____

Question: If impurity of data is the problem that RMIS is showing then provide ___

Question: If RMIS shows inflexibility of system then provide ________

Question: If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value _______

Question: In alike the risk of creditors and shareholders by High Capital Gearing ratio companies is _______

Question: Insurance business is based on _______

Question: Insurance is based on the principle of _______

Question: Insurance penetration in India in 2001 was

Question: Medical Expenses Risk Comes under?

Question: Notice of abandonment is necessary in the case of _______

Question: Organisations are mainly concerned with managing

Question: Risk and Premium are fixed on the basis of ____

Question: Risk management information is not useful in one of the following _______

Question: Risk management is concerned with _______

Question: Risk means _________

Question: That which are not independent parts of the whole risk management process are ____

Question: That which helps to determine the accuracy and relevance of risk at each stage to which an organization is exposed is known as _______

Question: That which take advantage to the law of large numbers is ________

Question: The concept of insurance is ______

Question: The condition for insurable interest is _______

Question: The cost of increased precautions and limits on risky activity to reduce the frequency and severity of accidents and losses is covered by ______

Question: The identification analysis and economic control of those risk which can threaten the assets or earning capacity of an enterprise is known as _______

Question: The insurance plays a role in the economic development of the country in following ways:

Question: The number of prime elements of risk analysis is _____

Question: The person who agrees to compensate the loss arising from the risk is called the _______

Question: The premium implies _____

Question: The Principle of Indemnity does not apply to _______

Question: The Risk Evaluation breaks into two parts.They are ___________

Question: The routine medical check up during a year is an example of ______

Question: The two Aspects of risk Managers are _________

Question: The type of reinsurance that forms individual large losses of risk is called as _____

Question: The uncertainty reduced through diversification and investing in information is known as _______

Question: Which of the following contract is not legally enforceable?

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

Question: Which of the following steps in the risk management process helps in determining sum insured under policies?

Question: Which of the following types of risks best meets the requirements for being insurable by private insurers?

Question: Which of the statements is correct? a. The simplest way to deal with a risk to avoid it. b. This technique is always possible and practical.

Question: Which of the statments are true?

More MCQS

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R4R Team

Question:
The risk management methods are ______

Question:
_____ policy issued on the basis of the number of persons assured.

Question:
______ provides evidence of insurance to the policies and Registration Authorities under Motor Vehicle Act.

Question:
_______ policy is which covers the risk during all situations.

Question:
________ are those terms, which are written on the policy.

Question:
________ means a willful and intentional act on part of the self-destroyed.

Question:
A person who dislikes risk is known as ____

Question:
A person who is risk averse _______

Question:
A risk manager should report to ______

Question:
Contractual risk transfers come under ______

Question:
Except life assurance the maximum term of other insurance is _____

Question:
Fire insurance can be taken in respect of ___

Question:
Having money available when it is needed is defined as the art of ____

Question:
If impurity of data is the problem that RMIS is showing then provide ___

Question:
If RMIS shows inflexibility of system then provide ________

Question:
If the most impossible event is assigned a value of zero, then most inevitable event is assigned a value _______

Question:
In alike the risk of creditors and shareholders by High Capital Gearing ratio companies is _______

Question:
Insurance business is based on _______

Question:
Insurance is based on the principle of _______

Question:
Insurance penetration in India in 2001 was

Question:
Medical Expenses Risk Comes under?

Question:
Notice of abandonment is necessary in the case of _______

Question:
Organisations are mainly concerned with managing

Question:
Risk and Premium are fixed on the basis of ____

Question:
Risk management information is not useful in one of the following _______

Question:
Risk management is concerned with _______

Question:
Risk means _________

Question:
That which are not independent parts of the whole risk management process are ____

Question:
That which helps to determine the accuracy and relevance of risk at each stage to which an organization is exposed is known as _______

Question:
That which take advantage to the law of large numbers is ________

Question:
The concept of insurance is ______

Question:
The condition for insurable interest is _______

Question:
The cost of increased precautions and limits on risky activity to reduce the frequency and severity of accidents and losses is covered by ______

Question:
The identification analysis and economic control of those risk which can threaten the assets or earning capacity of an enterprise is known as _______

Question:
The insurance plays a role in the economic development of the country in following ways:

Question:
The number of prime elements of risk analysis is _____

Question:
The person who agrees to compensate the loss arising from the risk is called the _______

Question:
The premium implies _____

Question:
The Principle of Indemnity does not apply to _______

Question:
The Risk Evaluation breaks into two parts.They are ___________

Question:
The routine medical check up during a year is an example of ______

Question:
The two Aspects of risk Managers are _________

Question:
The type of reinsurance that forms individual large losses of risk is called as _____

Question:
The uncertainty reduced through diversification and investing in information is known as _______

Question:
Which of the following contract is not legally enforceable?

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

Question:
Which of the following steps in the risk management process helps in determining sum insured under policies?

Question:
Which of the following types of risks best meets the requirements for being insurable by private insurers?

Question:
Which of the statements is correct? a. The simplest way to deal with a risk to avoid it. b. This technique is always possible and practical.

Question:
Which of the statments are true?