Multiple Choice
The General Insurance Business Nationalization Act was passed in
A) 1952
B) 1972
C) 1962
D) 1982
Correct Answer:

Verified
Correct Answer:
Verified
Q10: The IRDA stands for<br>A)Insurance Regulatory and Development
Q11: Risk may be:<br>A)objective<br>B)subjective<br>C)Both (a) and (b)<br>D)None of
Q12: Insurance compensate losses<br>A)By replacing the original asset<br>B)To
Q13: Insurance works on the principle of<br>A)Sharing<br>B)Probabilities<br>C)Large numbers<br>D)All
Q14: Insurance benefits replace<br>A)All physical losses in full<br>B)All
Q16: The amount of insurance depends on<br>A)Peril<br>B)The risk<br>C)Neither
Q17: The principle of _ensures that an insured
Q18: Insurance principle does not include<br>A)principle of indemnity<br>B)principle
Q19: Insurance works on the principle of<br>A)Trust<br>B)Sharing<br>C)Randomness<br>D)All the
Q20: Insurance principle does not include<br>A)Principle of indemnity<br>B)Principle