Multiple Choice
The IRDA stands for
A) Insurance Regulatory and Development Activity.
B) Insurance Reconstruction and Development Activity.
C) Insurance Regulatory and Development Authority.
D) Insurance Regulatory and Department Activity.
Correct Answer:
Verified
Correct Answer:
Verified
Q5: _ is a contract between two insures
Q6: Insurance is meant to<br>A)Prevent specified events<br>B)Prevent damage
Q7: Freight insurance is under<br>A)life insurance<br>B)marine insurance<br>C)fire insurance<br>D)other
Q8: Virtual banking is also called<br>A)Internet Banking<br>B)Home banking<br>C)Mobile
Q9: Insurance is necessary because<br>A)Assets depreciate over time
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
Q15: The General Insurance Business Nationalization Act was