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Total questions: 55
Worksheet time: 28mins
E-banking provides communication services through internet .
True
False
Load on branches of the banks can be reduced by e-banking .
True
False
Life insurance is not based on the principle of indemnity.
True
False
Services are intangible in nature.
True
False
Buying and selling of shares and debentures on instructions is a service provided by Central Bank.
True
False
Crossed Cheques are to be deposited only in the payees account.
True
False
Savings account deposits can be withdrawn to the extent of the balance at any time without any prior notice.
True
False
Principle of Utmost Good Faith is not applicable in Life Insurance.
True
False
Marine Insurance does not have any surrender value or paid up value.
True
False
Ship, cargo and freight are important elements of Fire Insurance.
True
False
A trustee has insurable interest in the property held on behalf of others.
True
False
Fire insurance is a contract of indemnity.
True
False
Principles of insurance means that the parties to an insurance contract must be truthful in the declaration they make.
True
False
The subject matter of a Marine Insurance is Intangible assets.
True
False
Life insurance contract has an element of uncertainty.
True
False
The function of insurance which provide safety from probable chances of loss is ---
(a)
The central bank of India is--------
(a)
Fire insurance policy usually does not exceed -------- year .
(a)
The bank which controls and coordinates currency and credit policy of India is (a)
The commercial banks of India are governed by (a)
The bank which acts as a government banker is (a)
The principle of insurance that requires full and accurate disclosure of facts and other important information is called (a) .
The principle of insurance that gives right to an insurer to stand in place of the insured after settlement is called (a) .
The type of insurance that gives protection of the life to a person is called (a) .
The insurer in Marine Insurance is known as (a) .
Without insurable interest the contract of Life Insurance is (a)
Principle of indemnity is not applicable to
(a)
Written contract between the insured and the insurer is known as (a)
Small periodic payment for a risk of large possible loss is known as (a)
John took a health insurance policy. At the time of taking policy, he was a smoker and he didn't disclose this fact. He got cancer. Insurance company won't pay anything as John didn't reveal the important facts. John has violated the insurance principle of (a)
Cheques which are to be deposited only in the payees account are
a) Order cheque
b) Blank cheque
c) Crossed cheque
d) Bearer cheque
The banking services provided through internet is called
a)C – banking
b) Exchange banking
c)E – banking
d) Wide banking
Which type of Insurance has the elements of protection and investment both?
a) Life insurance
b) Fire insurance
c) Marine insurance
d) All of them
Kotak Mahindra bank is an example of:
a) Public Sector Bank
b) Private Sector bank
c) Cooperative bank
d) Specialized bank
The premature withdrawal is permissible with a percentage of interest being forfeited in:
a) Savings Account
b) Current Account
c) Fixed Account
d) None of the above
Who decides the rate of interest provided by commercial banks on deposits in India?
a) Reserve Bank of India
b) Commercial Bank
c) Foreign Exchange Bank
d) Export- Import bank
Commercial Banks provide the facility of fund transfer from one place to another, on account of inter-connectivity of branches. Such facility is called as:
a) Acceptance of deposits
b) Allied services
c) Lending of funds
d) Remittance of funds
The principle of insurance wherein insured is not allowed to make any profit.
(a) Insurable Interest
(b) Proximate Cause
(c) Subrogation
(d)Utmost Good Faith
In which type of insurance, loss is not measurable.
(a) Life Insurance
(b) Fire Insurance
(c) Marine Insurance
(d) Burglary Insurance
Janaklal insured his property with two insurers ,AIG Ltd. For Rs. 200,000 and Shreekrishnan General Insurance for Rs 600,000. His loss of property actually was for Rs 400,000. What amount he can claim from both the insurers?
(a) AIG Ltd- 200,000 Shreekrishnan General Insurance-200,000
(b) AIG Ltd- 100,000 Shreekrishnan General Insurance-300,000
(c) AIG Ltd- 300,000 Shreekrishnan General Insurance-100,000
(d) AIG Ltd- 280,000 Shreekrishnan General Insurance-120,000
Which insurance reimburses the loss of freight to the shipping company?
(a) Cargo Insurance
(b) Ship Insurance
(c) Hull Insurance
(d) Freight Insurance
Crop Insurance is a part of which type of insurance?
(a) Life Insurance
(b) Marine Insurance
(c) Fire Insurance
(d)Other Insurance
Fire insurance contract has an element of
I. Protection
II. Investment
III. Profit
IV. Income.
If a person has insured for Rs 4, 00,000. A fire broke out and the actual amount of loss amounted to Rs 2, 50,000. How much amount can he claim:
I. 4,00,000.
II. 2,00,000
III. 2,50,000
IV. None of the above
This principle of insurance is one by which a policy-holder is compensated for the loss incurred.
I. Insurable Interest
II. Utmost Good Faith
III. Indemnity
IV. Proximate Cause
Proximate cause means :
I. Natural causes.
II. Human causes
III. Economic causes
IV. Losses which are caused by perils stated in the policy.
Name the document
(a)
In India a digital payment application is formed in his name ?
(a)
Expand NEFT
(a)
Identify the two terms given in the picture
(a)
Identify the name of the bank
(a)
Identify the type of business service.
(a)
Identify whether insurer or insured.
(a)
Identify the name of the Bank by looking into the logo and tagline
(a)
This principles states that it is the duty of the insured to take reasonable steps to minimise the loss or damage to the insured property. Name the principle.
(a)
