WorksheetsAll chapters of PPBI
Total questions: 61
Worksheet time: 31mins
Name
Class
Date
1.
Insurance is a _________ subject in India.
a)
Federal
b)
Secular
c)
Risky
d)
Nominal
2.
Insurance Act came in to force on ______
a)
1st July 1999
b)
1st July 1938
c)
26th Feb 1972
d)
26th Feb 1963
3.
The minimum paid up capital for Life Insurance Company is_____
a)
1000 Crores
b)
250 Crores
c)
200 Crores
d)
100 Crores
4.
One of the aim of Life Insurance Act is
a)
Protection of Property
b)
Provision of Tax
c)
Tax Concession
d)
Encourage Expenditure
5.
Marine Insurance Policy is also called as ________ Policy
a)
River
b)
Sea
c)
Lake
d)
Water
6.
The Insurer in Marine Insurance is called __________
a)
The Underwriter
b)
Insurance Company
c)
Reinsurer
d)
Client
7.
_______ is a right of insured to receive the amount secured under the policy of insurance contract promised by Insurer.
a)
Premium
b)
Commission
c)
Claim
d)
Fees
8.
Insurance Ombudsman was established in __________
a)
1998
b)
2001
c)
1999
d)
2000
9.
Which of the following statement is true?
a)
If the property is insured with two or more independent insurers it is called reinsurance.
b)
Nomination can be cancelled by the policyholder without informing the nominee.
c)
Actual value of stock destroyed will be calculated without taking salvage value.
d)
Personal accident insurance will be categorized under life insurance.
10.
If Insurance is taken with two independent Insurer for the same risk, is called as _________
a)
Reinsurnace
b)
Insurance
c)
Insurance on Insurance
d)
Double Insurance
11.
Claim Settlement can be used as __________ tool.
a)
Investment
b)
Risk
c)
Marketing
d)
Financing
12.
_________ claims, under Life Insurance, are payable as per the terms of the policy
a)
Maturity
b)
Death
c)
Partial Loss
d)
Total Loss
13.
______________ means right and title of policy gets transferred from one person to another person.
a)
Assignment
b)
Reinsurance
c)
Nomination
d)
Double Insurance
14.
___________ and maturity claims are the two types of under life insurance policy.
a)
Marine
b)
Death
c)
Partial Loss
d)
Total Loss
15.
A business professional who deals with financial impact of risk & uncertainty is called as
a)
Surveyor
b)
Insurer
c)
Actuary
d)
Trustee
16.
Which of the following statement is not true about an actuary appointment?
a)
He should be Ordinary Resident of India
b)
He Should be a Fellow member of Acturial Society of India
c)
He should be above the age of 70
d)
He should be an Insurance Employee
17.
Which of the following statement is true?
a)
The principle of subrogation is applicable to life insurance.
b)
Insurance is a co-operative device.
c)
Life insurance is a contract of Indemnity.
d)
Principle of utmost good faith is not applicable in life insurance.
18.
Wedding insurance is a type of________ insurance.
a)
Life
b)
Marine
c)
Fire
d)
Miscellaneous
19.
Cause proxima means ________
a)
Periodic Cause
b)
Nearer Cause
c)
Far-off Cause
d)
Newer Cause
20.
_______ is a type of general insurance.
a)
Whole life policy
b)
Moneyback policy
c)
Sinking fund policy
d)
Crop insurance
21.
A __________ is a consumer who purchases the policy.
a)
Insurer
b)
Insurance Company
c)
policyholder
d)
Policy
22.
A fire policy containing an average clause is called an.............policy.
a)
valued
b)
average
c)
floating
d)
replace
23.
A _________ is a fee paid to the insurer to be covered under specified terms.
a)
Charge
b)
Token
c)
Premium
d)
Claim
24.
The policy in which the limits of the risk are determined by place of particular voyage is called _________
a)
Time Policy
b)
Voyage Policy
c)
Value Policy
d)
Floating Policy
25.
Replacement Policy is also called as ________
a)
Exchange Policy
b)
Transfer Policy
c)
Floating Policy
d)
Re-instatement Policy
26.
_________ policies provides benefits to the insured only upon retirement.
a)
Pension
b)
Specialised Plan
c)
Money Back
d)
Endowment
27.
Which of the following statement is False?
a)
Speculative risk is a situation in which there is a possibility of loss but also possibility of gain.
b)
Shifting of risk is one of the methods for handling risk.
c)
A firm with debt financing has no financial risk.
d)
Commodity price risk arises from fluctuation in the price commodity.
28.
What does CAR stand for?
a)
cash adequacy ratio
b)
capital adequacy ration
c)
cash adequacy ration
d)
capital adequacy ratio
29.
What is the full form of GIC?
a)
Generic Indian Corporation
b)
General Insurance Corporation
c)
General Indian Corporation
d)
Generic Insurance Corporation
30.
The banking regulation act, ______empowers the RBI to regulate banking activities
a)
1947
b)
1948
c)
1949
d)
1950
31.
CRR means ______
a)
Cash Reserve Ratio
b)
Cash Return Ratio
c)
Cash Rate Return
d)
Cash Rate Ratio
32.
Sec. 23 of Banking Regulation Act, 1949 refers to ____________
a)
Provision relating to opening of new branch of operation
b)
Provision related to licensing of banking companies
c)
Control over top management
d)
Minimum Paidup Capital
33.
The minimum paid up capital prescribe for setting up of a new banking company is rupees ______ crore.
a)
5000
b)
500
c)
100
d)
10
34.
The minimum capital to setup a local area bank is ______
a)
5 Crore
b)
10 Crore
c)
15 Crore
d)
20 Crore
35.
The banking regulation act empowers the______to regulate banking activities
a)
SEBI
b)
RBI
c)
Ministry of Corporate Affair
d)
Ministry of Banking
36.
The ________ of the bank shall hold office for a period not exceeding 5 years.
a)
Senior Executive
b)
General Manager
c)
Managing Director
d)
Chairman
37.
NBFC stands for
a)
National Bank for Finance Corporation
b)
Nationalised Bank for Cooperation
c)
Non-Banking Financial Companies
d)
Notional Bank for Financial Companies
38.
The _________ deals in money.
a)
Customer
b)
Banks
c)
Insurance
d)
Stock Exchange
39.
_______ provides license for all banks by the Reserve Bank.
a)
Section 19
b)
Section 21
c)
Section 22
d)
Section 23
40.
BIS stands for _______.
a)
Bank for Internal Settlement
b)
Bank for International Settlement
c)
Bank for International Service
d)
Base for Internal Settlement.
41.
Minimum period of fixed deposit is _______ days.
a)
10
b)
25
c)
7
d)
8
42.
The _______ bank was opened by Dr. Yunus in Bangladesh.
a)
Grameen
b)
Simple
c)
Self Help Group
d)
SKS
43.
_________ is a financial service of small quantity provided by financial institutions to the poor
a)
Microfinance
b)
Micro savings
c)
Micro insurnace
d)
Micro Credit
44.
SHG stands for
a)
Self Happiness Group
b)
Serve Home Group
c)
Service Happy Group
d)
Self Help Group
45.
NABARD was established in the _______ year.
a)
1981
b)
1982
c)
1983
d)
1984
46.
The other name for Hybrid deposit is _______.
a)
Fix deposit
b)
Joint account
c)
current account
d)
Flexi deposit
47.
RTGS means_______.
a)
Real time grand settlement
b)
Real time gross settlement
c)
Real time gain settlement
d)
Real time grain settlement
48.
Publication of reports is one of the ____ function of RBI.
a)
supervisory
b)
developmental
c)
traditional
d)
modern
49.
Which of the following statement is false?
a)
The Reserve Bank of India has the right of issuing all denomination of currency notes.
b)
IDBI was established in the year 1964.
c)
The second schedule of the RBI Act contains a list of banks which are described as scheduled banks.
d)
ICICI was incorporated in the year 1955.
50.
Co-operative banks functions is
a)
To develop the Co-operative movement in the district
b)
To encourage rural entrepreneurship
c)
High protection to domestic industry
d)
To earn high profits
51.
Main function of Exim Bank
a)
Encourage rural entrepreneurship
b)
To provide incentives to new industries
c)
To provide License to all the banks
d)
To grant direct loans in India and outside and to encourage export import finance.
52.
The scheduled banks are included in schedule of _______ Act.
a)
Banking
b)
RBI
c)
SBI
d)
Statutory
53.
Full form of NHB is __________
a)
Non Human Branch
b)
National Human Bank
c)
National Housing Bank
d)
National Housing Body
54.
_______ can be added or removed from the account by visiting the bank.
a)
Advance
b)
Loan
c)
Credit
d)
Money
55.
The word bank is derived from Italian word _______.
a)
Banco
b)
Benco
c)
Banko
d)
Cenko
56.
______ is an institution that deal with money and credit.
a)
Government
b)
Bank
c)
Insurance
d)
Stock Exchange
57.
The strength of economy of any country basically depends on a sound and _______banking system.
a)
Emerging
b)
Financial
c)
Solvent
d)
Strengthened
58.
Bank is a ______ organisation which accepts deposits that can be withdrawn on demand.
a)
Lawful
b)
Illegal
c)
Approved
d)
Insolvent
59.
_________accounts are opened by the persons who want to save some part of their income either to earn interest on deposit or for safety purposes.
a)
Current
b)
Savings
c)
Term
d)
Recurring
60.
_______________account are generally kept by businessmen and industrialists and those people who meet a large number of monetary transactions in their routine.
a)
Term Deposit Account
b)
Recurring Deposit Account
c)
Savings Deposit Account
d)
Current Deposit Account
61.
The apex institution looking after ____________ banks refinancing is SIDBI.
a)
Agricultural
b)
small scale
c)
housing
d)
Industrial
100 %
