In the new digital market place banks and financial institutions have started providing services over the Internet. This type of service is provided by the banks on the Internet, lowers the transaction cost, adds value to the banking relationship and empowers customers. Name the service provided by the banks.

If any person gets his property insured by three insurance companies, then at the time of incurrence of loss, all the three companies will compensate for the loss faced but in a proportionate manner. Every company will not pay the full compensation individually. Moreover, the total amount paid by the insurance company, will not, in any condition, exceed the actual loss incurred. Name the principle of insurance to which above statement is related.

Mr. Narayan desires to have two benefits from his bank account first, to earn higher interest on balance and 2nd to face minimum risk of dishonoring a cheque. Which type of account should be opened by him in Punjab National Bank?

UPI stands for-

Which of the following is the subject matter of Marine Insurance?

A person gets his stock of Rs.25,000 insured for Rs.35,000. A fire occurs and the whole stock gets damaged. The insurance company will pay him only Rs.25,000, the actual value of his stock and not Rs.35,000. Which principle of insurance is applied in this case?

Which of the following is not related to Life Insurance Contract?

Ankur saves Rs.3,000 every month. Which type of Bank Account he should open with the bank?

The insured is expected to disclose all the important facts related to property insured. Which Principle is discussed here?

Mohan mortgages his factory to Sham and gets a loan from him. Sham gets it insured for fire. Which principle of insurance is applicable here?

A plant manager gets his stock of goods insured but he hides the fact that the electricity board has issued him a statutory warning letter to get his factory wiring changed. Later on, the factory catches fire due to a short circuit. Which principle is violated in the case?

Assurance is associated with-

A went to a shop for purchasing 50kg rice. He did not have cash but he has a debit card. He asked shopkeeper for payment by debit card. Shopkeeper takes his debit card and inserts it in a machine. By entering the pin code ‘A’ paid money to shopkeeper. What does this machine called?

Under which policy, policy money is payable after the assured attains a certain age in monthly, quarterly, half yearly or annual installments-

Which element is present in fire insurance contract?

A bank, which occupies a central position in the monetary and banking system of the country and has a superior financial authority, is called?

…………..is a technique which distributes the risk of one person among many.

Assertion (A): According to principle of subrogation the insured should not be allowed to make any profit by selling damaged property or in the case of lost property being recovered.

Reason(R): Principle of subrogation is a corollary to the Principle of Indemnity and the damaged goods will belong to the insurance company, once the compensation is paid. It also states that insurance is not a contract of making profit.

Assertion (A): RTGS is suitable for high value transactions.

Reason(R): Minimum value of transactions in RTGS should be rupees 5 lakhs.