WorksheetsInsurance and Mutual Fund Quiz
Total questions: 43
Worksheet time: 22mins
Largest Life Insurance Company in India is:
The New India Assurance Company Limited
Life Insurance Corporation of India (LIC)
United India Insurance Company Limited
National Insurance Company Limited
Which of the following is not the principal of insurance:
Utmost Good Faith
Principle of Contribution
Maximization of Profit
Causa Proxima
"Stepping into shoes of other" related with:
Principle of CAUSA PROXIMA
Principle of Subrogation
Principle of Contribution
Principle of Indemnity
A person must be benefited by that thing which he wants to be insured is called:
Interest
Insurable Interest
Causa Proxima
Contribution of That person
Up to what extent, FDI in Insurance sector is allowed by the Government of India (GOI)?
26%
49%
51%
100%
Which Insurance policy gives holder the benefits of both Insurance and Investment?
Term Insurance Policies
Money-back Policies
Unit-linked Investment Policies
Pension Policies
IRDA is associated with?
Railways
Insurance Sector
Banking
Tele Communication
An insurable risk is one in which:
The loss is a specific amount.
The loss is not accidental.
The risk is dispersed.
The policyholder has no insurable interest.
Which risk-management technique does self-insurance satisfy?
Risk reduction
Risk assumption
Risk avoidance
Shifting risks
Risk elimination
What type of life insurance policy would you recommend for a young couple, with no children, that would provide the most protection for the smallest premium?
Term
ULIP
Whole life
Endowment
________ Risk involves a chance of either profit or loss.
Fundamental
Particular
Speculative
Pure
Amusement parks often have a minimum height restriction on some of their most thrilling rides. This risk management strategy is done in an effort to:
Minimize the speculative risk associated with an injury.
Reduce the risk associated with a potential accident.
Self-insure against a speculative accident.
Create the perception of a more exciting ride.
The risk of potential losses to others as a result of injury or damage you may have caused is:
Property risk
Insurance
Liability risk
Personal risk
__________ is the likelihood that an event will occur.
Peril
Hazard
Probability
Risk
Certain percentage of the sum assured is paid periodically according to..........policy
Term
Endowment
Money back
Group insurance
The person whose risk is insured is called
Insured
Assured
Insurer
Insuree
............ policy matures on the assureds’ death or on his attainment of particular age whichever is earlier
Endowment policy
Money back policy
Joint life policy
Single premium policy
......... means a wilful and intentional act on part of self-destroyer
Death
Suicide
Murder
Accident
The policies where the premium is payable throughout the life of the assured is called
Whole life policy
Renewable term policy
Sinking fund policy
Annuity policy
The principle of ‘prevention is better than cure’ refers to
Avoiding of risk
Reduction of risk
Transferring risk
Shifting of risk
............... is the amount which the insurer is prepared to pay before the date of maturity of policy.
Paid up value
Surrender value
Both a & b
None of the above
............ is document issued to the insured in advance of the policy?
Premium receipt
Cover Note
Certificate of insurance
All of these
The concept of insurance involves a transfer of
liability.
needs.
ownership.
risk.
Rakesh recently bought a health insurance policy and a personal accident policy. What main section(s) of the insurance market do these products normally fall into?
Life insurance in both cases.
Life insurance for health and non-life insurance for personal accident.
Non-life insurance in both cases.
Non-life insurance for health and life insurance for personal accident.
Rahul is employed by Sunny. In respect of this employment, Rahul automatically has insurable interest in Sunny’s life up to what limit, if any?
Rahul’s monthly salary.
Rahul’s pension fund value.
Sunny’s annual profit.
There is no limit.
Indian Mutual Fund industry is well regulated by __________
RBI
SEBI
Banks
Issue Company
A initial period offer made of fixed price units when a new scheme is launched by a fund house is called __________
IPO
NFO
ETF
Right Issue
Which fund invests predominantly in safer short-term instruments?
Income Fund
Liquid Fund
Gilt Fund
Debt Fund
Net Asset Value (NAV) of debt-oriented mutual fund scheme is affected by __________
Fluctuation in equity market
Change in interest rate
Debt-based mutual fund
All the above
What is the full form of ETF?
Exchange Traded Fund
Energy, Time, Frequency
Electronic Traded Fund
None of these
UTI was set up by whom?
SEBI
RBI
IDBI
SBI
Which mutual fund scheme provides periodic repurchase facility to investors?
Close-ended Scheme
Open-ended Scheme
Balanced Scheme
Interval Scheme
Equity-oriented mutual fund scheme is also called as __________
Income Oriented
Growth Oriented
Long Term Oriented
All of the above
An investor who wants regular and steady income should invest in which mutual fund?
Equity Based Mutual Fund
Balanced Fund
Debt Based Mutual Fund
Gold Fund
Which fund invests exclusively in the dated securities issued by the government?
Balanced Fund
Liquid Fund
Debt Fund
Gilt Fund
A mutual fund’s performance is best measured by __________
Yield and Capital Gains Distributions
Net Asset Value
Price Appreciation and Net Asset Value
Total Return
Which type of mutual fund has generally offered the best protection against inflation?
Equity Fund
Money Market Fund
Hybrid Fund
Liquid Fund
According to SEBI regulations, __________ of the directors of trustee company or board of trustees must be independent?
Half
One Third
Two Thirds
One Fourth
__________ reassures the investors of mutual funds that the mutual funds function within the strict regulatory framework.
SEBI
AMFI
IRDA
RBI
In which option are dividends not paid out to the unit holder but directly invested in the scheme and reflected in NAV of the units?
Income Option
Growth Option
Dividend Payout Option
Dividend Reinvestment Option
When was permission given to private sector funds including foreign fund management companies to enter mutual fund in India?
1994
1987
1990
1993
Which was the first public sector mutual fund to be set up after the Unit Trust of India?
Franklin Templeton
CanRobeco
Tata AIG
SBI Mutual Fund
If market interest rates increase, the price of an existing bond or bond fund generally will __________
Increase
Decrease
Stay about the same
Don’t know
