Elaborate the functionality
Insurance Management
Multiple choices:
Q1. India’s first insurance company was established in:
a. 1818
b. 1817
c. 1718
d. 1950
Q2. The word ‘Ombudsman’ in Insurance means:
a. Appointment of an official to sell the goods.
b. Appointment of an official to investigate the complaints.
c. Appointment of an official to inspect the quality of goods.
d. Appointment of an official to supervise the work force.
Q3. Insurance is a:
a. Contract
b. document
c. Agreement
d. Both (a) & (b)
Q4. ‘Asha deep’ is an Insurance:
a. Related to dreaded disease or death
b. Related to theft
c. Related to fire
d. Related to crops
Q5. ‘Actuary’ is:
a. A book that contains death data
b. A book that contains statics of production
c. A person expert in statics
d. A person expert in agent ship
Q6. ‘Snobbish’ customers are:
a. Self loving or egoist customer
b. Those who lack confidence
c. Those who take quick and immediate decision
d. Logical customers who ask a lot of questions
Q7. What stands for ‘I’ in AIDAS related with the knowledge of selling process?
a. Ideal
b. Idol
c. Income
d. Interest
Q8. Endowment Policy is:
a. Sum of Term Assurance and Pure Endowment
b. Difference of Term Assurance and Pure Endowment
c. Sum of Endowment Assurance and Pure Endowment
d. Difference of Endowment Assurance and Pure Endowment
Q9. In case of Suicide in India:
a. It is not a crime
b. It is a crime
c. It has no relation with the Insurance Policy
d. None of the above can be said
Q10. USP stands for:
a. Unique Sales Promotion
b. Unique Sales Process
c. Unique Selling Proposition
d. None of the above
Part Two:
Q1. Elaborate the functionality of ‘Married Women’s Property Act’ of India.
Q2. What are the necessary documents that have to be submitted for getting a License for agentship in Insurance Business?
Q3. Mention any two Insurance Policies for Handicapped.
Q4. What is ‘Charter Policy Parity’?
Q5. What are the basic factors required as you feel for further improvement in Pricing?
Q6. According to some industry watches, the big players like Reliance the Tata, and the Birlas contribute to almost 30% of the total premium collected by GIC and its four subsidiaries. And to the extent, GIC and its subsidiaries could see their business shrink. Comment.
Q7. What according to you, ABCL should have used to claim its best insurance refunds?
Q8. How does Money Back Policy differ from Endowment Assurance? Which one is a better
option and why?
Q9. How important is the Consumer Protection Act an in today’s world of consumerism?
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