Insurance Questions and Answers updated daily – General Knowledge

Insurance Questions: Solved 237 Insurance Questions and answers section with explanation for various online exam preparation, various interviews, General Knowledge Category online test. Category Questions section with detailed description, explanation will help you to master the topic.

Insurance Questions

81. IDC stands for ______




SHOW ANSWER
Correct Ans:Insured Declared Value
Explanation:
Workspace



82. Which term referring to property coverages for the perils of burglary, theft and robbery?




SHOW ANSWER
Correct Ans:Crime Insurance
Explanation:
Workspace



83. A person who represents only one insurance company and is restricted by agreement from submitting business to any other company is termed as _______




SHOW ANSWER
Correct Ans:Captive Agent
Explanation:
Workspace



84. A person who holds something in trust for another is known as_________




SHOW ANSWER
Correct Ans:Fiduciary
Explanation:
Workspace



85. In Insurance, CGL stands for__________




SHOW ANSWER
Correct Ans:Commercial General Liability
Explanation:
Workspace



86. A survey to determine a property's insurable value, or the amount of a loss is termed as ______




SHOW ANSWER
Correct Ans:Appraisal
Explanation:
Workspace



87. The period during which the owner of a deferred annuity makes payments to build up assets is called _______




SHOW ANSWER
Correct Ans:Annuity Accumulation Phase
Explanation:
Workspace



88. ________ is an insurance purchased by a bank or creditor on an uninsured debtor's behalf so if the property is damaged, funding is available to repair it.




SHOW ANSWER
Correct Ans:Flood Insurance
Explanation:
Workspace



89. _______ is a coverage for flood damage is available from the federal government under the National Flood Insurance Program but is sold by licensed insurance agents.




SHOW ANSWER
Correct Ans:Flood Insurance
Explanation:
Workspace



90. _______ is a coverage for the policyholder's own property or person.




SHOW ANSWER
Correct Ans:First Party Coverage
Explanation:
Workspace



91. _______ is a Coverage protecting property against losses caused by a fire or lightning that is usually included in homeowner's or commercial multiple peril policies.




SHOW ANSWER
Correct Ans:Fire Insurance
Explanation:
Workspace



92. Contract under which the ultimate liability of the reinsurer is capped and on which anticipated investment income is expressly acknowledged as an underwriting component is called ________




SHOW ANSWER
Correct Ans:Finite Risk Reinsurance
Explanation:
Workspace



93. Legal responsibility of a fiduciary to safeguard assets of beneficiaries is termed as________




SHOW ANSWER
Correct Ans:Fiduciary Liability
Explanation:
Workspace



94. A written form attached to an insurance policy that alters the policy's coverage, terms, or conditions is termed as _______




SHOW ANSWER
Correct Ans:Endorsement
Explanation:
Workspace



95. A provision in an insurance policy that eliminates coverage for certain risks, people, property classes, or locations is called _____




SHOW ANSWER
Correct Ans:Exclusion
Explanation:
Workspace



96. Funds that a lender collects to pay monthly premiums in mortgage and homeowners insurance, and sometimes to pay property taxes is called ____




SHOW ANSWER
Correct Ans:Escrow Account
Explanation:
Workspace



97. Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires is termed as _____




SHOW ANSWER
Correct Ans:Earned Premium
Explanation:
Workspace



98. ________ is a coverage designed to protect businesses from liabilities that arise from the conducting of business over the Internet, including copyright infringement, defamation, and violation of privacy.




SHOW ANSWER
Correct Ans:Internet Liability Insurance
Explanation:
Workspace



99. An organization such as a bank or insurance company that buys and sells large quantities of securities is called __________




SHOW ANSWER
Correct Ans:Institutional Investor
Explanation:
Workspace



100. This broad type of coverage was developed for shipments that do not involve ocean transport is known as ______




SHOW ANSWER
Correct Ans:Inland Marine Insurance
Explanation:
Workspace



Are you seeking for good platform for practicing Insurance questions in online. This is the right place. The time you spent in Fresherslive will be the most beneficial one for you.

Online Test on Insurance @ Fresherslive

This page provides important questions on Insurance along with correct answers and clear explanation, which will be very useful for various Interviews, Competitive examinations and Entrance tests. Here, Most of the Insurance questions are framed with Latest concepts, so that you may get updated through these Insurance Online tests. Insurance Online Test questions are granted from basic level to complex level.

Why To Practice Insurance Test questions Online @ Fresherslive?

Insurance questions are delivered with accurate answer. For solving each and every question, very lucid explanations are provided with diagrams wherever necessary.
Practice in advance of similar questions on Insurance may improve your performance in the real Exams and Interview.
Time Management for answering the Insurance questions quickly is foremost important for success in Competitive Exams and Placement Interviews.
Through Fresherslive Insurance questions and answers, you can acquire all the essential idea to solve any difficult questions on Insurance in short time and also in short cut method.
Winners are those who can use the simplest method for solving a question. So that they have enough time for solving all the questions in examination, correctly without any tense. Fresherslive provides most simplest methods to answer any tough questions. Practise through Fresherslive test series to ensure success in all competitive exams, entrance exams and placement tests.

Why Fresherslive For Insurance Online Test Preparation?

Most of the job seekers finding it hard to clear Insurance test or get stuck on any particular question, our Insurance test sections will help you to success in Exams as well as Interviews. To acquire clear understanding of Insurance, exercise these advanced Insurance questions with answers.
You're Welcome to use the Fresherslive Online Test at any time you want. Start your beginning, of anything you want by using our sample Insurance Online Test and create yourself a successful one. Fresherslive provides you a new opportunity to improve yourself. Take it and make use of it to the fullest. GOODLUCK for Your Bright Future.


Online Test for Data Interpretation
Online Test for C Language

FreshersLive - No.1 Job site in India. Here you can find latest 2023 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail...
DMCA.com Protection Status