Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf Chapter No 18

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01	Principles of Commerce ICOM Mcqs Chapter 01	02	Principles of Commerce ICOM Mcqs Chapter 02
03	Principles of Commerce ICOM Mcqs Chapter 03	04	Principles of Commerce ICOM Mcqs Chapter 04
05	Principles of Commerce ICOM Chapter 05	06	Principles of Commerce ICOM Chapter 06
07	Principles of Commerce ICOM Mcqs Chapter 07	08	Principles of Commerce ICOM Mcqs Chapter 08
09	Principles of Commerce ICOM Mcqs Chapter 09	10	Principles of Commerce ICOM Mcqs Chapter 10
11	Principles of Commerce ICOM Mcqs Chapter 11	12	Principles of Commerce ICOM Mcqs Chapter 12
13	Principles of Commerce ICOM Mcqs Chapter 13	14	Principles of Commerce ICOM Mcqs Chapter 14
15	Principles of Commerce ICOM Mcqs Chapter 15	16	Principles of Commerce ICOM Mcqs Chapter 16
17	Principles of Commerce ICOM Mcqs Chapter 17	18	Principles of Commerce ICOM Mcqs Chapter 18
19	Principles of Commerce ICOM Mcqs Chapter 19	20	Principles of Commerce ICOM Mcqs Chapter 20

Chapter # 18

Insurance

Encircle the most appropriate answer from the following options\

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1 In Pakistan, life insurance business was nationalized in:

1. 1970
2. 1972
3. 1973
4. 1978

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2 Group insurance is popular among:

1. Unemployed people
2. House wives
3. Employees of business       
4. All the above organizations

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3. The objective of life insurance is to:

1. Make investment
2. Get security for loan
3. Lessen the financial burden
4. All the above

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4. On the death of the insured, sum is paid to:

1. Friends
2. Dependent
3. Relative
4. Insurer

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5 According to Jiwan sathi insurance, the husband and wife are provided with financial security in:

1. One installment
2. Three installments
3. Two installments        
4. Four installments

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6 The time period of rural insurance policy is:

1. 15 — 20 years
2. 20 a 25 years-O
3. 10— 15 years
4. More than 25 ears

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7 The voyage policy is taken for:

1. Specific voyage        
2. Specific person
3. Specific centers         
4. Voyage of different countries

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8 Types of accidental insurance are•

1. Four
2. Two
3. Three
4. One

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9 If a person gets his property Insured from to different company’s, then it is called:

1. Whole life insurance  
2. Compensatory insurance
3. Double insurance    
4. None of these

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10 The sum of marine Insurance is not paid:

1. If the ship changes direction
2. Trade is unnecessary
3. If the ship is not capable of the voyage
4. All of these

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11 Why is the public not inclined towards insurance in Pakistan?

1. Due to ignore
2. Due to poverty
3. Due to economic backwardness
4. All of the above

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12 What type of security does life insurance offer?

1. Individual        
2. Collective   
3. Both (a) & (b)
4. None of (a) & (b)

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13 Insurance is an agreement in which the insurer:

1. Gives profit
2. Gives interest
3. Compensate loss
4. All of the above

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14 The company that insures is called:

1. Insured           
2. Proposer / Insurer
3. Acceptor        
4. Business company

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15 The person who gets himself insured is called:

1. Insured          
2. Insurance policy
3. Proposer        
4. Both (a) and (b)

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16 Kinds of fire insurance:

1. Voyage and time insurance
2. Specific and floating policy
3. Fleet and valued policy
4. Endowment and term life policy

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17 If a person having a property of two lakhs and insurance of fifty thousand, then in case of loss the company will pay:

1. thousand        
2. I lakh
3. 50 thousand  
4. Nothing

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18 Paid premium is refundable in case of:

1. Life insurance
2. Valued policy
3. Fire insurance
4. Marine insurance

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19 Which insurance policy can be used as a security:

1. Marine insurance       
2. Life insurance
3. Fire insurance
4. All the three

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20 The principal of contribution is not applicable in:

1. Life insurance          
2. Marine insurance
3. Valued policy 
4. Fire insurance

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