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

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Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf
Top Principles of Commerce ICOM Subject Mcqs Pdf Download
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
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Chapter # 18

Insurance

Encircle the most appropriate answer from the following options\


1 In Pakistan, life insurance business was nationalized in:

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

2 Group insurance is popular among:

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

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

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

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

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

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

7 The voyage policy is taken for:

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

8 Types of accidental insurance are•

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

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

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

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

12 What type of security does life insurance offer?

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

13 Insurance is an agreement in which the insurer:

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

14 The company that insures is called:

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

15 The person who gets himself insured is called:

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

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

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

18 Paid premium is refundable in case of:

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

19 Which insurance policy can be used as a security:

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

20 The principal of contribution is not applicable in:

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