Insurance Testing Questions and Answers

Insurance Testing | Mock Test

Owners of mutual insurance companies are
a. Subscribers
b. Individual Investors
c. Stock holders
d. Its policy holders

Answer : Its policy holders
Owners of stock insurance companies are
a. Its policy holders
b. Individual Investors
c. Stock holders
d. Subscribers
Answer : Stock holders
Which among these is an unincorporated form?
a. Mutual
b. Stock
c. Both A and B
d. Syndicate
Answer : Syndicate
Intermediaries who represent customer are known as
a. Brokers
b. Agents
c. Third party administrators
d. Adjuster
Answer : Brokers
Claim representative who represents insured is known as
a. Loss Adjuster
b. Insurnace company agent
c. Public adjuster
d. Insurance company claim manager
Answer : Public adjuster
Acturial science includes the study of
a. Statistics
b. Calculas
c. Probability
d. Both A and C
Answer : Both A and C
Cost benefit from life insurance products depend on
a. Death benefit
b. Benefit cost
c. Survivorship
d. All of the above
Answer : Death benefit
Mortality rate refers to
a. Prevalence rate
b. No of deaths
c. Incident rate
d. Both A and C
Answer : Prevalence rate
Financial management does not include
a. Financial analysis
b. Auditing
c. Profitability
d. Managing investments
Answer : Profitability
Long term profitability enables an insurer to have
a. Funds for expansion
b. Pay dividends
c. Investment funds
d. All of the above
Answer : All of the above

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