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11th Standard Commerce Insurance English Medium Free Online Test One Mark Questions with Answer Key 2020 - 2021

11th Standard

    Reg.No. :
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Commerce

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Which of the following in not applicable in insurance contract?

    (a)

    Unilateral Contract

    (b)

    Conditional Contract

    (c)

    Indemnity Contract

    (d)

    Inter-personal contract

  2. On the basis of which principle of Insurance, insurer can take over the damaged goods after paying the compensation?

    (a)

    Principle of contribution

    (b)

    Principle of subrogation

    (c)

    Principle of mitigation

    (d)

    Principle of Insurable Interest

  3. The person who agrees to compensate the loss arising from the risk is called as______________

    (a)

    insurer

    (b)

    assurer

    (c)

    underwriter

    (d)

    all the above

  4. The word 'Causa Proxima' means ________________

    (a)

    Nearest cause

    (b)

    Nearby casue

    (c)

    two causes

    (d)

    None of the above

  5. 'Stepping the shoes on others' means _________ .

    (a)

    Subrogation

    (b)

    Contribution

    (c)

    nearest cause

    (d)

    indemnity

  6. ____________policy provides a continuous insurance protection automatically during, the period for which the policy is issued.

    (a)

    Floating

    (b)

    Voyage

    (c)

    Hull

    (d)

    Open cover

  7. From the following, which of this is covered under fire insurance?

    (a)

    Voyage Policy

    (b)

    Term Policy

    (c)

    Floating

    (d)

    Collective Policy

  8. The risk insured against death is called a contract of_________.

    (a)

    Insurance

    (b)

    Co-operation

    (c)

    Assurance

    (d)

    None of these

  9. For a valid contract of insurance is_____________ necessary.

    (a)

    insurable interest

    (b)

    utmost good faith

    (c)

    proximate cause

    (d)

    the sum insured

  10. ____________policy is more suitable for a person who is taking a career.

    (a)

    Children's performed Assurance

    (b)

    Group Insurance

    (c)

    Money Back

    (d)

    Employer-Employee Groups

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