What Is The Purpose Of Insurance Mcq

April 10, 2021

Compensation management is one of the major concern in hrm. Insurance mcq questions is important for the preparation of exams like lic exam, irda, uiic, nicl, niacl, and oicl.

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B) it has to safeguard the interests of the stakeholders.

What is the purpose of insurance mcq. Owned or leased by a landlord who does not reside on the premises. Purpose can generate topline growth (or serve as an insurance policy against revenue slippage) by creating more loyal customers, fostering trust, and preserving your customer base at a time when 47 percent of consumers disappointed with a brand’s stance on a social issue stop buying its products—and 17 percent will never return. The main purpose of life insurance is to:

We have arranged the answers to the insurance awareness general knowledge questions there itself. This quiz contains the best 25+ big data mcq with answers, which cover the important topics of big data so that, you can perform best in big data exams, interviews, and placement activities. Insurance mcq questions and answers with explanations.

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Make up for loss of earnings if an insured person is unable to ever work again. Insurance is defined as a contract, which is called a policy, in which an individual or organisation receives financial protection and reimbursement of damages from the insurer or the insurance company. Below given is the mcq in compensation management with answers.

Accordance with rules contained in first schedule to the act. This period must be set for a specific number of years. We are introducing here the best big data mcq questions, which are very popular & asked various times.

If the compensation policy of the organisation proves to be best then the organisation can get well motivated, loyal, efficient workforce. C) an arrangement for raising short term money against prepaid expenses. Know the purpose of, and the parties involved in, reinsurance 1.1 explain the purpose of reinsurance including, spreading risk, capacity, financial security and capital management.

To promote private sector development in developing countries. Legal purpose is a term used in contract law meaning legal concepts. Special purpose reinsurance vehicles facilitate the securitization of one or more ceding insurers' risks as a means of accessing alternative sources of capital and achieving the benefits of securitization.

Owned by a landlord who does not use the mobilehome located on it. If you have any queries related to cbse class 11 business studies nature and purpose of business mcqs multiple choice questions with answers, drop your questions below and will get back to you in no time. C) it has to ensure the financial soundness of the insurance industry.

A) average clause b) weighted clause c) closing stock d) none of these if you need most importance mcq pdf economics question bank than pay rs 100 only contact 8652719712 /. It guarantees that income will be paid for any period beginning at age 65. It promises to pay to the owner or beneficiary of the asset, a certain sum if the loss occurs.

Insurance mcq legal concepts legal purpose is a term used in contract law meaning. 160.the profits and gains of any business of insurance, including any such business carried. What is the primary purpose of the international finance corporation?

It guarantees income will be paid for any period the owner wants. Insurance awareness mcq quiz answers. Marine cargo insurance is the most common method used to protect the value of your goods from physical damage, theft, or general average.

You can also verify your answers from our provided nature and purpose of. Published february 2016 © the chartered insurance institute 2016 3 of 5 1. Meet an insured person’s debts and other financial commitments in the event of death.

Derived from life insurance business is taxable at what rate? Hence, check the solutions and get aware of all the issues. (b) only looks at the best parts of the economy.

Try to remember the questions at the time of examinations. Insurance mcq questions is important for the preparation of exams like lic exam, irda, uiic, nicl, niacl, and oicl. Multiple choice questions & answers.

Nature and purpose of business class 11 mcqs questions with answers. Leased by the owner of the land. A) an easy way of raising capital from a factoring company by small business.

1.2 identify the different parties involved in reinsurance and their various roles. Positive economics (a) does not depend on market interactions. The mobilehome endorsement alters the homeowners policy to cover a mobilehome and other structures on land.

The executive summary of the naic white paper states as follows. At a very basic level, it is some form of protection from any possible financial losses. The basic principle of insurance is that an entity.

Legal purpose is a term used in contract law meaning a) there must be an offer and acceptance b) the contract must be aleatory Which of the following is not a concern of the insurance regulatory framework? 25) a fire insurance policy usually includes an_____ to discourage the under insurance of stock or any asset.

To provide political risk insurance. We hope the given ncert mcq questions for class 11 business studies chapter 1 nature and purpose of business with answers pdf free download will definitely yield fruitful results. B) selling of account receivables on a contract basis for cash payment to a factor before it is due.

Business risk is not likely to arise due to (a) changes in government policy (b) good management (c) employee dishonesty (d) power failure. A) it has to safeguard the interests of the customers. This period is intended to provide income for the rest of the annuitant's life.

Pay for urgent medical expenses to save the life of an insured person if that is needed. A) 11.5% b) 12.5% c. Limited purpose subsidiaries can also be created for similar purposes.

Insurance is a mechanism that helps to reduce the effects of adverse situations in the economical way. Cargo insurance is not always automatically included for all shipped goods—this often varies by region. Correct answer indicated by ⇒ 1.

(c) ⇒ examines how the economy actually works (as opposed to how it should work). Students who are searching for ncert mcq questions for class 11 business studies chapter 1 nature and purpose of business with answers pdf free download are compiled here to get good practice on all fundamentals. D) a method of discounting of long term bills.

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