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#2
2nd December 2016, 05:19 PM
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| Re: Question and Answer of IRDA
As you want to get question papers of IRDA Exam with answers, so here I am providing following papers: IRDA Exam Paper 1. Insurance is a mechanism to reduce impact of adverse events on a) Non-value generating assets. b) Value generating assets. c) Current assets d) Fixed assets 2. Perils could be a) Uncertain b) Certain c) Definite d) Unlikely 3. Insurance is a function of a) Uncertainty b) Life c) Society d) Loss 4. Insurance works on the principle of a) Sharing of profits b) Sharing of assets c) Sharing of losses d) Sharing of expenses 5. A) Life Insurance protects the life of the insured. B) Life Insurance minimizes the financial impact of untimely death. a) A is correct b) B is correct c) Both A & B are correct d) Both A & B are wrong 6. Occurrence of ----- has to be ------ & not a -------- of the insured person. a. peril, uncertain, creation b. event, certain, creation c. risk, hazardous, profit d. event, random, creation 7. For getting insurance you need to pay ------- and get compensated by -----. a) Compensation, Claims b) Claims, Premium c) Premium, Claims d) Fees, Claims 8. ------------ is the process, which prevents entry of people who do not share the same risk. a) New Business b) Valuation c) Underwriting d) All of the above 9. Life insurance is ------------- to the state’s efforts in social management. a) Complementary b) Supplementary c) Elementary 10. The insurance company is in the role of --------- where all decisions are taken for the benefit of the community. a) Caveat Emptor b) Uberrimae Fides c) Underwriter d) Fiduciary. 11. To make accurate statistical estimates insurance risks must be handled as per the law of a) Law of Inertia b) Law of Large Numbers c) Law of Large Groups d) None of the above 12. The insurer is in the position of ------- of funds a) Owner b) Partner c) Trustee d) All of the above 13. Insurance is applicable to a) Tangible Assets b) Intangible Assets c) Both of the above d) None of the above 14. Article -------- relates to Social Security a) 39 b) 40 c) 41 d) 42 15. A) In order to be insurable a risk must be capable of Statistical estimation B) In insurance only economic or financial losses can be Compensated. a) Statement A is correct b) Statement B is correct c) Both are correct d) None of the above   |