Bissoy.com
Doctors Medicines MCQs Q&A

Insurance is a system of-

Insurance is a system of- Correct Answer Spreading risk

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium.

Related Questions

According to a survey of business firms in a certain city, 750 firms offer their employees health insurance , 640 offer dental insurance and 280 offer health insurance and dental insurance. How many firms offer their employees health insurance or dental
Below are given statements followed by some conclusions- You have to take the given statements to be true even if they seem to be at variance with the commonly known facts- Statements: 1- Health insurance in India caters only to rich. 2- Health insurance sector should be regulated. Conclusion: I. Health insurance sector should be nationalized II. Health insurance is not required for the poor. Decide which of the given conclusions logically follow(s) from the given statements.
Following are the shortilisting criteria for a candidates to be called for Interview for the post of Deputy Manager in an Insurance company. The candidate must (i) be at least 30 years and not more than 35 years as on 1st January, 2020. (ii) be a graduate in any discipline. (iii) have done MBA with specialisation in insurance with at least 75% marks. (iv)have at least one year post qualification work experience in an insurance company. (v) have secured at least 60% of marks in the screening test conducted by the company. (vi) a native of Maharashtra. However, if the applicant fulfills the above mentioned criteria except a) at (iv) above, the case may be referred to the General Manager of the company. b) at (v) above, the case may be referred to the Chief Manager of the company. c) at (vi) above but has studied Marathi as one subject in class 10, his case will be referred to Divisional Manager of the company. Rekha Kesharwani is 32 years old as on 1st Jan 2020. She has done B.Sc. from a university in Uttar Pradesh. She has done her post graduation in Business administration with a specialisation of Insurance from a reputed institute at Pune in 2016. She has scored 75% marks in the screening test conducted by the company. She is working as a development officer in LIC of India. What decision about Rekha Kesharwani can be taken on the basis of the information given above?
Ajay pays insurance premium for his employees. Which of the following insurance premiums will not be treated deductible as compensation paid to an employee?I. Health insurance with benefits payable to an employeeII. Keyman life insurance with benefits payable to Ajay
Which of the following statements are false?I. Policy decisions in an insurance organization mean decisions relating to issue of specific insurance policies.II. Policy decisions in an insurance organization mean decisions relating to different kind of plans of insurance to be offered to the public.
Ajay pays insurance premium for his employees. Which of the following insurance premiums will not be treated deductible as compensation paid to an employee?
I. Health insurance with benefits payable to an employee
II. Keyman life insurance with benefits payable to Ajay
Which of the following correctly describes, what the Bancassurance is
1. It is an arrangement where by the branches of a bank sell/distribute insurance products of an insurance company.
2. It is a new product developed/launched by the banks in which the risks of the high value customers are covered for any losses to their property and/or lives through an insurance cover.
3. It is a new product launched by the banks by which they are providing insurance cover to exporters/importers for the losses, if any due to high fluctuations in the exchange rates of dollars and other major currencies.
Select the correct answer
Which of the following is correct? Statement A – Insurance reduces burdens Statement B – Insurance is a system of mutual support. Statement C – Insurance the only method to manage risks.
Which of the following is correct?
Statement A – Insurance reduces burdens
Statement B – Insurance is a system of mutual support.
Statement C – Insurance the only method to manage risks.
In the given sentence, choose the part of the sentence that contains an error. If measures built into the legal and regulatory systems for insurance are followed diligently, the insurance for your insurance policy work optimally.