1st Year Principles of Commerce Chapter 18 TestInsurance

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. The insurance policy which can not be transferred to another person:

   1. Life insurance

   2. Marine insurance

   3. Fire insurance

   4. Accidental insurance

2. According to Jiwan Sathi insurance, the husband and wife are provided with financial security in:

   1. One installment

   2. Two installment

   3. Three installment

   4. Four installment

3. Which insurance policy can be used as a security:

   1. Marine insurance

   2. Fire insurance

   3. Life insurance

   4. All the correct

4. Important kinds of insurance are:

   1. Marine insurance

   2. Fire insurance

   3. Life insurance

   4. All

5. The person who gets himself insured is called:

   1. Insured

   2. Proposer

   3. Insurance policy

   4. Both A and B

6. On the death of the insured, sum is paid to:

   1. Friends

   2. Dependents

   3. Relatives

   4. Insurer

7. What type of security does life insurance offer?

   1. Individual

   2. Collective

   3. Both

   4. None

8. Why is public not inclined towards insurance in Pakistan?

   1. Due to ignorance

   2. Due to poverty

   3. Due to economic backwardness

   4. All the three

9. Insurance policy is:

   1. Oral

   2. Written

   3. Writtent and Registered

   4. All

10. The sum of marine insurance is not paid:

    1. If the ship changes direction

    2. If the ship is not capable of the voyage

    3. Trade is unnecessary

    4. All these three