MCQ quiz on Risk Management multiple choice questions and answers on Risk Management MCQ questions on Risk Management objectives questions with answer test pdf for interview preparations, freshers jobs and competitive exams.

Risk Management MCQ Questions and Answers Quiz

1. The general insurance corporation is holding company, which has ...............subsidiary companies

  1. 10
  2. 12
  3. 4
  4. 6

2. LIC (Mauritius) ltd. Was set in ...............

  1. 1990
  2. 2001
  3. 2009
  4. 1998

3. The idea of insurance ombudsman was mooted in the year

  1. 1998
  2. 1938
  3. 1986
  4. 1990

4. Insurance Ombudsman is open to all individuals whose claim amount is less than

  1. 1 Crore
  2. 20 crores
  3. 20 lakhs
  4. 10 lakhs

5. 1) Active risk retention means that the firm is aware of the loss exposure and plans to retain a part or all of it. 2) Passive retention however is the failure to identify a loss exposure, failure to act. Which of the above statement is not correct.

  1. 1,2
  2. only 2
  3. only 1
  4. none of the above

6. Which of the following are the principles of Risk Manangement. 1. Principle of risk identification 2. Principle of risk ananlysis 3. Principle of Risk assessment 4. Principle of Risk Control.

  1. 1,2,3
  2. 1,4
  3. 1,3,4
  4. 1,2,3,4

7. Which type of insurance policy will protect a business from theft and forgery by its employees?

  1. a fidelity bond
  2. burglary insurance
  3. robbery insurance
  4. indemnity insurance

8. A method for reducing the cost of health care by offering the services of doctors and hospitals at discount rates or giving breaks in co-payments and deductibles is offered by

  1. a health maintenance organization
  2. a major medical plan
  3. Medicare
  4. a preferred provider organization

9. Higher the percentage of ...............in GDP , lower the insurance penetration

  1. agriculture
  2. insurance
  3. banking
  4. all of above

10. ...............contract means that only one party makes a legally enforceable promise

  1. aleatory contract
  2. unilateral
  3. conditional
  4. personal
Tags

MCQ Multiple Choice Questions and Answers on Risk Management

Risk Management Question and Answer