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Insurance Awareness - Insurance Terms — Insurance Awareness Questions & Practice

173 Insurance Awareness - Insurance Terms questions from Insurance Awareness for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong. का अभ्यास करें

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Insurance Awareness - Insurance Terms पर अभ्यास प्रश्न — उत्तर सहित

Try each question first, then open the answer. Explanations are included.

1. What does the insurance term 'Premium' mean?

  1. AThe amount paid by a policyholder to an insurer to keep an insurance policy in force
  2. BAn additional benefit that can be added to a basic insurance policy for extra coverage, usually for an additional premium
  3. CThe date on which an insurance policy's term ends and the sum assured, plus any bonus, becomes payable
  4. DA specified time period during which certain benefits under a policy, especially health insurance, are not available
उत्तर दिखाएँ

उत्तर: A

'Premium' relates to: The amount paid by a policyholder to an insurer to keep an insurance policy in force

2. Which of the following best defines 'Premium'?

  1. AThe amount paid by a policyholder to an insurer to keep an insurance policy in force
  2. BA specified time period during which certain benefits under a policy, especially health insurance, are not available
  3. CA cost-sharing arrangement where the policyholder pays a fixed percentage of the claim amount
  4. DThe process by which an insurer evaluates the risk of insuring an applicant and determines the premium
उत्तर दिखाएँ

उत्तर: A

'Premium' relates to: The amount paid by a policyholder to an insurer to keep an insurance policy in force

3. In insurance, 'Premium' refers to:

  1. AThe process by which an insurer evaluates the risk of insuring an applicant and determines the premium
  2. BSpecific conditions or circumstances listed in a policy that are not covered by the insurer
  3. CA cost-sharing arrangement where the policyholder pays a fixed percentage of the claim amount
  4. DThe amount paid by a policyholder to an insurer to keep an insurance policy in force
उत्तर दिखाएँ

उत्तर: D

'Premium' relates to: The amount paid by a policyholder to an insurer to keep an insurance policy in force

4. Which insurance term is described as: 'The amount paid by a policyholder to an insurer to keep an insurance policy in force'?

  1. Aप्रीमियम
  2. BInsurance Broker
  3. CLapse
  4. DAnnuity
उत्तर दिखाएँ

उत्तर: A

This corresponds to 'Premium'.

5. Identify the term: 'The amount paid by a policyholder to an insurer to keep an insurance policy in force'.

  1. ASurrender Value
  2. Bप्रीमियम
  3. COwn Damage Cover
  4. DClaim
उत्तर दिखाएँ

उत्तर: B

This corresponds to 'Premium'.

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