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SAI INTERNATIONAL SCHOOL
CLASS-XI

SUB: Business Studies
Chapter 4: Business Services
Home Assignment 18 Principles of Insurance

ASSESSMENT MCQ:

1. Which of the following is not a function of insurance?
(a) Risk sharing
(b) Assist in capital formation

(c) Lending of funds
(d) None of the above
2. Which of the following is not applicable in Life Insurance contract?
(a) Conditional contract
(b) Unilateral contract

(c) Indemnity contract
(d) None of the above
3. Name the controlling authority of telecom services in India,
(a) TRAI
(b) SEBI
(c) RBI
(d) IRDA

4. In which of the insurance policy loss cannot be measured?
(a) Life Insurance
(b) Marine Insurance
(c) Fire Insurance
(d) All of the above
5. It is the duty of the insured to make an effort for minimization of loss. It is the principle of:

(a) Utmost Good Faith
(b) Contribution
(c) Mitigation
(d) Insurable Interest

HOME ASSIGNMENT

1 Mark Questions