Important Banking Awareness Quizzes (Topic Wise) Day-92

Important Banking Awareness Quizzes (Topic Wise) Day-92:

Dear Readers, Here we have provided the Important Banking Awareness Quizzes based on particular topic, which will help to understand and prepare in a better way. Candidates those who are preparing for upcoming IBPS Exams 2017 can make use of it.

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1. ___________ is a local government official who estimates the value of real property within a city, town, or village’s boundaries

1. Estimator
2. Processor
3. Developer
4. Assessor
5. None of these

2. ____________ is compensation for damages or loss. Indemnity in the legal sense may also refer to an exemption from liability for damages

1. Repatriation
2. Depreciation
3. Consideration
4. Assignment
5. None of these

3. The Amount you have to pay out of pocket for expenses before the insurance company will cover the remaining costs is called ____________

1. Deductible
2. Cancellation
3. Collectable
4. Renewable
5. None of these

4. __________is an agreement given by the beneficiary to make periodic payments which continue during the survival of the annuitants or for specific period

1. Allowance
2. Guarantee
3. Annuity
4. Warranty
5. None of these

5. The person who is more specialists in the mathematics of insurance who can do all calculations includes rates, reserves, dividends and other statistics is called __________

1. Insurer
2. Actuary
3. Surveyor
4. Developer
5. None of these

6. Termination of the policy due to failure of the payment of required renewal premium is called __________

1. Omission
2. Completion
3. Unpaid
4. Lapse
5. None of these

7. A ________ bond is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals

1. Fidelity
2. Surety
3. Insured
4. Safety
5. None of these

8. __________period is the provision in most loan and insurance contracts that allows payment to be received for a certain period of time after the actual due date

1. Policy
2. Premium
3. Notice
4. Additional
5. None of these

9. ___________in insurance means a request, from the proposer to the insurer, for giving protection against a risk.

1. Conversion
2. Proposal
3. Suggestion
4. Obligation
5. None of these

10. Compensation paid by an organization for out-of-pocket expenses incurred or overpayment made by an employee, customer, or other party is called ___________

1. Insured amount
2. Arbitration
3. Reimbursement
4. Retention
5. None of these

11. ____________ is an insurance industry practice in which an insurer takes action retroactively to cancel a policy holder’s coverage by citing omissions or errors in the customer’s application

1. Rescission
2. Endorsement
3. Mortgage
4. Comprehensive
5. None of these

12. ____________bond is defined as a contract among at least three parties: the obligee: the party who is the recipient of an obligation

1. Fresh bond
2. Register bond
3. Foreign bond
4. Fidelity bond
5. None of these

13. ______________ is designed to help protect you from major claims and lawsuits and as a result it helps protect your assets and your future

1. Liability insurance
2. Self insurance
3. Umbrella insurance
4. Safe insurance
5. None of these

14. ___________is a term used by life insurers to describe the process of assessing risk

1. Representative
2. Insurer
3. Assuring
4. Underwriting
5. None of these

15. _______________in an insurance policy is a promise by the insured party that statements affecting the validity of the contract are true

1. Guarantee
2. Warranty
3. Surety
4. Insured
5. None of these

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