CSC VLE Insurance Exam Answer Keys

CSC VLE Insurance Exam Questions and Answers PDF Download Free with all possible errors and their solutions. Get 100% marks no doubt

CSC is offering VLE to get an insurance license at Re.1 whose original price is Rs.200 when VLE try to get a VLE Insurance license they need to pass CSC VLE Insurance Exam.

So in this article, I have written all CSC VLE insurance exam question and answer in the best way by which you will 100% pass with 25 of 25 marks.

[Note: If You Failed In Examination You Need to Pay 100 Rupees For Re-Examination, So Be Careful]

Question: 1) Origins of modern insurance business can be traced on________

Answer: Lloyds

Question: 2) LIC of India Act was passed in June 1956 but it came into force on_____

 Answer: Sept 1, 1956 (✔️).

Question: 3) Every insurer carrying on business in India shall invest and at all times keep invested an amount on exceeding__________of their funds in other capital markets investment.

Answer: 35% (✔️).

 Question: 4) On 26 January of 1956 all Life Insurance Companies Operating in India were taken over by _______nominated custodians.

 Answer: 43 (✔️).

Question:5) Which Among The following is a method of risk transfer?

• Bank FD
• Insurance☑️
• Equity Shares
• Real Estate

Answer: Insurance (✔️).

Question:6) Which of the following statement is true?

• Insurance is a method of sharing losses of a? few ? by many. ☑️
• Insurance is a method of transferring the risk of an

Answer: Insurance is a method of sharing of losses of a? Few. By many? (✔️).

Question: 7) Insurance is a mechanism that helps reduce adverse consequences through_______

• Pooling
• Spreading
• Sharing of risk Pooling, Spreading, and sharing of risk ☑️

Answer: Pooling, Spreading, and sharing of risk ( ✔️).

Question: 8) Employees state insurance act 1948 provides for_____

• Medical aid to workers and their families working in industries located in certain notified areas ☑️
• Both the above

Answer: Medical aid to workers and their families working in industries located in certain notified areas (✔️).

Question: 9) Pradhan Mantri Jeevan Jyoti Bima Yojana is to benefit people in case of

death. This scheme with a premium of

Rs. 330 and coverage of Rs.2 lakh is available to persons in the age group of_____

• 18-45
• 18- 50☑️
• 18-55
• 20-55

Answer: 18 – 50 (✔️).

Question: 10) General Insurance means?

• Insurance of property against fire, burglary, etc.
• Personal insurance such as accident, health insurance, etc.
• All the above ☑️

Answer: All The Above (✔️).

Question: 11) An insurer is bound to furnish details regarding_____

• Standard features of the policy.
• Premium/deduction as
• All the above three ☑️

Answer: All The above three (✔️).

Question: 12) How does a breach of Utmost Good faith occur in a contract of insurance?

• Through misperception
• Through non-disclosure
• Through both of the above ☑️
• Through non of the above

Answer: Through both of the above (✔️).

Question: 13) In property insurance Insurable interest must exist at the time of______

• Inception
• Loss
• Inception and loss both☑️

Answer: Inception and Loss both(✔️).

Question: 14) Generally a person seeking insurance writes a form to the insurer and applies for insurance. This form is known as______

• Application form
• Proposal form☑️
• Policy form
• Endorsement form

Answer: Proposal form (✔️).

Question: 15) In any contract if there is an offer and acceptance, what is the third condition that must be fulfilled to make it a complete contract?

• Consideration ☑️
• Lien
• Counteroffer
• Deferment

Answer: Consideration (✔️).

Question: 16) A fact that influences a prudent underwriter’s decision to accept the risk or not is known as_____

• Main fact
• Common fact
• Material fact ☑️

Answer: Material Fact(✔️).

Question: 17) Gautama gets his tractor insured for a sum saying that the tractor is two years old. But in an accident, when the tractor becomes a total loss, the insurer comes to know that the said tractor was 10 years old. The insurer can reject the claim stating______

• Misperception
• Non Disclosure of material fact ☑️
• Indemnity
• None of the three

Question: 18) Indemnity means a guarantee or an assurance to put the insured in the same position in which he was immediately prior to the happening of

the contingency insured. That means the insurer undertakes to_____

• Pay the insured amount
• Make good the loss☑️
• To pay 50% of the loss immediately

Question: 19) Ram fell from a horse while riding and got his leg fractured. He kept lying on a wetland for a long time before he was taken to the hospital where he was diagnosed with pneumonia and he died of pneumonia. The proximate cause was_____

• Accidental fall from the horse☑️
• The Pneumonia

Question: 20) Conventionally Insurance has been classified into______

Question: 21) Miscellaneous Insurance business means affecting insurance contracts on all kinds of risks other than_____

• Life Insurance
• Fire insurance
• Marine insurance
• All the three above ☑️

Question: 22) Some insurance cannot be categorized as a standard group and are a part of? Others? insurance like_____

• Crop Insurance
• Cattle Insurance
• Travel Insurance
• All the above ☑️

Answer: All The above (✔️).

Question: 23) All the Insurers in India are governed by the rules and regulations framed by IRDAI except_____

• LIC of India
• Agricultural Co. of India
• Postal Life Insurance ☑️
• None of the above

Answer: Postal Life Insurance (✔️).

Question: 24) A household insurance means _____

• To take out a policy covering the fixed assets of the household.
• Both of the above ☑️

Answer: Both of the above (✔️).

Question: 25) Life Insurance provides products like_____

• Term Insurance and Endowment Insurance
• Whole Life Insurance and Annuities☑️
• Both of the above

Answer: Whole Life Insurance and annuities (✔️)

=> Now Click “Submit Exam“.

That’s Done Now Your Result Will Show On Next Page And You Got 25 Marks Of 25.

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