Types of Insurance — Practice Quiz
ICSE · Class 11 · Commerce
Try a 4-question quiz on Types of Insurance for ICSE Class 11 Commerce: tap an answer to check it and see why. 65 questions in the full chapter test.
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Quick Quiz: Types of Insurance
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Which statement correctly classifies insurance into its two broad categories?
What does the insurer do in an insurance contract?
Which statement about the insured is correct?
Which statement best describes life insurance?
Sample Questions
Which options are included under General Insurance?
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Fire Insurance, Marine Insurance, Social Insurance
General Insurance includes Fire Insurance, Marine Insurance, Social Insurance, and Miscellaneous Insurance.
Which statement about life insurance business is correct?
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It means contracts of insurance upon human life and related contingencies
Life insurance business includes contracts on human life and contracts where payment is assured on death or other human-life contingencies.
Which features are true of life insurance?
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It is a contract between insurer and insured, The insured pays periodic premium, A fixed sum assured is paid on death or expiry
Life insurance is a contract where periodic premium is paid and a fixed sum assured is paid on death or on expiry of the policy period.
Which pair correctly shows the dual purpose of life insurance?
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Protection and investment
Life insurance serves both protection and investment purposes.
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