State need of insurance history in proposal form.

1 Answer

Need of insurance history in proposal form:

1. Gives information about previous insurance policy

2. It gives information about the claims in the previous insurance policy.

3. Gives information about name, address, any no claim bonus in previous policy.

4. Also it gives information about risk exposure of person, property, or vehicle.
thumb_up_alt 0 like thumb_down_alt 0 dislike

Related questions

Description : Discuss importance of insurance history in proposal form.

Answer : Once you decide to buy an insurance plan, the first step is to fill out the proposal form. A proposal form is a legal document that seeks relevant information from you so that the insurance company ... , any no claim bonus in previous policy. 4. It gives information about driving habit of insured.

Description : State any two clauses in insurance proposal form.

Answer : Types of clauses in proposal form: 1. Signature clause: It is also known as attestation clause & it is appeared just below the schedule. The person authorized puts his signature. 2. Schedule clause: ... : It tells that how much the insurer must pay if there is insurance in more than one company.

Description : State function of Insurance Regulating Authority in India (IRDAI)

Answer : Function of Insurance Regulating Authority in India (IRDAI) 1. To regulate the rates, terms and Conditions of insurance, offered to their customer in general insurance business. 2. To ... any other organization connected with insurance company. 5. Make guidelines & arrange trainings to agents.

Description : State procedure to calculate premium for the third party insurance cover.

Answer : Third party insurance is a type of insurance policy that is designed for offering insurance coverage to the third party in case of an accident caused by the insured vehicle. This policy covers the liability ... 2. Type and age of the vehicle 3. Cubic Capacity of the engine 4. Geographical zone

Description : Describe organizational structure, role and justification of motor vehicle insurance organizational in India. 

Answer : Organizational structure:- Section 4 of the IRDAI act 1999 specifies the authority composition. It is a ten member body consisting of : a) Chairmen (Subhash.C.Khuntia from 1st SEP ) b) ... . 7. To advise insurer and insured about loss minimization, control loss for security and safety devise.

Description : Describe role of Insurance Regulatory Authority Of India (IRDAI) in motor vehicle insurance.

Answer : 1. To regulate the rates, terms and Conditions of insurance, offered to their customer in general insurance business. 2. To regulate how insurance company invest their funds and maintain their margin ... . 6. Also making code of conduct for surveyors and loss assessor working with insurance company.

Description : Explain the effect of following physical hazard parameters on renewal of comprehensive insurance policyi. Age of driver ii. Power and capacity of vehicle iii. Load used iv. Forfeiture of custom duty

Answer : i. Age of driver: If age of driver is more (say more than 65 years then there is more chances of accident than young driver which increases physical hazard.  ii. Power and capacity ... the vehicle it creates physical hazard & chances of accident increases then premium amount also will get increase.

Description : Compare third party insurance and comprehensive on following parameters: i. Risk cover ii. Premium iii. Application of vehicle iv. Condition

Answer : i. Risk cover  In third party insurance only covers damage from a accident only to the other people and their property if you are fault.  In case of comprehensive insurance the damage ... injuries and damage to property does not cover.  In comprehensive insurance personal injuries are covered.

Description : List the types of insurance cover.

Answer : Types of insurance cover are as follow : 1. Comprehensive insurance 2. Own damage insurance 3. Third party 4. Fire insurance 5. Marine insurance 6. Life insurance

Description : Explain Concept of Moral Hazard in relevance to age and litigiousness.

Answer : Moral hazard is a term describing how behavior changes when people are insured against losses. If, for example, your car is fully insured against any and all damage and there is no deductible, ... So it is harmful for insurance business. Because of moral hazard, premiums are higher for everyone.

Description : Prepare accident investigation report for a car.

Answer : Whenever an accident occurs all particulars have to be collected and ascertained below: A) General Details: 1) Date ,time and location 2) Registration No. of vehicle involved in an accident ... . E) Negotiate with the insured regarding disposal of salvage F) Prepare detail survey and submit

Description : Explain legal aspects of surveying from surveyor’s perspective.

Answer : Surveyor is the professional who assess the loss or damage & serve the link between insured & insurer. They only function in non-life business. Their main job is to assess the actual loss ... bills and Doctors certificate. The above is the legal Aspects of surveying from surveyor's perspective.

Description : Explain terms ‘compulsory excess’ and ‘voluntary excess’.

Answer : Compulsory excess: The compulsory deductible or excess is also called as mandatory excess. It is part of claim amount which you will have to bear out of your pocket. The amount is decided by ... amount of the voluntary excess changes from company to company. The voluntary excess is set by you. 

Description : Compare compulsory excess and voluntary excess.

Answer : Compulsory excess  Voluntary excess Compulsory excess is the amount payable by insurer in his pocket during claim. Voluntary excess is the extra amount is payable by insurer in his pocket to ... customer to customer. This amount is mandatory. This amount is not mandatory.

Description : Compare investigation and assessment with suitable examples.

Answer : The claim investigation process is the procedure in which insurance company surveyor or loss assessor obtains information to examine the claim. As result it requires various documents to go through, visit to ... is any injury to anyone then surveyor need to investigate the case by above method. 

Description : List types of claim documents.

Answer : Types of claim documents: 1. Policy. 2. Driving License 3. Registration Certificate of Vehicle 4. FIR copy if needed 5. Pan or Adhar card 6. Claim form

Description : List factors affecting moral hazard.

Answer : 1. Intention 2. Carelessness 3. Fraud claim 4. Multiple Insurance 5. Maintenance 6. Behavior 7. Negligence

Description : Define Risk Cover and Premium.

Answer : Risk Cover: The term risk cover can be defined as the compensation of damage during the accident by insurance company.  Premium: The payable amount as per the insurance contract paid by insured is called as premium.

Description : Explain why there is need of different dosage form.

Answer : Need of dosage forms : 1. To protect drug substances from oxidation, hydrolysis, reduction coated tablets, sealed ampoules etc. 2. To protect the drug from destructive ... Sustained release action to control the release mechanism. Eg. Sustained release tablets, capsules and suspensions.

Description : 1. Who is the author of the book Glimpses of World History' ? 2. Which are the glands of the body which pour their seretions directly into the blood stream? 3. The Fundamental ... development of hydroelectricity the pioneering state? 20. Which dynasty did rule over Magadha after Nanda dynasty?

Answer : Answer : 1. Jawaharlal Nehru 2. Endocrine glands 3. 44th 4. Jammu and Kashmir 5. The Government of India Act, 1919 6. Iron 7. Kanyakumari 8. Fiscal policy 9. Saddle Peak 10. Gandhiji 11. ... 14. Gandhi Sagar 15. Pandya 16. Bharatnatyam dancer 17. Gram 18. Mitochondrium 19. Karnataka 20. Maurya

Description : Seats for Mathematics, Science and arts in a school are in the ratio 5:7:8. There is a proposal to increase these seats by X%, Y% and Z% respectively. And the ratio of increased seats is 2:3:4, which of the following is true? A) X = ... ; Z = 50 C) X = 40; Z = 75 D) X = 50; Z = 40 E) Y = 50; X = 75

Answer : Answer: C Number of increased seats are (140% of 5x), (150% of 7x) and (175% of 8x) i.e., (140/100 * 5x), (150/100 * 7x) and (175/100 * 8x) i.e., 7x, 21x/2 and 14x Required ratio = 7x:21x/2: ... of 8 = 6 total seats 8+6=14 Now compare ratios of all 7:21/2:14=>14:21:28 =>2:3:4

Description : The number of candidates writing three different entrance exams is in the ratio 4:5:6. There is a proposal to increase these numbers of candidates by 40%, 60% and 85% respectively. What will be the ratio of increased numbers? a) 14:15:16 b) 12:15:19 c)13:19:21 d) 14:16:19 E) None of these

Answer : Answer : E Given ratio of number of candidates is 4:5:6 Let the number of candidates for 3 exams be 4k, 5k and 6k respectively. After increasing, number of candidates become (140% of 4k), (160% of 5k) & (185% ... 111k/10 Now, the required new ratio is: 56k/100 : 80k/10 : 111k/10 = 56 : 80 : 111

Description : Sourya committee had proposed the establishment of sourya institutes of Technology (SITs) in line with Indian Institutes of Technology (IITs) to cater to the technological and industrial needs of a developing country Which of the ... (iv) only (C) (ii) and (iv) only (D) (ii) and (iii) only

Answer : Correct option is (C). Option (i) and (iii) state phrases like ‘in the initial years’ and ‘SIT like institutions can only be established in consultation with IIT’ cannot be logically inferred so (ii) and (iv) are the best inferences i.e. option (C) 

Description : When a definition implies a proposal to use the definiendum to mean what is meant by the definiens it is called (A) Lexical definition (B) Stipulative definition (C) Precising definition (D) Persuasive definition

Answer : (B) Stipulative definition

Description : According to some analysts, whatever its merits, the proposal to tax away all capital gains on short-term investments would, if enacted, have a disastrous effect on Wall Street trading and employment. (A) its ... , taxing (D) the proposal's merits, to tax (E) the proposal's merits are, taxing

Description : Which of these are not included in territory sector? (a) Banking ; (b) Insurance ; (c) Agriculture ; (d) Transport

Answer :  (c) Agriculture ;

Description : Supriya invests 35% of her monthly salary in insurance policies. She spends 45% of her monthly salary in shopping and on household expenses. She saves the remaining amount of `25,750. What is Supriya's monthly income? a) 128750 b) 160050 c) 205200 d) 263400 e) 391800 

Answer : Answer: A  Percentage savings of Supriya = 100 – (35 + 45)  = 20%  Let her monthly income be x  x X 20 /100 = 25750  x = 25750 × 100/20  x = 128750

Description : What is mean by third party Insurance and Comprehensive Insurance of vehicle.

Answer : Motor vehicle Insurance is an agreement between the insurer and the insured wherein the insurer provides financial cover for the vehicle and the insured in return pays specific premium annually. It provides ... this policy for life time. For other vehicles this policy has to be renewed annually. 

Description : Which Of The following Is A Disadvantage Of Teaching Machine? Options: A) The Insurance Of Attention B) Their Universal Use For Different Kinds Of Programmes C) The Tracking Of Errors D) All Of These

Answer : A) The Insurance Of Attention 


Answer : Answer: B

Description : A recent study has found that within the past few years, many doctors had elected early retirement rather than face the threats of lawsuits and the rising costs of malpractice insurance. (A) had ... have elected to retire early rather than facing (E) have elected to retire early rather than face

Description : National Social Assistance Programme is aimed at providing (1) financial support to Scheduled Castes and Scheduled Tribes (2) old age pension to very poor (3) insurance for the poor (4) All of the above

Answer : old age pension to very poor

Description : Which of the following is not considered as National Debt ? (1) National Savings Certificates (2) Long-term Government Bonds (3) Insurance Policies (4) Provident Fund

Answer :  Insurance Policies

Description : Which of the following is not viewed as national debt ? (1) Life Insurance Policies (2) Long-term Government Bonds (3) National Savings Certificates (4) Provident Fund

Answer : Life Insurance Policies

Description : Which of the following are not fixed costs? (1) Rent on land (2) Municipal taxes (3) Wages paid to workers (4) Insurance charges

Answer :  Wages paid to workers

Description : State the need for filter circuits in power supply.

Answer : Ripple must be kept away from the load and it should be removed from the rectified output. Therefore , there is a necessity of filter circuit for removing i.e. smoothing or filtering the ripple and allowing the (pure or steady) d.c. voltage to reach the load.

Description : Consider a system with twelve magnetic tape drives and three processes P1, P2 and P3. Process P1 requires maximum ten tape drives, process P2 may need as many as four tape drives and P3 may need upto nine ... , system is in: (A) safe state (B) unsafe state (C) deadlocked state (D) starvation state

Answer : Answer: B

Description : State need of delay line in CRO. 

Answer : The delay line is used in CRO to delay the signal for some time in thevertical sections. As horizontal channel consists of trigger circuit andtime based generator. This causes more time to reach ... vertical plates. For synchronization of reachinginput signal at same time to both the plates in CRT. 

Description : Explain the Need of draft tube in reaction turbine .state the types of draft tube used in it

Answer : Draft tube is a pipe of gradually increasing diameter which connects the exit of runner of turbine to tail race. In case of reaction turbine , one part of available head is converted into K.E before ... . iv. Elbow draft tube with circular cross section at inlet and rectangular at outlet.

Description : State the need of surge tank in hydroelectric power plant.

Answer : It is the tank provided in the path of penstock to avoid pulsating discharge at inlet of turbines. To reduce effect of water hammer surge tanks are provided. During flow of ... reservoir to turbine through penstock pressure surges are created to compensate these surges surge tank is provided.

Description : State the need of advanced material in making of automobile components.

Answer : The general finding highlights the need for developing material systems methodology and for approaching research issues in terms of material life cycles.  Improved materials and material ... Modeling of material system. Materials system research, Lightweight material for body structure.

Description : State the need for strictly following safety rules while working in electrical installations. 

Answer : Need for strictly following safety rules while working in electrical installations: 1. To avoid the electrical shock to the human being and to provide safe guard. 2. To minimize the chances ... of the electrical devices. 5. To minimize the chances of mechanical and electrical accidents. 

Description : State the need of tuned amplifier in electronic circuits.

Answer : Necessity of tuned amplifier: 1. Selection of the desired radio frequency signal. 2. Amplification of the selected signal to a selected voltage level.

Description : State the need of modulation in communication system.

Answer : Need of modulation:- 1. To reduce the height of antenna 2. To avoids mixing of signals 3. To increases the range of communication 4. To make multiplexing of maximum signal is possible 5. To improve the quality of reception

Description : State the need of earthing in electrical systems.

Answer : Need of Earthing: Earthing is provided to protect human from shocks due to leakage current. OR Earthing is to ensure safety or protection of electrical equipment and Human by discharging the electrical leakage current to the earth. 

Description : State the need of cogeneration in present scenario.

Answer : Need for co-generation in present scenario: 1. In conventional power plant efficiency is only 35% & remaining 65% of energy is lost. 2. The conventional system uses energy of fuel ... economical solution to energy shortages. 4. Increases financial capital. 5. Increases environmental value. 

Description : State the need of energy conservation in transformer. 

Answer : Need of energy conservation in transformer: In electrical power system, transformers are used to change the voltage levels of different sections as per the need of economic and efficient operation of ... for some other good reason. Therefore, there is need of energy conservation in transformer.

Description : State the need of energy conservation in electrical motor.

Answer : Need of energy conservation in Electrical motors: 1. Induction motors are used as electrical drives in industrial, commercial and residential sectors. 2. Considering all industrial applications, 70% of ... system. 8. To adopt advanced technology in design and to use better quality materials.

← Prev Question Next Question →
editChoose topic