This is a pure sample testing, suitable for Insurance Foundation Certificate Examination, Saudi Arabia. This is prepared on the request of some of my trainees and is open to all, those who can utilize it for their benefit. Three sets of 10 questions each has been prepared. Try to complete each set in less than 12 minutes and check your answers with the answer key link given at the bottom of the tenth question. You may write answers on a small sheet of paper or in the comments column and then cross check with the answers provided.
For free course material and other relevant information please visit the following link.
Free Insurance Foundation Certificate Examination English Material Source
1 Which of the following can be called as risk as per Insurance terminology For free course material and other relevant information please visit the following link.
Free Insurance Foundation Certificate Examination English Material Source
a Fire
b Sun
c Bank Guarantee
d Insurance Policy
2 Which is the best example of non-Financial Risk
a Damage to your Car
b Burning of Building by Fire
c Loss of old magazine containing your article
d Theft of your car
3 As per the risk classification the risk, which affects a large group of people is known as
a International Risk
b Property Risk
c Fundamental Risk
d Particular Risk
4 Damage of car in an accident is an example of__________
a Fundamental Risk
b Governmental Risk
c Particular Risk
d Speculative Risk
5 In Insurance terminology a risk which is speculative and non-financial is also known as
a Insurable Risk
b Proximate Risk
c Related Risk
d Un-Insurable Risk
6 The frequently used definition of Insurance is
a Risk Approval
b Risk Transfer
c Risk Appetite
d Eliminating the Risk
7 Find the right definition of Material Fact
a influence the judgement of the prudent underwriter
b influence the judgement of the judge
c influence the judgement of the customer
d influence the judgement of the Claims Investigator
8 A breach that is a deliberate misrepresentation of the facts may be fraudulent and referred to as
a Warranty
b Concealment
c Endorsement
d Ab initio
9 Which of the following can be insured as per the Principle of "Insurable Interest"
1) Ahmed, a taxi driver wants to insure Kingdom tower, not belonging to him and is willing to pay the required premium
2) Salman is a Laundry man and wants to insure the property belonging to his customers in his care custody and control.
a 1 only
b 1 & 2
c 2 only
d None
10 Which of the following class does not apply the "Principle of Indemnity"
a Motor
b Property
c Life
