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1. Insurance is a
i) straddle ii) transaction iii) dealing iv) contract

2. Risk arises out of
i) uncertainty ii) possessiveness iii) smaller gain iv) insurance

3. A decline of value due to contingency is called
i) risk ii) financial loss iii) prime loss iv) indifference

4. A risk to which property is exposed
i) commercial ii) fire iii) flood iv) supply

5. Putting fire to a factory is a example for
i) societal hazard ii) moral hazard iii) morale hazard iv) cultural hazard

6. The risks that is generally insurable are
i) pure risks ii) speculative risks iii) dynamic risks iv) static risks

7. An example for group risk is
i) robbery ii) tension iii) earthquake iv) unemployment

8. A device in which a sum of money is paid by the insured is
i) peril ii) insurance iii) transfer iv) contract

9. Insurance is not possible, without
i) premium ii) property iii) charity iv) portfolio

10. Insurance companies are
i) risk managers ii) risk takers iii) risk makers iv) risk bearers