Motor Insurance QuizMotor Insurance QuizTime: 00:00Q1. Which of the following statements is correct with regards to insurable interest of partners in a motor vehicle? Partners always have equal insurable interest in the motor vehicle Partners have insurable interest in the motor vehicle as per the partnership provisions As per the provisions of the Motor Vehicle Act, the partner with the highest stake in the partnership always has the entire insurable interest in the motor vehicle As per the provisions of the Partnership Act, the partner with the highest stake in the partnership always has the entire insurable interest in the motor vehicleQ2. In case of private cars, driving license of persons above the age of 50 years would be: Renewed for lifetime on payment of prescribed fees Renewed for a year at a time on payment of prescribed fees Renewed for a period of three years at a time on payment of prescribed fees Renewed for a period of five years at a time on payment of prescribed feesQ3. The existence of the Tariffs in which of the following muted competition to some extent? Fire Motor Engineering Workmen's Compensation All of the aboveQ4. Which of the following is NOT a type of motor vehicle as per the Motor Vehicles Act, 1988? Motor Car Motor Cycle Motor Boat Goods CarriageQ5. Which form is used for the application for a contract carriage permit? Form PCA Form 45 Form P.R.A. Form 48Q6. What is the primary purpose of underwriting in motor insurance? To determine the premium for the policy To assess the risk associated with insuring a vehicle To handle claims made by policyholders To market insurance policies to potential customersQ7. Which of the following factors is NOT typically considered during the underwriting process in motor insurance? The make and model of the vehicle The driving history of the policyholder The color of the vehicle The geographical area where the vehicle will be primarily usedQ8. What is the first step in the process of filing a motor insurance claim? Notifying the insurance company about the incident Repairing the vehicle Filing a police report Paying the deductibleQ9. Which document is NOT typically required when filing a motor insurance claim? Driver's license Vehicle registration certificate Insurance policy document Credit card statementQ10. Which of the following is a benefit of using IT applications in motor insurance? Increased paperwork Faster processing of claims Higher premiums More frequent accidentsQ11. Which technology is commonly used for tracking vehicles in motor insurance? GPS Bluetooth Wi-Fi NFCQ12. What is one way to achieve consumer delight in motor insurance? Increasing the premiums Providing faster and more efficient claims processing Reducing the coverage options Ignoring customer feedbackQ13. Which of the following is NOT a common method used by insurance companies to enhance customer satisfaction? Offering 24/7 customer support Providing personalized insurance policies Increasing the number of required documents for claims Implementing user-friendly mobile appsQ14. What does third party liability insurance cover? Damage to the insured's own vehicle Injuries to the insured driver Damage or injury caused to a third party by the insured vehicle Theft of the insured vehicleQ15. Which of the following is NOT typically covered under third party liability insurance? Medical expenses of the third party Legal fees for the insured Damage to the insured's own vehicle Property damage of the third partyQ16. What is the first step in defending a motor insurance claim? Accepting the claim without investigation Investigating the circumstances of the claim Paying the claim immediately Ignoring the claimQ17. Which of the following is a common defense used by insurers in motor insurance claims? The insured vehicle was not involved in the accident The claim was filed too late The insured did not pay the premium All of the aboveQ18. What is quantum fixation in the context of motor insurance claims? Determining the amount of compensation to be paid Fixing the premium for the insurance policy Deciding the type of coverage to be provided Setting the deductible for the policyQ19. Which factors are typically considered in quantum fixation for motor insurance claims? The extent of damage or injury The age and income of the claimant The type of vehicle involved All of the aboveQ20. What is the primary goal of fraud management in motor insurance? To increase the number of claims To detect and prevent fraudulent claims To reduce the premiums To speed up the claims processQ21. Which of the following is a common method used for fraud detection in motor insurance? Randomly approving all claims Using data analytics to identify suspicious patterns Ignoring small claims Increasing the deductible for all policyholders Submit QuizQuiz ResultsCorrect Answers0Wrong Answers0Time Taken00:00Detailed Answers:
