Administrator

2449. Which of the below insurance proposal is not likely to qualify under non-medical underwriting?

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Savita, aged 26 years, working in an IT company as a software engineer
Mahesh, aged 50 years, working in a coal mine
Satish, aged 28 years, working in a bank and has applied for an insurance cover of Rs. 1 crore
Pravin, aged 30 years, working in a departmental store and has applied for an endowment insurance plan for a tenure of 10 years
✅ The correct answer is B.
Mahesh, aged 50 years, working in a coal mine is not likely to qualify under non-medical underwriting.

233. When obligation is not probable or the amount expected to be paid to settle the liability cannot be measured with sufficient reliability, it is called

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Contingent liability
Provision
Secured loan
None of the above
✅ The correct answer is A.
When obligation is not probable or the amount expected to be paid to settle the liability cannot be measured with sufficient reliability, it is called Contingent liability. Contingent liability is a potential liability that may occur, depending on the outcome of an uncertain future event.

2453. A firm earns economic profit when total profit exceeds

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Normal profit
Implicit costs
Explicit costs
Variable costs
✅ The correct answer is A.
A firm earns economic profit when total profit exceeds Normal profit. Economic profit is the profitability measurement that calculates the amount that revenues received from selling a product exceeds opportunity costs incurred from using resources to make and sell these products.

2458. The AR curve and industry demand curve are same in case of

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Monopoly
Oligopoly
Perfect competition
None of the above
✅ The correct answer is A.
The AR curve and industry demand curve are same in case of Monopoly. In a monopoly, the price is set above marginal cost and the firm earns a positive economic profit. Perfect competition produces an equilibrium in which the price and quantity of a good is economically efficient.

2461. Which service encompasses all technologies used to transmit and process information on an across a network?

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Interoperability
Scalability
Benchmarking
Web services
✅ The correct answer is D.
Web services encompasses all technologies used to transmit and process information on an across a network. Web services is a standardized way or medium to propagate communication between the client and server applications on the World Wide Web.

2462. Identify the economist who had little formal education and started working in the money market at an early age of fourteen.

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David Ricardo
Adam Smith
V.F.Pareto
A.Cournot
✅ The correct answer is A.
David Ricardo the economist had little formal education and started working in the money market at an early age of fourteen. At the age of 14 he entered into business with his father, who had made a fortune on the London Stock Exchange.