Mega Quiz 10 and weekly revision || VARC || CAT 2021 || 23 May
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Question 1
Uncertainty is the fundamental fact of life. This uncertainty leads to fear of risk in our life. Fear of risk can be satisfied by taking all precautions to avoid risk. In spite of all precautions, accident occurs. So, Insurance is one of the best techniques to face this uncertainty. It is important to understand that risk is the part of any person’s life. So, Life Insurance is a tool which safeguards an individual’s life with benefits. There are many life insurance companies in India, but LIC plays a major role in this field.
Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument.
There are mainly two parties involved in this- the insurer and the insured. The insurer is the insurance company who will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc.
The story of insurance is probably as old as the story of the mankind. The same instinct that prompts modern businessman today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era-past few centuries-yet its beginnings date back almost 6000 years.
Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first Life Insurance Company on Indian soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian Enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society.
Source: apjor.com/files/1421259088.docx
I. We can deal with the risk in various ways but insurance is one of the best techniques to deal with the risk.
II. Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed.
III. Insurance as a financial intermediary is a commercial enterprise and a major part of the financial services industry, but individual entities can also self-insure through saving money for possible future losses.
IV. The loss takes place at a known time, in a known place, and from a known cause.
V. Insurable losses are ideally independent and non-catastrophic, meaning that the losses do not happen all at once and individual losses are not severe enough to bankrupt the insurer; insurers may prefer to limit their exposure to a loss from a single event to some small portion of their capital base.
Question 2
Uncertainty is the fundamental fact of life. This uncertainty leads to fear of risk in our life. Fear of risk can be satisfied by taking all precautions to avoid risk. In spite of all precautions, accident occurs. So, Insurance is one of the best techniques to face this uncertainty. It is important to understand that risk is the part of any person’s life. So, Life Insurance is a tool which safeguards an individual’s life with benefits. There are many life insurance companies in India, but LIC plays a major role in this field.
Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument.
There are mainly two parties involved in this- the insurer and the insured. The insurer is the insurance company who will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc.
The story of insurance is probably as old as the story of the mankind. The same instinct that prompts modern businessman today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era-past few centuries-yet its beginnings date back almost 6000 years.
Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first Life Insurance Company on Indian soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian Enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society.
Source: apjor.com/files/1421259088.docx
Which of the following is the MOST OPPOSITE in meaning to the given word?
PRECAUTION
Question 3
Uncertainty is the fundamental fact of life. This uncertainty leads to fear of risk in our life. Fear of risk can be satisfied by taking all precautions to avoid risk. In spite of all precautions, accident occurs. So, Insurance is one of the best techniques to face this uncertainty. It is important to understand that risk is the part of any person’s life. So, Life Insurance is a tool which safeguards an individual’s life with benefits. There are many life insurance companies in India, but LIC plays a major role in this field.
Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument.
There are mainly two parties involved in this- the insurer and the insured. The insurer is the insurance company who will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc.
The story of insurance is probably as old as the story of the mankind. The same instinct that prompts modern businessman today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era-past few centuries-yet its beginnings date back almost 6000 years.
Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first Life Insurance Company on Indian soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian Enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society.
Source: apjor.com/files/1421259088.docx
I. Bombay Mutual Life Assurance Society
II. Bharat Insurance Capital Company
III. National Indian and National Insurance
IV. Co-Operative Insurance Company
Question 4
Uncertainty is the fundamental fact of life. This uncertainty leads to fear of risk in our life. Fear of risk can be satisfied by taking all precautions to avoid risk. In spite of all precautions, accident occurs. So, Insurance is one of the best techniques to face this uncertainty. It is important to understand that risk is the part of any person’s life. So, Life Insurance is a tool which safeguards an individual’s life with benefits. There are many life insurance companies in India, but LIC plays a major role in this field.
Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument.
There are mainly two parties involved in this- the insurer and the insured. The insurer is the insurance company who will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc.
The story of insurance is probably as old as the story of the mankind. The same instinct that prompts modern businessman today to secure themselves against loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era-past few centuries-yet its beginnings date back almost 6000 years.
Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first Life Insurance Company on Indian soil. All the insurance companies established during that period were brought up with the purpose of looking after the needs of European community and Indian natives were not being insured by these companies. However, later with the efforts of eminent people like Babu Muttylal Seal, the foreign life insurance companies started insuring Indian lives. But Indian lives were being treated as sub standard lives and heavy extra premiums were being charged on them. Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the year 1870, and covered Indian lives at normal rates. Starting as Indian Enterprise with highly patriotic motives, insurance companies came into existence to carry the message of insurance and social security through insurance to various sectors of society.
Source: apjor.com/files/1421259088.docx
Question 5
A) The site was chosen on account of its “natural beauty”, he said, “but for decades it had been degraded, excessively mined for sand, and had waste from Irma dumped on it”.
B) From the air, the peninsula of Palmetto Point – fringed by aquamarine water and pink-hued sand – looks like a developer’s dream.
C) Three years after Barbuda was devastated by Hurricane Irma, the tiny Caribbean isle is the scene of a bitter dispute that has pitted islanders against foreign developers who plan to build a US $2bn luxury resort project.
D) To local residents it’s the scene of childhood memories and balmy afternoons spent picking seagrapes and ambling among the sand dunes – a landscape many fear could soon be lost to them forever.
E) While supporters see the development as a vital economic stimulus that has already created dozens of jobs for an island still recovering from the September 2017 hurricane, critics say it will encroach on a national park, damaging one of the world’s largest nesting sites for the magnificent frigate bird and endangered wildlife.
F) A group of investors, including John Paul Dejoria, the billionaire entrepreneur behind Paul Mitchell hair products, have been given a 99-year lease to create hundreds of deluxe private homes and a golf course for the scheme named Peace, Love and Happiness (PLH).
Which would be the THIRD statement of the rearranged paragraph?
Question 6
A) The site was chosen on account of its “natural beauty”, he said, “but for decades it had been degraded, excessively mined for sand, and had waste from Irma dumped on it”.
B) From the air, the peninsula of Palmetto Point – fringed by aquamarine water and pink-hued sand – looks like a developer’s dream.
C) Three years after Barbuda was devastated by Hurricane Irma, the tiny Caribbean isle is the scene of a bitter dispute that has pitted islanders against foreign developers who plan to build a US $2bn luxury resort project.
D) To local residents it’s the scene of childhood memories and balmy afternoons spent picking seagrapes and ambling among the sand dunes – a landscape many fear could soon be lost to them forever.
E) While supporters see the development as a vital economic stimulus that has already created dozens of jobs for an island still recovering from the September 2017 hurricane, critics say it will encroach on a national park, damaging one of the world’s largest nesting sites for the magnificent frigate bird and endangered wildlife.
F) A group of investors, including John Paul Dejoria, the billionaire entrepreneur behind Paul Mitchell hair products, have been given a 99-year lease to create hundreds of deluxe private homes and a golf course for the scheme named Peace, Love and Happiness (PLH).
Question 7
A) The site was chosen on account of its “natural beauty”, he said, “but for decades it had been degraded, excessively mined for sand, and had waste from Irma dumped on it”.
B) From the air, the peninsula of Palmetto Point – fringed by aquamarine water and pink-hued sand – looks like a developer’s dream.
C) Three years after Barbuda was devastated by Hurricane Irma, the tiny Caribbean isle is the scene of a bitter dispute that has pitted islanders against foreign developers who plan to build a US $2bn luxury resort project.
D) To local residents it’s the scene of childhood memories and balmy afternoons spent picking seagrapes and ambling among the sand dunes – a landscape many fear could soon be lost to them forever.
E) While supporters see the development as a vital economic stimulus that has already created dozens of jobs for an island still recovering from the September 2017 hurricane, critics say it will encroach on a national park, damaging one of the world’s largest nesting sites for the magnificent frigate bird and endangered wildlife.
F) A group of investors, including John Paul Dejoria, the billionaire entrepreneur behind Paul Mitchell hair products, have been given a 99-year lease to create hundreds of deluxe private homes and a golf course for the scheme named Peace, Love and Happiness (PLH).
Question 8
A) The site was chosen on account of its “natural beauty”, he said, “but for decades it had been degraded, excessively mined for sand, and had waste from Irma dumped on it”.
B) From the air, the peninsula of Palmetto Point – fringed by aquamarine water and pink-hued sand – looks like a developer’s dream.
C) Three years after Barbuda was devastated by Hurricane Irma, the tiny Caribbean isle is the scene of a bitter dispute that has pitted islanders against foreign developers who plan to build a US $2bn luxury resort project.
D) To local residents it’s the scene of childhood memories and balmy afternoons spent picking seagrapes and ambling among the sand dunes – a landscape many fear could soon be lost to them forever.
E) While supporters see the development as a vital economic stimulus that has already created dozens of jobs for an island still recovering from the September 2017 hurricane, critics say it will encroach on a national park, damaging one of the world’s largest nesting sites for the magnificent frigate bird and endangered wildlife.
F) A group of investors, including John Paul Dejoria, the billionaire entrepreneur behind Paul Mitchell hair products, have been given a 99-year lease to create hundreds of deluxe private homes and a golf course for the scheme named Peace, Love and Happiness (PLH).
Question 9
A) The site was chosen on account of its “natural beauty”, he said, “but for decades it had been degraded, excessively mined for sand, and had waste from Irma dumped on it”.
B) From the air, the peninsula of Palmetto Point – fringed by aquamarine water and pink-hued sand – looks like a developer’s dream.
C) Three years after Barbuda was devastated by Hurricane Irma, the tiny Caribbean isle is the scene of a bitter dispute that has pitted islanders against foreign developers who plan to build a US $2bn luxury resort project.
D) To local residents it’s the scene of childhood memories and balmy afternoons spent picking seagrapes and ambling among the sand dunes – a landscape many fear could soon be lost to them forever.
E) While supporters see the development as a vital economic stimulus that has already created dozens of jobs for an island still recovering from the September 2017 hurricane, critics say it will encroach on a national park, damaging one of the world’s largest nesting sites for the magnificent frigate bird and endangered wildlife.
F) A group of investors, including John Paul Dejoria, the billionaire entrepreneur behind Paul Mitchell hair products, have been given a 99-year lease to create hundreds of deluxe private homes and a golf course for the scheme named Peace, Love and Happiness (PLH).
Question 10
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