Question

How old is the present form of insurance?

a.

Thousands of years old

b.

Two or three centuries old

c.

Less than a century old

d.

It is a recent development

Answer: (b).Two or three centuries old Explanation:The present form of insurance is two or three centuries old.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How old is the present form of insurance?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. When did insurance first exist in some form?

Q. What concept did many civilizations practice in relation to insurance?

Q. What is the main reason behind the idea of insurance?

Q. Which traders paid extra money to their lenders to write off loans if shipments were lost or stolen?

Q. In which societies did Greeks and English people practice advance payment to take care of family members who died?

Q. What did traders of Rhodes do to share losses if any of them lost their goods due to jettison?

Q. Where did the origins of modern commercial insurance start?

Q. Which company is considered to be the first life insurance company in the world?

Q. When did modern insurance in India begin?

Q. Which was the first life insurance company to be set up in India?

Q. Which was the first Indian insurance company?

Q. Which is the oldest insurance company in India?

Q. When was the Insurance Act 1938 passed in India?

Q. When was the life insurance business nationalized in India?

Q. When was the non-life insurance business nationalized in India?

Q. Which committee recommended the opening of the insurance market for competition in India?

Q. When was the insurance market in India liberalized?

Q. What is the role of the Insurance Regulatory and Development Authority of India (IRDAI)?

Q. What is the maximum percentage of paid-up equity capital that foreign investors are now allowed to hold in an Indian insurance company?

Q. What type of insurance can foreign insurers now establish branches for in India?

Recommended Subjects

Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!