Question

How is Group Insurance defined?

a.

An insurance plan that covers only individuals

b.

An insurance plan that covers a specific profession

c.

An insurance plan that covers a group of people, such as employees or members of societies

d.

An insurance plan that covers only the elderly

Posted under IC 89 Management Accounting

Answer: (c).An insurance plan that covers a group of people, such as employees or members of societies Explanation:Group insurance is an insurance plan that covers a group of people, such as members of societies, employees of an organization, or professionals in a common group.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How is Group Insurance defined?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What is the primary purpose of an endowment life insurance policy?

View solution

Q. What is the purpose of Whole Life insurance policies?

View solution

Q. What is the characteristic of Term Insurance plans?

View solution

Q. What is the definition of a venture capital undertaking?

View solution

Q. What is the definition of a venture capital fund?

View solution

Q. How can an AIF raise funds?

View solution

Q. What are some types or nature of AIFs?

View solution

Q. What is the definition of AIF (Alternative Investment Fund)?

View solution

Q. What types of ratios are used for evaluating the performance of mutual funds?

View solution

Q. What risk factor is associated with mutual funds and securities investments?

View solution

Q. What are some advantages of mutual funds?

View solution

Q. What is the requirement for the relationship between the fund sponsor, trustees, custodian, and Asset Management Company in a mutual fund?

View solution

Q. How have Indian mutual funds been organized?

View solution

Q. What risk factors are associated with mutual fund investments?

View solution

Q. What is the role of unit-holders in a mutual fund?

View solution

Q. What is the main purpose of a mutual fund?

View solution

Q. What distinguishes bank deposits from company deposits in terms of guarantees?

View solution

Q. Why is due diligence important for investors considering company fixed deposits?

View solution

Q. What is solvency, and how does it relate to the safety of fixed deposits?

View solution

Q. What is the significance of a company's strong financial strength and goodwill in the context of fixed deposits?

View solution
View All MCQs on IC 89 Management Accounting

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? 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!

Basic Chemical Engineering

Get a solid foundation in Chemical Engineering with our Basic Chemical Engineering...

Molecular Biology

Dive into the intricate world of molecular biology with our specialized category....

Foundation Engineering

Master the principles of Foundation Engineering with our specialized category....

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Environment Management

Master the art of Environment Management with our specialized category. Explore...

Dairy Engineering

Dive into the world of Dairy Engineering with our specialized category. Explore the...

Human and Cultural Diversity

Explore the rich tapestry of human societies with our Human and Cultural Diversity...

Drug and Pharmaceutical Biotechnology

Navigate the world of pharmaceuticals and biotechnology with our dedicated category....

Highway Engineering

Navigate the road to efficient transportation with our Highway Engineering category....