Banking & Insurance – EMI, Annuity, Insurance Concepts (Applied Maths)

Grade 11 Maths — Banking & Insurance – EMI, Annuity, Insurance Concepts (Applied Maths): 25 practice questions with instant scoring and explanations.

1. EMI stands for:
2. EMI formula is:
3. In EMI, P represents:
4. In EMI, r represents:
5. In EMI, n represents:
6. An annuity is a series of:
7. Present Value of Annuity = :
8. Future Value of Annuity = :
9. Insurance is based on the principle of:
10. Premium is:
11. Sum Assured means:
12. Claim is:
13. Life Insurance primarily covers:
14. Health Insurance covers:
15. Deductible in insurance means:
16. Co-insurance means:
17. If loan amount is 5,00,000 at 6% p.a. for 5 years, approx EMI = :
18. Pension is a type of:
19. Maturity Benefit in insurance is:
20. Bonus in insurance is:
21. No Claim Bonus means:
22. Float in banking refers to:
23. Overdraft is:
24. Fixed Deposit interest is:
25. Recurring Deposit is meant for: