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Insurance Awareness Quiz 1 (60 MCQs)

Quiz Instructions

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1. What is the maximum claim amount for an Insurance Ombudsman complaint?
2. A clause that allows the transfer of rights under a policy from one person to another, usually by means of a written document is called .....
3. An individual receiving benefits under an annuity is called .....
4. The headquarters of New India Assurance is located in .....
5. The portion of an insurance premium that reflects the basic costs of loss, not including over-head or profit is called .....
6. Risks for which it is difficult for someone to get insurance is called .....
7. How many maximum children from a family are covered for the benefits under the Shiksha Sahyog Yojana launched by the LIC?
8. IFRS Stands for?
9. The main feature of the National Agricultural Insurance Scheme is to insure which of the following?
10. The Complaint to Insurance Ombudsman must be registered within ..... year(s)
11. "Zimmedari ka humsafar" is the tagline of which insurance company?
12. ..... is a fidelity bond that covers all employees of a given class and may also cover perils other than infidelity.
13. In which year IRDA was constituted?
14. Insurance service provided by various banks is commonly known as .....
15. Which of the following insurance is mainly used for leased cars?
16. ..... is a coverage for the policyholder's own property or person.
17. Insurance cover for bank deposits in our country is provided by
18. IDC stands for .....
19. Personal and business property coverage combining several types of property insurance in one policy is called .....
20. The amount of risk retained by an insurance company that is not reinsured is termed as .....
21. Headquarter of General Insurance's Public Sector Association of India is situated?
22. Which of the following insurance companies writes its punch line in the advertisements "Insurance is the subject matter of solicitation" ?
23. The headquarters of Oriental Insurance Company is located in .....
24. Which of the following is an optional feature that can be added to a policy?
25. Which bank is the sponsor of Prathama Gramin Bank?
26. An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called .....
27. The person in whose name the insurance policy is made is referred to as
28. Percentage of each premium rupee a property/casualty insurer spends on claims and expenses is called .....
29. Which one of the following does not belong to regulatory bodies in India?
30. If you might want to discontinue the policy, and take whatever money is due to you. The amount the insurance company then pays is known as .....
31. Which of the following types of companies/organisations issue ULIP?
32. A contract, such as an insurance contract, requiring that certain acts be performed if recovery is to be made is known as .....
33. A person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held is called .....
34. With which of the following did the State Bank of India enter into a joint venture agreement for undertaking Life insurance business?
35. Which one of the following does not belong to the major general insurance private sector companies in India?
36. An insurance company not licensed to do business within a given state is called .....
37. A seller's market in which insurance is expensive and in short supply is termed as .....
38. The amount which is payable by you during the premium paying term at regular intervals for a limited period as specified in the plan schedule is called.....
39. If the insurance policy is taken from more the one underwriter where period of insurance, subject matter of insurance and sum insured are same is termed as .....
40. The payment of sum assured to the insured person which has become due by instalments under a money back policy is known as .....
41. A term policy that can be converted to permanent coverage rather than expiring on a specific date is called .....
42. When was the General Insurance Council formed?
43. ..... is the total benefit an insured person will receive at the time of claim.
44. Which of the following is/are the various types of insurance?
45. Peril specifically mentioned as covered in an insurance policy is called .....
46. Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires is termed as .....
47. The headquarters of LIC is located in .....
48. Event covered under insured's policy agreement is called .....
49. Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency is termed as .....
50. Which of the following Insurance Companies was launched with NABARD as one of its promoter's with 30 % stake in it?
51. ..... is the insurance of human life values against the risks of death, injury, illness or against expenses incidental to the latter.
52. Term insurance that covers a specific period of time and which cannot be renewed is called .....
53. A policy purchased by, for the benefit of, a business insuring the life or lives of personnel integral to the business operations is called .....
54. Which of the following is the first life insurance company in India?
55. The headquarters of United India Insurance Ltd is located in .....
56. A policy that can be cancelled or have the premiums raised by the insurer on a specific anniversary date, subject to certain reasons written into the policy is known as .....
57. Where is the head office of Insurance Regulatory Development Authority?
58. A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as .....
59. "A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against" is technically known as
60. Expand the term FSDC which is used in financial sectors?
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