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Insurance Awareness Quiz 3 (60 MCQs)

Quiz Instructions

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1. A form of annuity that ends payments when the annuitant dies is termed as .....
2. Which of the following insurance companies gives the slogan Prithvi, Agni, Jal, Akash - Sab ki Surakhsa Hamare Paas?
3. A person who holds something in trust for another is known as.....
4. An amount of premium for which payment has been made by the policyholder but coverage has not yet been provided is known as .....
5. Once an insurance company has paid up to the limit, it will pay no more during that year is known as .....
6. Contract under which the ultimate liability of the reinsurer is capped and on which anticipated investment income is expressly acknowledged as an underwriting component is called .....
7. Circumstance including possibility of loss or no loss but no possibility of gain is termed as .....
8. Which of the following public sector companies/organizations provides insurance cover to exporters?
9. Which of the following is the only public sector company in the field of life insurance?
10. The headquarters of IRDAI is located in .....
11. A written form attached to an insurance policy that alters the policy's coverage, terms, or conditions is termed as .....
12. An individual who sells, services, or negotiates insurance policies either on behalf of a company or independently is called .....
13. The headquarters of Agriculture Insurance Company is located in .....
14. An auto-mobile insurance option, available in some states, that covers the difference between a car's actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or fin
15. A policy for which the premiums do not change for the entire duration of the policy.
16. ..... in insurance, is the splitting or spreading of risk among multiple parties.
17. The headquarters of Export Credit Guarantee Corporation of India is located in
18. .....are assumptions about rates of investment earnings, mortality, turnover and distribution or actual ages at which employees are likely to retire.
19. ..... is reinsurance for a single risk or a defined package of risks.
20. When was the Export Credit Guarantee Corporation of India established?
21. The central office of the Life Insurance Corporation of India (LIC) is located at
22. Who has allowed banks to tie up with insurers, to sell three products each from life, non-life and standalone health insurance segment?
23. ..... is a coverage that guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults.
24. What is the maximum deposit amount insured by DICGC?
25. A type of reinsurance in which the re-insurer indemnifies the ceding company for losses that exceed a specified limit is called .....
26. Insurance companies' ability to pay the claims of policyholders is termed as .....
27. ..... is the age at which the receipt of pension starts in an insurance-cum-pension plan.
28. The legal process by which an insurance company, after paying a loss, seeks to recover the amount of the loss from another party who is legally liable for it is termed as .....
29. When was the Insurance Regulatory and Development Authority constituted?
30. ..... plans provide for a "pension" or a mix of a lump sum amount and a pension to be paid to the policyholder or his spouse.
31. The party to whom the rights of the insured under a policy are transferred is known as .....
32. A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract is known as .....
33. ..... is a coverage for glass breakage caused by all risks.
34. A policy which has terminated and is no longer in force due to non-payment of the premium due is called .....
35. When was the Oriental Life Insurance Company established?
36. A risk transfer mechanism whereby one party assumes the liability of another party by contract is known as .....
37. A form of long-term care policy that covers a policyholder's stay in a nursing facility is called .....
38. If you stop paying the premium, but do not withdraw the money from your policy, then the policy is referred to as .....
39. Auto insurance coverage that pays for each driver's own injuries, regardless of who caused the accident is called .....
40. When did insurance begin in Babylon?
41. A period of up to one month during which the purchaser of an annuity can cancel the contract without penalty is known as .....
42. "With Us, You're Sure" is the tagline of which insurance company?
43. ..... is a coverage up to specific limits for the cost of ransom or extortion payments and related expenses
44. ..... is an actual ownership interest in a specific asset or group of assets.
45. .....is the period between the date of subscription to an insurance-cum-pension policy and the time at which the first instalment of pension is received.
46. ..... is a coverage for flood damage is available from the federal government under the National Flood Insurance Program but is sold by licensed insurance agents.
47. In Insurance, The insured receives a contract, called the.....
48. Which Insurance is a compulsory insurance plan administered by a government agency with the primary emphasis on social adequacy?
49. Coverage for bodily injury and property damage incurred through ownership or operation of a vehicle is called .....
50. Coverage against loss through stealing by individuals not in a position of trust is called .....
51. "You Focus on Exports. We recover the risks." is the tagline of which insurance company?
52. A Life insurance policy for which the cost is equally distributed over the term of the premium period, remaining constant throughout is called .....
53. A state tax on premiums paid by its residents and businesses and collected by insurers is called.....
54. A provision in an insurance policy that eliminates coverage for certain risks, people, property classes, or locations is called .....
55. The person who receives the proceeds or the benefits under the plan when the nominee is less than 18 years of age is called .....
56. ..... is a coverage for expenses incurred as the result of an identity theft.
57. "We know Healthcare" is the tagline of .....
58. The ratio of losses incurred to premiums earned; anticipated when rates are first formulated is termed as.....
59. ..... is an insurance purchased by a bank or creditor on an uninsured debtor's behalf so if the property is damaged, funding is available to repair it.
60. Which of the following Public Sector companies provides insurance cover to exporters?
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