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Insurance Awareness Quiz 4 (60 MCQs)

Quiz Instructions

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1. Which of the following is the regulator of insurance sector in India?
2. A survey to determine a property's insurable value, or the amount of a loss is termed as .....
3. The headquarters of National Insurance Company Ltd (NIC) is located in
4. The government has allowed issue of Long-Term Bonds for Insurance Companies and others upto
5. A company owned by its policyholders that returns part of its profits to the policyholders as dividends is known as .....
6. ..... is a type of life insurance policy that provides coverage for a certain period of time, or a specified "term" of years
7. What is the Full form of GIVE?
8. The insurance companies collect a fixed amount from its customers at a fixed interval of time. What it is called?
9. Which bank recently became the first bank in India to fully own an insurance business?
10. National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year
11. What does the letter 'S' denote in the term IFSC?
12. Which section of the Indian Insurance Act 1938 provides for nomination of a person?
13. A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependants is called .....
14. Which of the following was the parent company of New India Assurance?
15. The one who will get the insured amount if you die, is referred to as
16. Portion of an auto insurance policy that protects a policyholder from uninsured and hit-and-run drivers is known as .....
17. Which of the following term is not used in insurance sector?
18. ..... is the amount of money an insurance policy guarantees to pay before any bonuses are added.
19. ..... is the amount you pay to the insurance company to buy a policy.
20. A policy that is made mandatory for the customer to buy is called .....
21. Which of the following insurance compensates for the cost of repairing or replacing defective products past the normal warranty period provided by manufacturers?
22. "THODA SIMPLE SOCHO" is the tagline of which insurance company?
23. ..... is a coverage for bodily injury or property damage caused by an intoxicated person who was served liquor by the policyholder.
24. ..... is the sole reinsurance company in the Indian Insurance market with over four decades of experience.
25. Risks that affect simultaneously a great number of policyholders is called .....
26. Which include claims that have been incurred but not reported?
27. Funds that a lender collects to pay monthly premiums in mortgage and home owners insurance, and sometimes to pay property taxes is called .....
28. According to the recently passed Insurance Laws (Amendment) Bill 2015, FDI in Insurance Sector is
29. National Insurance Academy located in .....
30. An organization such as a bank or insurance company that buys and sells large quantities of securities is called .....
31. "Rest Assured with Us" is the tagline of which insurance company?
32. Which of the following is not the name of an Insurance Scheme launched by the Government of India
33. The conversion of insurance companies from mutual companies owned by their policyholders into publicly traded stock companies is termed as .....
34. Who among the following can take Fire policy?
35. The punch line of the advertisement of which of the following organization is "Jindagi ke sath bhi Jindagi ke bad bhi" ?
36. Which term referring to property coverages for the perils of burglary, theft and robbery?
37. The portion of risk that a reinsurance company cedes or amount of insurance the company chooses not to retain is called .....
38. ..... is the insurance of commercial property that protects the property from such perils as fire, theft and natural disaster.
39. Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as .....
40. ..... is a form of non-proportional reinsurance.
41. Which is used to determine the actual cash value of property at time of loss?
42. ..... is the liability arising from contractual agreements in which it is stated that some losses, if they occur, are to be borne by specific parties.
43. The New India Assurance Company was established in 1919 by
44. A property or liability insurance contract in which all risks of loss are covered is called .....
45. Which of the following is largest Non Life Insurance Company in India?
46. A policy that cannot be cancelled by the insurer prior to a certain age is called .....
47. Percentage of each premium rupee that goes to insurers' expenses including overhead, marketing, and commissions is called.....
48. Which one of the following does not belong to the main products of life insurance?
49. The consequential property insurance that covers the extra expense incurred by the interruption of a business is called .....
50. An agreement between an insurance company and an agent, granting the agent authority to write insurance from that company is called .....
51. Contingencies outlined in an insurance policy is called .....
52. Legal responsibility of a fiduciary to safeguard assets of beneficiaries is termed as.....
53. Which of the following is not a public sector bank in India?
54. The result of the policyholder's failure to buy sufficient insurance is termed as .....
55. When was the General Insurance Corporation of India incorporated?
56. A whole life policy in which premiums are payable as long as the insured lives is called .....
57. When was Life Insurance sector nationalised?
58. Which principle specifies an insured should not collect more than the actual cash value of a loss?
59. A professional liability coverage for physicians, lawyers, and other specialists against suits alleging negligence or errors and omissions that have harmed clients is termed as .....
60. "Sampann Bharath ki pehchan,Beemith Phasal Khusal Kisan" is the tagline of which insurance company?
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