Questions

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1 Which of the following types of companies/organisations issue ULIP?
A Insurance companies
B Banks
C NABARD
D RBI

View Answer

Answer: Insurance companies

2 Which of the following is the only public sector company in the field of life
insurance?
A General insurance company
B New India assurance company
C Oriental insurance company
D Life Insurance Corporation of India

View Answer

Answer: Life Insurance Corporation of India

3 Which of the following is the regulator of insurance sector in India?
A RBI
B AMFI
C IRDA
D SEBI

View Answer

Answer: IRDA
4 Which of the following terms is NOT related to the insurance sector?
A Indemnity
B Coverage
C Misuse Alert
D Annuity

View Answer

Answer: Misuse Alert

5 Which of the following insurance companies gives the slogan Prithvi, Agni, Jal,
Akash - Sab ki Surakhsa Hamare Paas?
A LifeInsurance Corporation
B Oriental Insurance Company
C New India Assurance
D General Insurance Company

View Answer

Answer: Oriental Insurance Company

6 With which of the fields is actuarial science associated?
A Insurance
B Banking
C Micro-finance
D Space technology
View Answer

Answer: Insurance
7 What does the term FSDC, used in financial sectors stand for?
A Financial Security and Development Council
B Financial Stability and Development Council
C Fiscal Security and Development Convention
D Fiscal Stability and Development Council

View Answer

Answer: Financial Stability and Development Council

8 On which one of the following issues can SEBI penalize any company in India?
1. Violation of Banking Regulation Act 2. Violation of foreign portfolio investment
guidelines 3. For violation of Negotiable Instrument Act
A Only 1
B Only 2
C Only 3
D All the three

View Answer

Answer: Only 2
9 Expand the term CCEA as used in administrative circles
A Cabinet Committee on External Affairs
B Cabinet Committee on Economic Affairs
C Cabinet Council on External Affairs
D Cabinet Council on Economic Affairs

View Answer

Answer: Cabinet Committee on Economic Affairs

10 Foreign exchange reserves of India are kept in the custody of which of the
following?
A Reserve bank of India
B Allpublic sector banks
C Foreign banks in India
D Government treasury

View Answer

Answer: Reserve bank of India

11 Which of the following was the parent company of New India Assurance ?
A LIC
B GIC
C Oriental Insurance Co. Ltd.
D United India Insurance

View Answer

Answer: GIC
12 In
Insurance policies we always find a date which is “Date of Maturity”. What
does it mean?
A This is the date on which the policy was sold to the customer/person insured
B This is the date on which the policy holder will have to submit his/her claim
seeking the amount of the policy. Otherwise the company will not make any
payment to him/her
C This is the date on which the contract between the person and insurance
company will come to an end
D None of these

View Answer

Answer: This is the date on which the contract between the person and
insurance company will come to an end
13 Which of the following terms is Not used in the world of finance, banking and
insurance?
A Devaluation
B Amnesty
C Hardcurrency
D None of these

View Answer

Answer: Amnesty
14 The Non Government organizations(NGO) helps the insurance industry mainly
in
A Linking third party administrators
B Promotional activities
C Drafting new regulations
D Linking buyers and sellers

View Answer

Answer: Linking buyers and sellers

15 A missing person is considered to be dead after how many years of missing ?
A 3years
B 5years
C 15 years
D 7years

View Answer

Answer: 7years
16 WhichInsurance Company started its operation in the year in which India got
Independence?
A UIICL
B GIC
C LIC
D OICL

View Answer

Answer: OICL
17 The punch line of the advertisement of which of the following organization is
“Jindagi ke sath bhi Jindagi ke bad bhi” ?
A New India Assurance
B General Insurance Corporation
C ICICI Prudential
D Life Insurance Corporation Of India
View Answer

Answer: Life Insurance Corporation Of India

18 Ifan organization wishes to venture into Insurance Business it has to obtain a
licence first from which of the following ?
A Indian Banks Association (IBA)
B Security and Exchange Board of India (SEBI)
C Tariff Advisory Committee (TAC)
D Insurance Regulatory and Development Authority of India (IRDAI)

View Answer

Answer: Insurance Regulatory and Development Authority of India (IRDAI)

19 Which of the following was the parent company of New India Assurance ?
A LIC
B GIC
C Oriental Insurance Co. Ltd.
D United India Insurance
View Answer

Answer: GIC

20 The New India Assurance Company was established in 1919 by

A Dorab Tata
B G. D. Birla
C Jamunalal BajaJ
D Kamlapat Singhania

View Answer

Answer: Dorab Tata

21 Which of the following is largest Non Life Insurance Company in India ?

A ICICILombard General Insurance Company Ltd.
B United India Insurance Company Ltd.
C General Insurance Company Ltd.
D New India Assurance Company Ltd.
View Answer

Answer: New India Assurance Company Ltd.

22 Which amongst the following is not an insurance company functioning in
India?
A ICICIprudential
B ING Vysya
C National Securities Depository Limited
D New India Assurance company

View Answer

Answer: National Securities Depository Limited

23 "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
A Death coverage
B Life insurance
C Savings for future
D Provident fund

View Answer

Answer: Life insurance

24 With
which of the following did the State Bank of India enter into a joint venture
agreement for undertaking general insurance business?
A New India Assurance Ltd.
B Insurance Australia Group
C Lehman Brothers Holdings Inc.
D Allianz

View Answer

Answer: Insurance Australia Group

25 Which of the following public sector companies/organizations provides
insurance cover to exporters?
A ECGC
B NABARD
C SIDBI
D IRDA

View Answer

Answer: ECGC
26 The insurance companies collect a fixed amount from its customers at a fixed
interval of time. What is it called?
A Instalment
B Contribution
C Premium
D EMI

View Answer

Answer: Premium
27 Which of the following is/are the various types of insurance?
1. Life insurance

2. Health insurance

3. Liability insurance

A Only (a)
B Only (a) and (b)
C Only (b) and (c)
D All the three

View Answer

Answer: All the three

28 Which of the following terms is used in the field of finance and banking?
A Elasticity
B Inflation
C Pulse rate
D All the three

View Answer

Answer: Inflation
29 Expand the term IFRS.
A Indian Financial Reporting Standards
B Indian Financial Reporting Systems
C International Financial Reporting Standards
D International Financial Reporting Systems
View Answer

Answer: International Financial Reporting Standards

30 Under the ESOP, who of the following are offered shares in the company?
A Employees
B Existing
Shareholders
C Promoters
D NRIs

View Answer

Answer: Employees
31 Fiscal policy is concerned with which of the following?
A Export and import
B Public revenue and expenditure
C Issue of currency
D Population control

View Answer

Answer: Public revenue and expenditure

32 Which of the following is NOT a part of India’s money market?
A Billmarket
B Call money market
C Banks
D Indian Gold council

View Answer

Answer: Indian Gold council

33 Which of the following is the regulator of the credit rating agencies in India?
A RBI
B SBI
C SEBI
D None of these
View Answer

Answer: SEBI
34 FDI refers to
A Fixed Deposits in India
B Foreign Direct Investment
C Foreign Deposits in India
D Future Derivative Investment

View Answer

Answer: Foreign Direct Investment

35 Aviva plc is an multinational insurance company headquartered in –
A Munich
B Paris
C London
D Tokyo

View Answer

Answer: London
36 State financial Corporations give assistance mainly to develop which of the
following?
A Small and medium scale industries
B Agricultural sector
C Cotton industry
D Large scale industries

View Answer

Answer: Small and medium scale industries

37 Bondsissued by Indian entities outside India but denominated in Indian rupees
are known as –
A DesiBonds
B NRI Bonds
C Pravasi Bonds
D Masala Bonds

View Answer

Answer: Masala Bonds

38 Yogakshemam Vahamyaham is the tag line of –
A HDFC Life Insurance
B SBI Life Insurance
C Bharti AXA Life Insurance
D Life Insurance Corporation
View Answer

Answer: Life Insurance Corporation

39 Sar Utha ke Jiyo is the tag line of –
A HDFC Life Insurance
B Birla Sun Life Insurance
C Aviva Life Insurance
D Sahara India Life Insurance

View Answer

Answer: HDFC Life Insurance

40 AXA is an insurance company headquartered in –
A London
B Tokyo
C New York
D Paris

View Answer

Answer: Paris

43 When was the General Insurance Corporation of India incorporated?

A 1971
B 1972
C 1973
D 1975

View Answer

Answer: 1972
44 What does PAC stand for?
A Post-Authorized Cheque
B Pre-Authorized Cheque
C Pre-Authorized Chequing
D Pre-Authorized Checking

View Answer
Answer: Pre-Authorized Chequing
45 What is the expanded form of the term ALM?
A Asset Liability Maintenance
B Asset Liability Management
C Asset Liability Manipulation
D Asset Liability Maximisation

View Answer

Answer: Asset Liability Management

46 Which of the following types of companies/organisations issue ULIP?
A Insurance companies
B Banks
C NABARD
D RBI

View Answer

Answer: Insurance companies

47 Which of the following is the only public sector company in the field of life
insurance?
A General insurance company
B New India assurance company
C Oriental insurance company
D Life Insurance Corporation of India

View Answer

Answer: Life Insurance Corporation of India

48 Which of the following terms is NOT related to the insurance sector?
A Indemnity
B Coverage
C Misuse Alert
D Annuity

View Answer

Answer: Misuse Alert

49 Which of the following is/are the various types of insurance? a) Life insurance
b) Health insurance c) Liability insurance
A Only (a)
B Only (a) and (b)
C Only (b) and (c)
D All the three

View Answer

Answer: All the three

50 The central office of the Life Insurance Corporation of India (LIC) is located at
A Kolkata
B New Delhi
C Chennai
D Mumbai

View Answer

Answer: Mumbai
51 Which of the following is largest Non Life Insurance Company in India ?
A ICICILombard General Insurance Company Ltd.
B United India Insurance Company Ltd.
C General Insurance Company Ltd.
D New India Assurance Company Ltd.

View Answer

Answer: New India Assurance Company Ltd.

52 Aswe know, the Government is paying much attention to “Micro Finance”
these days. Which of the following is one of the examples of Micro Finance?
A Insurance for life
B Investment in Mutual Funds
C Self Help Groups
D Letter of Credit

View Answer

Answer: Self Help Groups

53 Insurance company transfers the insurance which cannot bear by them to
which of the following ?
A TPAs
B Bancassurance
C Reinsurance
D Actuaries

View Answer

Answer: Reinsurance
54 Which of the following is customer of a Reinsurer?
A Insurance Companies
B High Networth Individual
C Licenced Insurance Agents
D NGOs

View Answer

Answer: Insurance Companies

55 What
is the maximum Time in which the insurer should settle a claim when all
documents are submitted
A 5days
B 20 days
C 30 days
D 15 days

View Answer

Answer: 30 days
56 A insurer advertises through daily news paper . What type of marketing is
A cross selling
B policy selling
C Solicitation of Policy
D Insurance selling

View Answer

Answer: Solicitation of Policy

57 MWP- If the policy is endorsed under MWP – then the beneficiaries are wife
and ?
A ex-wife
B children
C mother
D parents

View Answer
Answer: children
58 A insurer advertises through daily newspaper . What type of marketing is
A cross selling
B policy selling
C Solicitation of Policy
D Insurance selling

View Answer

Answer: cross selling

59 General Insurance (Public Sector) Association of India’s HQ is situtated in?
A Telengana
B Mumbai
C Delhi
D Chennai

View Answer

Answer: Delhi
60 India’s Agricultural Insurer is:
A NABARD
B GIC
C KIshan Bima Sanstha
D AIC

View Answer

Answer: KIshan Bima Sanstha

61 Which of the following insurance companies gives the slogan Prithvi, Agni, Jal,
Akash - Sab ki Surakhsa Hamare Paas?
A Life
Insurance Corporation
B OrientalInsurance Company
C New India Assurance
D General Insurance Company

View Answer

Answer: Oriental Insurance Company

62 Which of the following words/ terms is closely associated with the insurance
business
A Archives
B Donation
C Actuary
D Quest

View Answer

Answer: Actuary
63 Which is a fixed amount for a covered service in the health sector?
A Coinsurance
B Deductible
C Copay
D Health Insurance
View Answer

Answer: Copay
64 A deductible is usually mentioned in
A Rupee
B Dollar
C Euro
D Pound

View Answer

Answer: Dollar
65 In
pursuance of which one of the following was the General Insurance
Corporation of India was formed?
A General Insurance Business (Nationalization) Act, 1972
B Insurance Act, 1938
C Insurance Amendment Act, 2002
D None of these

View Answer

Answer: General Insurance Business (Nationalization) Act, 1972

66 Which amongst the following is not an insurance company functioning in
India?
A ICICI prudential
B INGVysya
C NationalSecurities Depository Limited
D New India Assurance company

View Answer

Answer: National Securities Depository Limited

67 “Acontract 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
A Death coverage
B Life insurance
C Savings for future
D Provident fund

View Answer

Answer: Life insurance

68 With
which of the following did the State Bank of India enter into a joint venture
agreement for undertaking general insurance business?
A New India Assurance Ltd.
B Insurance Australia Group
C Lehman Brothers Holdings Inc.
D Allianz

View Answer

Answer: Insurance Australia Group

69 Which of the following is the regulator of insurance sector in India?
A RBI
B AMFI
C IRDA
D SEBI

View Answer

Answer: IRDA
70 The New India Assurance Company was established in 1919 by
A Dorab Tata
B G.D. Birla
C Jamunalal BajaJ
D Kamlapat Singhania
View Answer

Answer: Dorab Tata