Banking General Awareness Insurance Question Bank

done Insurance Total Questions - 68

• question_answer1)
  The central office of the Life Insurance Corporation of India (LIC) is located at
  A)
   Kolkata             done clear
  B)
   New Delhi done clear
  C)
   Chennai            done clear
  D)
   Pune done clear
  E)
   Mumbai done clear
  View Solution play_arrow

• question_answer2)
  The Life Insurance Corporation of India has how many Zonal offices in India?
  A)
   Five                             done clear
  B)
   Eight done clear
  C)
   Ten                  done clear
  D)
   Fifteen done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer3)
  The punch line of the advertisement of which of the following organisation is "Jindagi ke sath bhi Jindagi ke bad bhi"?
  A)
   New India Assurance done clear
  B)
   General Insurance Corporation done clear
  C)
   ICICI Prudential done clear
  D)
   Life Insurance Corporation of India done clear
  E)
   None of the above done clear
  View Solution play_arrow

• question_answer4)
  What is the full form of 'ULIP', the term which was in the news recently?
  A)
   Universal Life and Investment Plan done clear
  B)
   Unit Loan and Insurance Plan done clear
  C)
   Universal Loan and Investment Plan done clear
  D)
   Uniformly Loaded Investment Plan done clear
  E)
   Unit Linked Insurance Plan done clear
  View Solution play_arrow

• question_answer5)
  'Equity schemes managed strong NAV gains which boost their assets' was a news in some financial newspapers. What is the full form of NAV used as in above headlines?
  A)
   Nill Accounting Variation done clear
  B)
   Net Accounting Venture done clear
  C)
   Net Asset Value done clear
  D)
   New Asset Venture done clear
  E)
   None of the above done clear
  View Solution play_arrow

• question_answer6)
  Which of the following insurance plan is not launched by LIC?
  A)
   Jeevan Abhaya done clear
  B)
   Life Mahalife Gold Plan done clear
  C)
   Child Career Plan done clear
  D)
   Child Future Plan done clear
  E)
   Jeevan Saral done clear
  View Solution play_arrow

• question_answer7)
  Which of the following terms is not used in the world of finance, banking and insurance?
  A)
   Devaluation      done clear
  B)
   Amnesty done clear
  C)
   Hard currency               done clear
  D)
   Preference share done clear
  E)
   Sinking fund done clear
  View Solution play_arrow

• question_answer8)
  Which of the following types of companies/organisations issue ULIP?
  A)
   Insurance companies done clear
  B)
   Stock brokers      done clear
  C)
   Banks done clear
  D)
   NABARD         done clear
  E)
   RBI done clear
  View Solution play_arrow

• question_answer9)
  Which of the following is the only public sector company in the field of life insurance?
  A)
   General insurance company done clear
  B)
   New India assurance company done clear
  C)
   Oriental insurance company done clear
  D)
   SBI Life Insurance Company done clear
  E)
   Life Insurance Corporation of India done clear
  View Solution play_arrow

• question_answer10)
  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. done clear
  B)
   Insurance Australia Group done clear
  C)
   Lehman Brothers Holdings Inc. done clear
  D)
   Allianz done clear
  E)
   BNP Paribas Card if. done clear
  View Solution play_arrow

• question_answer11)
  Which of the following insurance companies gives the slogan Prithvi, Agni, Jal, Akash Sabki Suraksha Hamare Paas?
  A)
   Life Insurance Corporation done clear
  B)
   Oriental Insurance Company done clear
  C)
   New India Assurance done clear
  D)
   General Insurance Company done clear
  E)
   SBI Life Insurance done clear
  View Solution play_arrow

• question_answer12)
  Choose the correct statement regarding ULIP.
  A)
   Offers tax benefits done clear
  B)
   Easy exit possible done clear
  C)
   Tax benefit available only on tax saving funds done clear
  D)
   Investment tool suitable for short to medium term done clear
  E)
   b and c done clear
  View Solution play_arrow

• question_answer13)
  What is the minimum paid up capital required for a General Insurance Company to commence its operations in India?
  A)
   100 crore    done clear
  B)
   200 crore done clear
  C)
   250 crore                      done clear
  D)
   300 crore done clear
  E)
   500 crore done clear
  View Solution play_arrow

• question_answer14)
  Which is the sole reinsurance company in the Indian insurance market?
  A)
   United India Insurance Company Limited done clear
  B)
   General Insurance Corporation of India done clear
  C)
   New India Assurance Company Limited done clear
  D)
   The Oriental Insurance Company done clear
  E)
   Life Insurance Corporation of India done clear
  View Solution play_arrow

• question_answer15)
  Insurance service provided by various banks is commonly known as
  A)
   Investment Banking done clear
  B)
   Portfolio Management done clear
  C)
   Merchant Banking done clear
  D)
   Banc assurance done clear
  E)
   Banking insurance done clear
  View Solution play_arrow

• question_answer16)
  ECGC is related to
  A)
   Export promotion done clear
  B)
   Export financing and insurance done clear
  C)
   Export quality certification done clear
  D)
   Export statistics publication done clear
  E)
   Export company done clear
  View Solution play_arrow

• question_answer17)
  Which of the following is not in the State list under the Constitution of India?
  A)
   Insurance                      done clear
  B)
   Fisheries done clear
  C)
   Agriculture        done clear
  D)
   Gambling done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer18)
  Government has issued an ordinance announcing LJLIP as 'Insurance Product'. Who is now the regulator of ULIPs?
  A)
   SEBI                            done clear
  B)
   IRDAI done clear
  C)
   RBI                              done clear
  D)
   Both a and b done clear
  E)
   Government of India done clear
  View Solution play_arrow

• question_answer19)
  Under whose chairmanship was the committee on Insurance Sector reforms set up?
  A)
   Narasimham                 done clear
  B)
   C Rangarajan done clear
  C)
   R N Malhotra                done clear
  D)
   None of these done clear
  E)
   All of these done clear
  View Solution play_arrow

• question_answer20)
  Which first bank in India to fully own an insurance business?
  A)
   HDFC Bank                  done clear
  B)
   Kotak Mahindra Bank done clear
  C)
   ICICI Bank        done clear
  D)
   IDBI Bank done clear
  E)
   SBI done clear
  View Solution play_arrow

• question_answer21)
  What are the main functions performed by the IRDAI?
  A)
   Protect the rights or policy holders done clear
  B)
   Adjudication on insurance related matters done clear
  C)
   Promoting insurance business done clear
  D)
   Regulating investment of funds by insurance companies done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer22)
  Which one of the following is the example of Insurance depositories?
  A)
   Central Insurance Repository Limited (CIRIL) done clear
  B)
   NSDL Database Management Limited done clear
  C)
   SHCIL Projects Limited done clear
  D)
   Karvy Insurance repository Limited done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer23)
  Which Insurance policy gives holder the benefits of both Insurance and Investment?
  A)
   Term Insurance Policies done clear
  B)
   Money back Policies done clear
  C)
   Unit Linked Investment Policies done clear
  D)
   Pension Policies done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer24)
  Up to what extent, FDI in insurance sector is allowed by the Government of India (Got)?
  A)
   26%                 done clear
  B)
   49%    done clear
  C)
   51%                 done clear
  D)
   79% done clear
  E)
   100% done clear
  View Solution play_arrow

• question_answer25)
  Insurance works on the principle of
  A)
   Sharing of losses            done clear
  B)
   Probabilities done clear
  C)
   Large numbers               done clear
  D)
   Randomness done clear
  E)
   All of these done clear
  View Solution play_arrow

• question_answer26)
  Insurance helps to
  A)
   Prevent adverse situations from occurring done clear
  B)
   Reduce the financial consequences of adverse situations done clear
  C)
   Negate all consequences of adverse situations done clear
  D)
   Make assets continuously productive done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer27)
  The main purpose of having Life insurance is
  A)
   As an avenue for long term investment done clear
  B)
   As a medium for getting income tax benefits from savings done clear
  C)
   As a governmental programme for reducing poverty done clear
  D)
   As an avenue for short term investment done clear
  E)
   None or the above done clear
  View Solution play_arrow

• question_answer28)
  Which of the following intermediaries do not require IRDM's licence/approval to operate in India?
  A)
   Insurance Brokers done clear
  B)
   Insurance Agents done clear
  C)
   Third Party Administrators done clear
  D)
   Surveyors done clear
  E)
   All of the above intermediaries require IRDAI's licence/approval done clear
  View Solution play_arrow

• question_answer29)
  According to the recently passed Insurance Laws (Amendment) Bill 2015, FDI in Insurance Sector was
  A)
   74%                 done clear
  B)
   26%    done clear
  C)
   49%                 done clear
  D)
   51% done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer30)
  Which of the following is largest Non-Life Insurance Company in India?
  A)
   ICICI Lombard General Insurance Company Ltd. done clear
  B)
   United India Insurance Company Ltd. done clear
  C)
   General Insurance Company Ltd. done clear
  D)
   New India Assurance Company Ltd. done clear
  E)
   None of the above done clear
  View Solution play_arrow

• question_answer31)
  Which of the following Insurance Companies was launched with NABARD as one of its promoter's with 30% stake in it?
  A)
   General Insurance Corporation Ltd. done clear
  B)
   National Insurance Company Ltd. done clear
  C)
   Agriculture Insurance Company Ltd. done clear
  D)
   SBI Life Insurance Company Ltd. done clear
  E)
   None of the above done clear
  View Solution play_arrow

• question_answer32)
  If an organisation wishes to venture into Insurance Business it has to obtain a licence first from which of the following?
  A)
   Indian Banks Association (IBA) done clear
  B)
   Security and Exchange Board of India (SEBI) done clear
  C)
   Tariff Advisory Committee (TAC) done clear
  D)
   Insurance Regulatory and Development Authority of India (IRDAI) done clear
  E)
   None of the above done clear
  View Solution play_arrow

• question_answer33)
  Which of the following was the parent company of New India Assurance?
  A)
   LIC                              done clear
  B)
   GIC done clear
  C)
   Oriental Insurance Co. Ltd. done clear
  D)
   United India Insurance done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer34)
  The New India Assurance Company was established in 1919 by
  A)
   Dorab Tata done clear
  B)
   G D Biria done clear
  C)
   Jamunalal Bajaj done clear
  D)
   Kamlapat Singhania done clear
  E)
   None of the above done clear
  View Solution play_arrow

• question_answer35)
  CSDL commenced its operations during February, 1999. What is CSDL?
  A)
   Central Depository Services Limited done clear
  B)
   Central Depository Securities Limited done clear
  C)
   Central Dual Securities Limited done clear
  D)
   Close-ended Depository Securities Limited done clear
  E)
   Capital Depository Securities Limited done clear
  View Solution play_arrow

• question_answer36)
  NSDL is promoted by
  A)
   IDBI                             done clear
  B)
   UTI done clear
  C)
   NSE                             done clear
  D)
   All of these done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer37)
  Dematerialisation is the process by which a client can get physical certificates converted into
  A)
   balances                       done clear
  B)
   electronic balances done clear
  C)
   cash balances                done clear
  D)
   audit balances done clear
  E)
   draft done clear
  View Solution play_arrow

• question_answer38)
  NSDL was registered by the
  A)
   SEBI                            done clear
  B)
   RBI done clear
  C)
   IRDAI               done clear
  D)
   SBI done clear
  E)
   GoI done clear
  View Solution play_arrow

• question_answer39)
  India's first depository to facilitate trading and settlement of securities in the demat form
  A)
   CSDL                           done clear
  B)
   NSDL done clear
  C)
   RSDL                           done clear
  D)
   SSDL done clear
  E)
   USDL done clear
  View Solution play_arrow

• question_answer40)
  Which of the following invest on behalf of the investors?
  A)
   Mutual Fund done clear
  B)
   Depository system done clear
  C)
   IRDAI               done clear
  D)
   Banc assurance done clear
  E)
   SEBI done clear
  View Solution play_arrow

• question_answer41)
  The Malhotra Committee was setup with the objective of complementing the reforms initiated in the
  A)
   Banking Sector              done clear
  B)
   Financial Sector done clear
  C)
   Private Sector                done clear
  D)
   Public Sector done clear
  E)
   Primary Sector done clear
  View Solution play_arrow

• question_answer42)
  As per the Government of India Notification doted 3rd Aug, 2000 specifying 'Insurance' as a permissible form of business that could be undertaken by
  A)
   Financial Institute           done clear
  B)
   10 done clear
  C)
   Bank                            done clear
  D)
   Stock market done clear
  E)
   bond market done clear
  View Solution play_arrow

• question_answer43)
   ........ offers another area of profitability to banks with little or no capital outlay.
  A)
   Banc assurance             done clear
  B)
   Bank once done clear
  C)
   ULIP insurance              done clear
  D)
   Insurance done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer44)
  ........... is the sole national reinsurer.
  A)
   GIC                 done clear
  B)
   LIC     done clear
  C)
   UIC                              done clear
  D)
   NIC done clear
  E)
   RIC done clear
  View Solution play_arrow

• question_answer45)
  Which of the following is one of the General Insurance Companies?
  A)
   Indian Agriculture Insurance Company done clear
  B)
   Aviva India done clear
  C)
   Exide life Insurance done clear
  D)
   ICICI Prudential Life Insurance done clear
  E)
   SBI Life Insurance Company done clear
  View Solution play_arrow

• question_answer46)
  Specialised General Insurance companies
  A)
   Cigma TITK                  done clear
  B)
   TFFCO Tokio done clear
  C)
   Max Bupa done clear
  D)
   General Insurance Corporation of India done clear
  E)
   TATA AIG General done clear
  View Solution play_arrow

• question_answer47)
  Mutual funds can be considered as
  A)
   financial insurance done clear
  B)
   financial intermediaries done clear
  C)
   cheque done clear
  D)
   draft done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer48)
  Headquarters of United India Insurance Company
  A)
   Kolkata             done clear
  B)
   Mumbai done clear
  C)
   New Delhi        done clear
  D)
   Chennai done clear
  E)
   Patna done clear
  View Solution play_arrow

• question_answer49)
  Which one is nationalised insurance company?
  A)
   SBI General Insurance Company Ltd. done clear
  B)
   Religare Health Insurance Company done clear
  C)
   New India Assurance Co. Ltd. done clear
  D)
   Reliance General Insurance Co. Ltd. done clear
  E)
   IFFCO-Tokio insurance Co. Ltd- done clear
  View Solution play_arrow

• question_answer50)
  Unit capital of open ended funds can fluctuate on
  A)
   monthly basis                done clear
  B)
   Yearly basis done clear
  C)
   daily basis   done clear
  D)
   quarterly basis done clear
  E)
   half yearly basis done clear
  View Solution play_arrow

• question_answer51)
  In case of close-ended scheme; new investors can buy the units only from
  A)
   Primary market  done clear
  B)
   Secondary market done clear
  C)
   bond market                  done clear
  D)
   Shares market done clear
  E)
   Financial market done clear
  View Solution play_arrow

• question_answer52)
  Presently, there are........... depositories working in India.
  A)
   2                    done clear
  B)
   4 done clear
  C)
   6                    done clear
  D)
   8 done clear
  E)
   10 done clear
  View Solution play_arrow

• question_answer53)
  The first Indian mutual fund was setup in
  A)
   1950                done clear
  B)
   1953 done clear
  C)
   1963           done clear
  D)
   1983 done clear
  E)
   1993 done clear
  View Solution play_arrow

• question_answer54)
  ULIP policy holders can make use of features such as

  I. reduce or increase the level of protection

  II. options to surrender

  III. additional riders to enhance coverage and returns as well as tax benefits

  Which is/are correct?
  A)
   Only II            done clear
  B)
   I and II done clear
  C)
   I, II and III                    done clear
  D)
   II and III done clear
  E)
   I and III done clear
  View Solution play_arrow

• question_answer55)
  Main point of Insurance Law (Amendment) Bill, 2015

  I. FDI in the insurance sector has been raised from 26% to 49%

  II. Insurance company restricted after the three years of sale insurance policy

  III. Provision of 10 yr imprisonment for the sale of insurance policy without registration with regulatory

  Which is/are correct?
  A)
   Only I             done clear
  B)
          I and II done clear
  C)
   II and III                       done clear
  D)
   I, II and III done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer56)
  Choose the correct statements regarding IRDAL

  I. The IRDA has changed its name to IRDAI on 26th Dec, 2014.

  II. IRDAI was established in the year 2004.

  III. The organization was setup under the guidelines of IRDA Act, 2004.

  Codes
  A)
   Only I          done clear
  B)
   I and II done clear
  C)
   I and HI           done clear
  D)
   II and III done clear
  E)
   I, II and III done clear
  View Solution play_arrow

• question_answer57)
  Choose the correct statement regarding LIC

  I. LIC was established on 1st Sep, 1990.

  II. It has head office at New Delhi.

  III. In 2008, its wholly owned subsidiary was opened in Singapore.

  Codes
  A)
   Only I             done clear
  B)
   I and II done clear
  C)
   II and III                       done clear
  D)
   I and III done clear
  E)
   I, II and III done clear
  View Solution play_arrow

• question_answer58)
  LIC is operating internationally through branch offices in

  I. Fiji

  II. Mauritius

  III. UK

  IV. Japan

  Which is/are correct?
  A)
   I and II                         done clear
  B)
   III and I done clear
  C)
   I, II and III                    done clear
  D)
   I, II, III and IV done clear
  E)
   I, III and IV done clear
  View Solution play_arrow

• question_answer59)
  CSDL was promoted by stock exchange Mumbai in association with

  I. Bank of Baroda

  II. Bank of India

  III. SBI

  IV. HDFC Bank

  Codes
  A)
   I, II and III                    done clear
  B)
   II, III and IV done clear
  C)
   I, II, III and IV               done clear
  D)
   I and IV done clear
  E)
   I, II and IV done clear
  View Solution play_arrow

• question_answer60)
  Which of the following is/are the various types of insurance?

  (i) Life insurance

  (ii) Health insurance

  (iii) Liability insurance

  Codes
  A)
   Only I             done clear
  B)
   I and II done clear
  C)
   II and III                       done clear
  D)
   I and III done clear
  E)
   All the three done clear
  View Solution play_arrow

• question_answer61)
  All of the following is true regarding ULIPs except

  I. Unit Holders can choose between different kind of funds.

  II. Life insurers provide Guarantee for all unit values.

  III. Units may be purchased by payment of single premium or via regular premium payments.

  IV.ULIP policy structure is transparent with regards to insurance expenses components.

  Insurance business in India is regulated by -which of the following authorities?
  A)
   NFCG              done clear
  B)
   IRDAI done clear
  C)
   CII                               done clear
  D)
   FICCI done clear
  E)
   All of the above done clear
  View Solution play_arrow

• question_answer62)
  According to the Securities and Insurance Laws (Amendment) Bill 2010, who amongst the following will be the Vice Chairman of the Joint Commission to resolve differences amongst the financial regulators? [Allahabad Bank 2011]
  A)
   Finance Minister, Gol done clear
  B)
   Deputy Chairman, Planning Commission done clear
  C)
   Chairman, SEBI done clear
  D)
   Chairman, Central Vigilance Commission E done clear
  E)
   Governor, RBI done clear
  View Solution play_arrow

• question_answer63)
  The process by which a life insurance policyholder can transfer all rights, title and interest under a policy contract to a third person is known as                                                                                                        [SBI PC 2013]
  A)
   Assignment of the policy done clear
  B)
   Hypothecation of the policy done clear
  C)
   Reinvestment of the policy done clear
  D)
   Negotiation of the policy done clear
  E)
   Nomination of the policy done clear
  View Solution play_arrow

• question_answer64)
  Which of the following is a mode for creating charge on Life Insurance Policies?                      [SBI PO 2014]
  A)
   Pledge             done clear
  B)
   Lien done clear
  C)
   Assignment  done clear
  D)
   Hypothecation done clear
  E)
   Equitable Mortgage done clear
  View Solution play_arrow

• question_answer65)
  A 'cover note' is the first legal document that is issued in lieu of                                 [RBI Grade B 2015]
  A)
   an insurance policy done clear
  B)
   a corporate share certificate done clear
  C)
   home loan sanction done clear
  D)
   a bank fixed deposit done clear
  E)
   a mutual fund investment done clear
  View Solution play_arrow

• question_answer66)
  Bancassurance is a relationship between bank and............                                                   [SBI Clerk 2016]
  A)
   Education                     done clear
  B)
   Insurance Company done clear
  C)
   Employee                     done clear
  D)
   Customer done clear
  E)
   NABARD done clear
  View Solution play_arrow

• question_answer67)
  Which of the following company is the sale reinsurance company in India?                             [UBI PO 2016]
  A)
   Life Insurance Corporation of India done clear
  B)
   ICICI Prudential Life Insurance Company done clear
  C)
   National Insurance Company done clear
  D)
   New India Assurance Company done clear
  E)
   General Insurance Corporation done clear
  View Solution play_arrow

• question_answer68)
  Largest share in oriental insurance is of                                                                              [SBI Clerk 2016]
  A)
   SEBI                            done clear
  B)
   SBI done clear
  C)
   RBI                              done clear
  D)
   Union Government done clear
  E)
   IRDAI done clear
  View Solution play_arrow