Insurance Awareness mcq questions and answers for competitive exams

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Insurance Awareness mcq questions and answers for competitive exams UPSC SSC , SSC CGL, SSC CHSL, upsc Civils , Entrance exams Online test practice online free Quiz, mock practice online
61.
The headquarters of Oriental Insurance Company is located in

a
Pune
b
Mumbai
c
Hyderabad
d
New-Delhi

62.
The Payment to the policyholder at the end of the stipulated term of the policy is called

a
Sum Assured
b
Paid-up value
c
Maturity Claim
d
Surrender Value

63.
The payment of sum assured to the insured person which has become due by instalments under a money back policy is known as

a
Sum Assured
b
Paid-up value
c
Surrender Value
d
Survival Benefit

64.
In Insurance, The insured receives a contract, called the

a
Insurance policy
b
Insurance MOU
c
Insurance agreement
d
None of these

65.
Which of the following was the parent company of New India Assurance?

a
LIC
b
GIC
c
United India Insurance
d
Oriental Insurance Co. Ltd.

66.
Which of the following insurance is mainly used for leased cars?

a
Gap Insurance
b
Double Insurance
c
Industrial Insurance
d
Commercial Insurance

67.
is a coverage up to specific limits for the cost of ransom or extortion payments and related expenses

a
Gap Insurance
b
Inland Marine Insurance
c
Kidnap/Ransom Insurance
d
Internet Liability Insurance

68.
A policy purchased by, for the benefit of, a business insuring the life or lives of personnel integral to the business operations is called

a
Hospital Insurance
b
Multi-Peril Insurance
c
Key-Person Insurance
d
Renewable Term Insurance

69.
The central office of the Life Insurance Corporation of India (LIC) is located at -

a
Mumbai
b
Kolkata
c
Chennai
d
New Delhi

70.
The conversion of insurance companies from mutual companies owned by their policyholders into publicly traded stock companies is termed as

a
Fiduciary
b
Affinity sales
c
Annuitization
d
Demutualization

71.
Contingencies outlined in an insurance policy is called

a
Pure Risk
b
Provisions
c
Product Liability
d
Proximate Clause

72.
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
The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the 'payment due date'.
c
This is the date on which the contract between the person and insurance company will come to an end.
d
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.

73.
Expand the term FSDC which is used in financial sectors?

a
Fiscal Security and Development Council
b
Fiscal Stability and Development Council
c
Financial Security and Development Council
d
Financial Stability and Development Council

74.
The conversion of the account balance of a deferred annuity contract to income payments is termed as

a
Pure Risk
b
Annuitization
c
Affinity sales
d
Proximate Clause

75.
What is the maximum deposit amount insured by DICGC?

a
Rs.100000 per depositors per bank
b
Rs.200000 per deposit per bank
c
Rs.200000 per depositors across all banks
d
Rs.100000 per depositors across all banks

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