Introduction
What is an Insurance? According to the dictionary and different insurance policies, Insurance is defined as “an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.” Thus, Insurance is a means of protection from financial loss. Insurance in short is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The insurance provider is known as an insurer, insurance company, insurance carrier or underwriter. Insurance Awareness is an important section in several recruitment exams in India, primarily in the insurance sector.
Insurance Awareness Practice Set 8 includes Q & A related to the following topics: History of Insurance sectors in India, Insurance Organizations in India, Important Insurance Terms, Insurance Abbreviations & Insurance related information. Insurance Awareness Practice Set 8 is extremely important for aspirants of Insurance related recruitments such as UIIC, OICL, LIC, HFL, AAO, etc.
Quiz
1. Which is a fixed amount for a covered service in health sector ?
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A. Coinsurance
B. Deductible
C. Copay
D. Health Insurance
E. None of these
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A. Rupee
B. Dollar
C. Euro
D. Any currency
E. None of these
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A. Retention
B. Uninsurable risk
C. Insurable risk
D. Reinsure
E. None of these
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A. All of the below
B. Equity
C. Ratio
D. Percentage
E. None of these
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A. Capital
B. Currency
C. Customer
D. Claim
E. None of these
1. ________is a sum of money paid by an employer to an employee for services rendered in the company
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A. Pension
B. Gratuity
C. Salary
D. Premium
E. None of these
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A. Termination of an insurance policy due to the insured’s failure to pay the premium.
B. It is a policy that does not pay benefits to the beneficiary if the cause of death is an accident
C. It is a policy that pays benefits to the beneficiary if any emergency occur
D. It is a policy that pays benefits to the beneficiary if the cause of death is an accident
E. Both 1 and 2
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A. Every month
B. Every year
C. Every day
D. Every 6 months
E. None of these
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A. Life term policy
B. Life Insurance
C. Life Annuity
D. Term Insurance
E. None of these
-
A. Third Party Administrators
B. Third Power Administrators
C. The Party Accelerators
D. The Power Administrators
E. None of these
1. In 1818, India’s first insurance company Oriental Life Insurance Company has established in which city ?
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A. New Delhi
B. Mumbai
C. Kolkata
D. Pune
E. None of these
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A. 1910
B. 1932
C. 1920
D. 1912
E. None of these
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A. The Oriental Insurance Company
B. GIC Re
C. New India Assurance
D. Triton Insurance Company Ltd
E. None of these
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A. Unity-liked insurance plans
B. Unit-linked insurance policy
C. Unit-linked insurance plans
D. Universal-linked insurance plans
E. None of these
-
A. Health insurance policy
B. Money back policy
C. Term insurance policy
D. General insurance policy
E. None of these
Other Articles
Study Guide
| Competitive Exams - Study Guide | ||
|---|---|---|
| Category | ||
| Quantitative Aptitude | Reasoning Ability | General Awareness |
| Computer Awareness | English Knowledge | Banking Awareness |
| General Science | World of Words | Descriptive Test |
Exams
| Competitive Exams - College Entrance Exams | |||
|---|---|---|---|
| Category | Notification | ||
| Diploma | Goa Diploma | ||
Daily CA
Job-Alerts
SP Quiz
| Competitive Exams - Practice Sets | |
|---|---|
| Category | Quiz |
| Quant Aptitude | Speed and Time |
| Current Affairs | Current Affairs |
GK
| General Knowledge for Competitive Examinations | |
|---|---|
| Topic | Name of the Article |
| GK - World | Father of Various Fields |
| Different Countries Republic Days | |
| GK - India | Important Seaports |
| Indian Dams | |
| GK - Abbreviations | Indian Government Policies Abbreviations |
| Education Abbreviations | |
| GK - Banking & Insurance | Indian Banking Structure |
| Regional Rural Banks | |
| GK - Science & Technology | Ama Ghare LED Scheme |
| Indian Research Institutes | |