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Insurance Awareness Quiz 23

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Insurance Awareness Quiz 23

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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 the 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 Quiz 23 includes Questions and Answers 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 Quiz 23 is extremely important for aspirants of Insurance related recruitment's such as UIIC, OICL, LIC, HFL, AAO, etc.

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Q1. Recently news has it that UK's ______is in talks with the IRDA to open business (Insurance) in India:
    A. Royale B. Lloyd C. Caster D. None of These

Answer: Option B
Q2. The founder of Oriental Life Insurance Company was:
    A. Sumit Bhavsar B. Anita Bhavsar C. Maya Bhavsar D. None of These

Answer: Option B
Q3. In ______ GIB act (General Insurance Business) was passed by parliament:
    A. 1973 B. 1972 C. 1975 D. None of These

Answer: Option B
Q4. General Insurance Business (GIB) was nationalized in:
    A. 1973 B. 1975 C. 1972 D. None of These

Answer: Option A
Q5. At the time of nationalization of GIB, 107 insurers were amalgamated and grouped into which of the following companies:
    A. National Insurance Company Limited B. New India Assurance Company Limited C. United India Insurance Company Limited D. Oriental Insurance Company Limited E. All of Above F. None of These

Answer: Option A
Q1. In 1999 IRDA act was passed on the recommendation of _______committee:
    A. Kumarmangalam B. Malhotra C. Vijayanan D. None of These

Answer: Option B
Q2. Which of the following is a national repository:
    A. National Securities Depository Limited B. Central Insurance Repository Limited C. Stock Holding Corporation of India D. Karvy Insurance Repository Limited E. All of the Above F. None of These

Answer: Option E
Q3. The old name of LIC was:
    A. National Life Insurance Society B. Hindustan Insurance Society C. General Life Insurance Society of India D. None of These

Answer: Option B
Q4. Headquarter of GIC is located at:
    A. Chennai B. Delhi C. Mumbai D. None of These

Answer: Option C
Q5. GST stands for:
    A. General Sales Tax B. Goods and Sales Tax C. Goods and Services Tax D. None of These

Answer: Option C
Q1. IGIE stands for:
    A. International General Insurance Enactment B. Institute of Global Insurance Education C. Institute of General Insurance Education D. None of These

Answer: Option B
Q2. Chartered Member of IGIE is:
    A. Insurance Institute of India B. General Insurance Corporation C. Insurance Regulatory and Development Authority D. None of These

Answer: Option A
Q3. Agriculture Insurance Company of India was founded in:
    A. 2005 B. 2002 C. 2001 D. None of These

Answer: Option B
Q4. The slogan of Agriculture Insurance Company of India is:
    A. Beema, Jo Bachayega Apki Fashal aur Ghar B. Fasal Apki, Khyaal Hmara C. Sampann Bharat ki Pehchaan, Beemit Phasal Khushaal Kisan D. None of These

Answer: Option C
Q5. SSS stands for:
    A. Save Salary Scheme B. Salary Savings Scheme C. Sure Savings Scheme D. None of These

Answer: Option B

Insurance Awareness - Related Information
Insurance Awareness Practice Set 7
Insurance Awareness Practice Set 8
Insurance Awareness Practice Set 9
Book for Insurance Awareness
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