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Insurance Awareness Quiz 1 (30 MCQs)

Quiz Instructions

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1. What is the maximum claim amount for an Insurance Ombudsman complaint?
2. A clause that allows the transfer of rights under a policy from one person to another, usually by means of a written document is called .....
3. An individual receiving benefits under an annuity is called .....
4. The headquarters of New India Assurance is located in .....
5. The portion of an insurance premium that reflects the basic costs of loss, not including over-head or profit is called .....
6. Risks for which it is difficult for someone to get insurance is called .....
7. How many maximum children from a family are covered for the benefits under the Shiksha Sahyog Yojana launched by the LIC?
8. The main feature of the National Agricultural Insurance Scheme is to insure which of the following?
9. The Complaint to Insurance Ombudsman must be registered within ..... year(s)
10. "Zimmedari ka humsafar" is the tagline of which insurance company?
11. ..... is a fidelity bond that covers all employees of a given class and may also cover perils other than infidelity.
12. In which year IRDA was constituted?
13. Which of the following insurance is mainly used for leased cars?
14. ..... is a coverage for the policyholder's own property or person.
15. IDC stands for .....
16. Personal and business property coverage combining several types of property insurance in one policy is called .....
17. The amount of risk retained by an insurance company that is not reinsured is termed as .....
18. Headquarter of General Insurance's Public Sector Association of India is situated?
19. Which of the following insurance companies writes its punch line in the advertisements "Insurance is the subject matter of solicitation" ?
20. The headquarters of Oriental Insurance Company is located in .....
21. Which of the following is an optional feature that can be added to a policy?
22. Which bank is the sponsor of Prathama Gramin Bank?
23. An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called .....
24. The person in whose name the insurance policy is made is referred to as
25. Percentage of each premium rupee a property/casualty insurer spends on claims and expenses is called .....
26. Which one of the following does not belong to regulatory bodies in India?
27. If you might want to discontinue the policy, and take whatever money is due to you. The amount the insurance company then pays is known as .....
28. Which of the following types of companies/organisations issue ULIP?
29. A contract, such as an insurance contract, requiring that certain acts be performed if recovery is to be made is known as .....
30. A person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held is called .....
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