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Insurance Awareness Quiz 2 (30 MCQs)

Quiz Instructions

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1. With which of the following did the State Bank of India enter into a joint venture agreement for undertaking Life insurance business?
2. Which one of the following does not belong to the major general insurance private sector companies in India?
3. An insurance company not licensed to do business within a given state is called .....
4. A seller's market in which insurance is expensive and in short supply is termed as .....
5. The amount which is payable by you during the premium paying term at regular intervals for a limited period as specified in the plan schedule is called.....
6. If the insurance policy is taken from more the one underwriter where period of insurance, subject matter of insurance and sum insured are same is termed as .....
7. The payment of sum assured to the insured person which has become due by instalments under a money back policy is known as .....
8. A term policy that can be converted to permanent coverage rather than expiring on a specific date is called .....
9. When was the General Insurance Council formed?
10. ..... is the total benefit an insured person will receive at the time of claim.
11. Which of the following is/are the various types of insurance?
12. Peril specifically mentioned as covered in an insurance policy is called .....
13. Insurance premiums are payable in advance but the insurance company does not fully earn them until the policy period expires is termed as .....
14. The headquarters of LIC is located in .....
15. Event covered under insured's policy agreement is called .....
16. Commercial coverage against losses resulting from the failure of business debtors to pay their obligation to the insured, usually due to insolvency is termed as .....
17. Which of the following Insurance Companies was launched with NABARD as one of its promoter's with 30 % stake in it?
18. ..... is the insurance of human life values against the risks of death, injury, illness or against expenses incidental to the latter.
19. Term insurance that covers a specific period of time and which cannot be renewed is called .....
20. A policy purchased by, for the benefit of, a business insuring the life or lives of personnel integral to the business operations is called .....
21. Which of the following is the first life insurance company in India?
22. The headquarters of United India Insurance Ltd is located in .....
23. A policy that can be cancelled or have the premiums raised by the insurer on a specific anniversary date, subject to certain reasons written into the policy is known as .....
24. Where is the head office of Insurance Regulatory Development Authority?
25. A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as .....
26. "A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against" is technically known as
27. Expand the term FSDC which is used in financial sectors?
28. The process of determining the cost of an insurance policy based on the actual loss experience determined as an adjustment to the initial premium payment is termed as .....
29. Which of the following insurance plan is not launched by LIC?
30. When was the Indian Mercantile Insurance established?
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