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Insurance Awareness Quiz 5 (30 MCQs)

Quiz Instructions

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1. Contract under which the ultimate liability of the reinsurer is capped and on which anticipated investment income is expressly acknowledged as an underwriting component is called .....
2. Circumstance including possibility of loss or no loss but no possibility of gain is termed as .....
3. Which of the following public sector companies/organizations provides insurance cover to exporters?
4. Which of the following is the only public sector company in the field of life insurance?
5. The headquarters of IRDAI is located in .....
6. A written form attached to an insurance policy that alters the policy's coverage, terms, or conditions is termed as .....
7. An individual who sells, services, or negotiates insurance policies either on behalf of a company or independently is called .....
8. The headquarters of Agriculture Insurance Company is located in .....
9. An auto-mobile insurance option, available in some states, that covers the difference between a car's actual cash value when it is stolen or wrecked and the amount the consumer owes the leasing or fin
10. A policy for which the premiums do not change for the entire duration of the policy.
11. ..... in insurance, is the splitting or spreading of risk among multiple parties.
12. The headquarters of Export Credit Guarantee Corporation of India is located in
13. .....are assumptions about rates of investment earnings, mortality, turnover and distribution or actual ages at which employees are likely to retire.
14. ..... is reinsurance for a single risk or a defined package of risks.
15. When was the Export Credit Guarantee Corporation of India established?
16. The central office of the Life Insurance Corporation of India (LIC) is located at
17. Who has allowed banks to tie up with insurers, to sell three products each from life, non-life and standalone health insurance segment?
18. ..... is a coverage that guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults.
19. What is the maximum deposit amount insured by DICGC?
20. A type of reinsurance in which the re-insurer indemnifies the ceding company for losses that exceed a specified limit is called .....
21. Insurance companies' ability to pay the claims of policyholders is termed as .....
22. ..... is the age at which the receipt of pension starts in an insurance-cum-pension plan.
23. The legal process by which an insurance company, after paying a loss, seeks to recover the amount of the loss from another party who is legally liable for it is termed as .....
24. When was the Insurance Regulatory and Development Authority constituted?
25. ..... plans provide for a "pension" or a mix of a lump sum amount and a pension to be paid to the policyholder or his spouse.
26. The party to whom the rights of the insured under a policy are transferred is known as .....
27. A form of annuity contract that gives purchasers the freedom to choose among certain optional features in their contract is known as .....
28. ..... is a coverage for glass breakage caused by all risks.
29. A policy which has terminated and is no longer in force due to non-payment of the premium due is called .....
30. When was the Oriental Life Insurance Company established?
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