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Insurance Awareness Quiz 2 (20 MCQs)

Quiz Instructions

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1. Which of the following is an optional feature that can be added to a policy?
2. Which bank is the sponsor of Prathama Gramin Bank?
3. An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called .....
4. The person in whose name the insurance policy is made is referred to as
5. Percentage of each premium rupee a property/casualty insurer spends on claims and expenses is called .....
6. Which one of the following does not belong to regulatory bodies in India?
7. 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 .....
8. Which of the following types of companies/organisations issue ULIP?
9. A contract, such as an insurance contract, requiring that certain acts be performed if recovery is to be made is known as .....
10. A person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held is called .....
11. With which of the following did the State Bank of India enter into a joint venture agreement for undertaking Life insurance business?
12. Which one of the following does not belong to the major general insurance private sector companies in India?
13. An insurance company not licensed to do business within a given state is called .....
14. A seller's market in which insurance is expensive and in short supply is termed as .....
15. 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.....
16. 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 .....
17. The payment of sum assured to the insured person which has become due by instalments under a money back policy is known as .....
18. A term policy that can be converted to permanent coverage rather than expiring on a specific date is called .....
19. When was the General Insurance Council formed?
20. ..... is the total benefit an insured person will receive at the time of claim.
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