Insurance Awareness Quiz: We have created quiz questions on Insurance Awareness which are most important for insurance exams. These questions and answers will guide you in all insurance exams like LIC (AAO/ADO), NIACL assistant and AO, UIIC, IRDA and other Bank PO exams and all competitive exams. So attempt these multiple choice questions now based on the exam pattern syllabus. The topic of this quiz is Insurance Ombudsman
- Which among the following insurance company has launched Trip Protector insurance policy to cover the cancellation of pre-booked flights and hotels?
A) ICICI Prudential Life Insurance Company
B) HDFC ERGO General Insurance Company
C) Aegon Life Insurance Company
D) Kotak Mahindra Life Insurance Company
- ________ is a type of insurance plan which return the basic premiums paid for the Life cover in case of survival of the Life Assured till the end of the policy duration.
A) PROP
B) CROP
C) TROP
D) DROP
- As per the IRDAI report, the cumulative new business premium of life insurance business in India grew by_______ percent during April-February 2018-19
A) 5.50%
B) 9.20%
C) 6.10%
D) 7.60%
- The headquarter of Max Life Insurance Company Limited is based in which city?
A) Kolkata
B) Mumbai
C) New Delhi
D) Chennai
- IDV is the maximum Sum Assured fixed by the insurer which is provided on theft or total loss of vehicle in a particular year. What does it stands for?
A) Insurer Deductible Value
B) Insured Declared Value
C) Insurance Divulge Value
D) Insured Data Vested
- The part of the claim where the policyholder agree to pay an extra amount out of its own pocket at the time of claim is known as_________
A) Voluntary Deductible
B) Compulsory Deductible
C) Volatile Deductible
D) Discretionary Deductible
- The total number of years for the policy holder to pay the premium is known as__________
A) Settlement Option
B) Penetration Rate
C) Risk Assessment
D) Premium Paying Term
- IBNR are the reserves for claims that become due with the occurrence of the events covered under the insurance policy, but have not been reported yet. Expand IBNR.
A) Initiated But Not Reported
B) Incurred But Not Reported
C) Induced But Not Reported
D) Intimidated But Not Reported
- With respect to insurance industry, the amount of policies and contracts sold by each sales employee is called ________
A) Productivity
B) Durability
C) Output
D) Work Rate
- ________ is the most important and basic document required for life insurance contract between the insured and insurance company.
A) Insurance Document
B) Insurance Application
C) Proposal Form
D) Policy Form