Insurance Awareness Quiz for LIC AAO- Set 11 (Public Sector Insurance Companies)

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.

1. When was the National Insurance Company Limited (NICL) incorporated?
   A) 5 December 1906
   B) 18 july 1984
   C) 22 November 1938
   D) 30 April 1919
   
   View answer

   Option A
   
2. Where is the headquarter of NICL located?
   A) Hyderabad
   B) Mumbai
   C) Kolkata
   D) Jaipur
   
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   Option C
   
3. Who is the Chairman cum Managing Director of NICL?
   A) K Sanath Kumar
   B) Tajinder Mukherjee
   C) Sidharth Pradhan
   D) Lalit Kumar Chandel
   
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   Option B
   
4. What is the authorized capital of NICL?
   A) Rs 500 crore
   B) Rs 300 crore
   C) Rs 100 crore
   D) Rs 200 crore
   
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   Option D
   Explanation: The authorized capital and paid-up equity capital of the company is Rs.200 crore and Rs.100 crore respectively.
5. How many insurance companies were merged with National Insurance Company Limited after nationalization in 1972?
   A) 54
   B) 19
   C) 32
   D) 28
   
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   Option C
   Explanation: After nationalization in 1972 it was merged, along with 21 foreign and 11 Indian companies, to form National Insurance Company Ltd
6. Apart from being a leading insurance provider in India, NICL also serves which other country?
   A) Nepal
   B) Sri Lanka
   C) Bhutan
   D) Bangladesh
   
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   Option A
   
7. The Agriculture Insurance Company Of India Limited was incorporated on ____________
   A) 6 August 1999
   B) 29 October 1997
   C) 12 February 2000
   D) 20 December 2002
   
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   Option D
   Explanation: ‘Agriculture Insurance Company Of India Limited’ (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under the Companies Act, 1956 on 20th December 2002
8. Who is the Chairman cum Managing Director of Agriculture Insurance Company Of India Limited (AIC)?
   A) Ashish Kumar Bhutani
   B) Alamelu T. Lakshmanachari
   C) N Srinivasa Rao
   D) Alice G. Vaidyan 
   
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   Option B
   
9. What is the authorized capital of Agriculture Insurance Company (AIC) Limited?
   A) Rs 1500 crore
   B) Rs 1000 crore
   C) Rs 500 crore
   D) Rs 800 crore
   
   View answer

   Option A
   Explanation: The Authorized Share Capital of the Company is Rs. 1500 crore with initial Paid-up Equity Share Capital of the Company of Rs. 200 crore.
10. The headquarter of Agriculture Insurance Company Of India Limited (AIC) is located in which city?
    A) Bengaluru
    B) Pune
    C) New Delhi
    D) Hyderabad
    
    View answer

    Option C
    

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