Insurance Awareness Quiz for LIC AAO- Set 18

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. The HDFC Life Insurance was previously known as ___________
   A) HDFC ERGO Life Insurance
   B) HDFC Prudential Life Insurance
   C) HDFC Standard Life Insurance
   D) HDFC Sun Life Insurance
   
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   Option C
   
2. The headquarter of the International Association of Insurance Supervisors (IAIS) is located at  ______________
   A) Geneva, Switzerland
   B) Berlin, Germany
   C) Singapore
   D) Basel, Switzerland
   
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   Option D
   
3. ‘Your Welfare is Our Responsibility’ is the slogan of which insurance company?
   A) Life Insurance Corporation of India 
   B) United India Insurance Company Limited
   C) The Oriental Insurance Company Limited
   D) National Insurance Company limited
   
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   Option A
   
4. Which among the following is the largest non-bank private-sector life insurer in India?
   A) TATA AIA Life Insurance Company Limited
   B) Max Life Insurance Company Limited
   C) Exide Life Insurance Company Limited
   D) Bajaj Allianz Life Insurance Company Limited
   
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   Option B
   
5. GIC Re receives statutory cession of _______ percent on each and every policy subject to certain limits
   A) 8%
   B) 10%
   C) 2%
   D) 5%
   
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   Option D
   Explanation: GIC writes reinsurance for every non-life and over half of the life insurance companies in India. GIC Re receives statutory cession of 5 percent on each and every policy subject to certain limits. 
6. Munich Re is a leading reinsurance company based in which country?
   A) France
   B) Switzerland
   C) Germany
   D) China
   
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   Option C
   
7. Name the insurance company which has received the Assocham Non-Life Insurer of the Year Award 2019?
   A) Bharti AXA General Insurance Company Limited
   B) ICICI Lombard General Insurance Company Limited
   C) Acko General Insurance Company Limited
   D) Bajaj Allianz General Insurance Company Limited
   
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   Option A
   
8. Who is the Chairman cum Managing Director of the ECGC Limited?
   A) M Senthilnathan
   B) Geetha Muralidhar
   C) Bidyut Behari Swain
   D) Alice G. Vaidyan
   
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   Option B
   
9. Besides serving India, the state owned National Insurance Company Limited (NICL) also provides its insurance service in which country?
   A) Pakistan
   B) Malaysia
   C) Bhutan
   D) Nepal
   
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   Option D
   
10.  Name the first wholly Indian-owned Life Insurance Company in the private sector?
    A) Exide Life Insurance Company Limited
    B) Shriram Life Insurance Company Limited
    C) Sahara India Life Insurance Company Limited
    D) IndiaFirst Life Insurance Company
    
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    Option C
    Explanation: It started operating from 30 October 2004 after being granted license to operate as a life insurer in India by Insurance Regulatory and Development Authority on 6 February 2004 

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