Insurance Awareness Quiz – Set 2
Insurance Awareness Quiz: We have created quiz on Insurance Awareness which are most important for insurance exams. These questions will guide you in all insurance exams like LIC (AAO/ADO), NIACL, UIIC, IRDA and other exams. So attempt them now.
- The Insurance Regulatory and Development Authority (IRDA) was formed on the recommendation of which committee?
A) Banarji Committee
B) Kutumbe Committee
C) Malhotra Committee
D) Gupte Committee
- IRDA Act was passed in which year by the Government of India?
A) 1992
B) 2002
C) 2000
D) 1999
- The IRDA was incorporated as a statutory body on______________?
A) 30 April 2001
B) 01 July 2002
C) 31 December 1999
D) 19 April 2000
- What is the FDI limit in the Insurance sector?
A) 26%
B) 49%
C) 100%
D) 74%
- Which section of Insurance Act, 1938 grants power to IRDA to frame regulations?
A) Section 114A
B) Section 111B
C) Section 110A
D) Section 112B
- The headquarter of Insurance Regulatory and Development Authority of India (IRDAI) is in which city?
A) Mumbai
B) New Delhi
C) Hyderabad
D) Kolkata
- The board of IRDAI consists of how many members?
A) 10
B) 5
C) 4
D) 8
- Who is the Chairman of the IRDAI?
A) Sujay Banarji
B) P. J. Joseph
C) Praveen Kutumbe
D) Subhash C. Khuntia
- Which of the following is a reinsurance company in India?
A) The Oriental Insurance Company
B) General Insurance Corporation of India
C) Agriculture Insurance Company of India
D) SBI General Insurance
- How many insurance companies were merged to form the Life Insurance Corporation of India?
A) 200
B) 176
C) 245
D) 125