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.
- In insurance, the members of a community subscribe to a common pool/fund which is collected by the insurer to __________ the losses arising out of the risks.
A) indemnify
B) pay
C) intermediate
D) fix
- Which of the following is not an aspect of insurance?
A) Asset
B) Risk Insured against
C) Principle of product
D) Principle of pooling
- Who amongst the following is also known as underwriter?
A) insured
B) assured
C) insurer
D) agent
- Which of the following insurance principle is also known as principle of utmost good faith?
A) Principle of indemnity
B) Principle of Subrogation
C) Principle of causa proxima
D) Principle of ‘uberrima fides’
- Which of the following is the license issuing authority for non-life insurance business in India?
A) GIC
B) LIC
C) IRDAI
D) GIC Re
- Where is the headquarters of International Association of Insurance Supervision (IAIS) located?
A) London
B) Beijing
C) New Delhi
D) Basel
- A person who is authorized to sell a policy of only one life insurance company at a time is known as?
A) Broker
B) Agent
C) Surveyors
D) Loss Assessors
- A person who is authorized to sell a policy of more than one life insurance company at a time is known as?
A) Broker
B) Agent
C) Surveyors
D) Loss Assessors
- TPAs are the middleman in ____ industry for insurance.
A) transport
B) healthcare
C) education
D) automobile
- Bancassurance term first appeared in ________ in 1980, to define the sale of insurance products through banks’ distribution channels
A) India
B) Germany
C) France
D) US