Insurance Awareness Quiz – Set 63
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.
- India’s first insurance company Oriental Life Insurance Company was established in which city?
A) Mumbai
B) Kolkata
C) Pune
D) New Delhi
- Indian Life Assurance Companies Act came into being in which year?
A) 1910
B) 1932
C) 1912
D) 1920
- What is the name of the insurance company which was first general insurance company in India?
A) The Oriental Insurance Company
B) New India Assurance
C) GIC Re
D) Triton Insurance Company Ltd.
- What is the full form of ULIP?
A) Unit liked insurance policy
B) Unity linked insurance plans
C) Unit linked insurance plans
D) Universal linked insurance plans
- An extension of endowment plans is known as which policy?
A) Money Back policy
B) Term insurance policy
C) General insurance policy
D) Health insurance epolicy
- When a demand is made by insured for payment of the benefits is called as
A) Coverage
B) Premium
C) Reward
D) Claim
- A risk or a damaged covered in an insurance policy is known as
A) Peril
B) Lapse
C) Annuity
D) Coverage
- What is the maturity age of a whole life policy?
A) 100
B) 65
C) 70
D) 80
- In which currency deductible is usually mentioned?
A) Rupee
B) Euro
C) Dollar
D) None
- The coinsurance is specified by _____.
A) Equity
B) Ratio
C) Percentage
D) None