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Free download in PDF Insurance Short Questions and Answers for competitive exams. These short objective type questions with answers are very important for competitive exams like CAT, IBPS etc. as well as Board exams. These short solved questions or quizzes are provided by Gkseries.
41
Which one of the following does not belong to the main products of life insurance?
[A]
Endowment
[B]
Personal accident insurance
[C]
Term
[D]
Whole life
Answer: Personal accident insurance
42
Which one of the following does not belong to the major general insurance private sector companies in India?
[A]
Bajaj Allianz General Insurance
[B]
Reliance General Insurance
[C]
Royal Sundaram Alliance Insurance
[D]
The Oriental Insurace Company
Answer: The Oriental Insurace Company
43
When was the General Insurance Corporation of India incorporated?
[A]
1971
[B]
1972
[C]
1973
[D]
1975
44
What does PAC stand for?
[A]
Post-Authorized Cheque
[B]
Pre-Authorized Cheque
[C]
Pre-Authorized Chequing
[D]
Pre-Authorized Checking
Answer: Pre-Authorized Chequing
45
What is the expanded form of the term ALM?
[A]
Asset Liability Maintenance
[B]
Asset Liability Management
[C]
Asset Liability Manipulation
[D]
Asset Liability Maximisation
Answer: Asset Liability Management
46
Which of the following types of companies/organisations issue ULIP?
[A]
Insurance companies
[B]
Banks
[C]
NABARD
[D]
RBI
Answer: Insurance companies
47
Which of the following is the only public sector company in the field of life insurance?
[A]
General insurance company
[B]
New India assurance company
[C]
Oriental insurance company
[D]
Life Insurance Corporation of India
Answer: Life Insurance Corporation of India
48
Which of the following terms is NOT related to the insurance sector?
[A]
Indemnity
[B]
Coverage
[C]
Misuse Alert
[D]
Annuity
49
Which of the following is/are the various types of insurance?
a) Life insurance
b) Health insurance
c) Liability insurance
[A]
Only (a)
[B]
Only (a) and (b)
[C]
Only (b) and (c)
[D]
All the three
50
The central office of the Life Insurance Corporation of India (LIC) is located at
[A]
Kolkata
[B]
New Delhi
[C]
Chennai
[D]
Mumbai
51
Which of the following is largest Non Life Insurance Company in India ?
[A]
ICICI Lombard General Insurance Company Ltd.
[B]
United India Insurance Company Ltd.
[C]
General Insurance Company Ltd.
[D]
New India Assurance Company Ltd.
Answer: New India Assurance Company Ltd.
52
As we know, the Government is paying much attention to “Micro Finance” these days. Which of the following is one of the examples of Micro Finance?
[A]
Insurance for life
[B]
Investment in Mutual Funds
[C]
Self Help Groups
[D]
Letter of Credit
53
Insurance company transfers the insurance which cannot bear by them to which of the following ?
[A]
TPAs
[B]
Bancassurance
[C]
Reinsurance
[D]
Actuaries
54
Which of the following is customer of a Reinsurer?
[A]
Insurance Companies
[B]
High Networth Individual
[C]
Licenced Insurance Agents
[D]
NGOs
Answer: Insurance Companies
55
What is the maximum Time in which the insurer should settle a claim when all documents are submitted
[A]
5 days
[B]
20 days
[C]
30 days
[D]
15 days
56
A insurer advertises through daily news paper . What type of marketing is
[A]
cross selling
[B]
policy selling
[C]
Solicitation of Policy
[D]
Insurance selling
Answer: Solicitation of Policy
57
MWP- If the policy is endorsed under MWP – then the beneficiaries are wife and ?
[A]
ex-wife
[B]
children
[C]
mother
[D]
parents
58
A insurer advertises through daily newspaper . What type of marketing is
[A]
cross selling
[B]
policy selling
[C]
Solicitation of Policy
[D]
Insurance selling
59
General Insurance (Public Sector) Association of India’s HQ is situtated in?
[A]
Telengana
[B]
Mumbai
[C]
Delhi
[D]
Chennai
60
India’s Agricultural Insurer is:
[A]
NABARD
[B]
GIC
[C]
KIshan Bima Sanstha
[D]
AIC
Answer: KIshan Bima Sanstha
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