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Quiz 7
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Q.1
UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with the element of subsidy from the Government. UHIS stands for-
Universal Health Insurance Solutions
Universal Health Insurance Scenario
Universal Health Insurance Scheme
Universal Health Insurance System
Q.2
Agriculture Insurance Company of India Limited (AIC) was incorporated in which year?
20th December 2004
20th December 2002
20th December 1999
20th December 2007
Q.3
Headquarter of LIC is situated at:
Kolkata
Delhi
Mumbai
Hyderabad
Q.4
Oldest (1818) life insurance company is:
Postal Life Insurance Company
Max Life Insurance Company
Oriental Life Insurance Company
Bharat Life Insurance Company
Q.5
Where is the head office of Agriculture Insurance Company of India Limited (AIC)?
Hyderabad
New Delhi
Kolkata
Chennai
Q.6
IBAI was incorporated as a Company under Section 25 of the Companies Act, 1956. What is the meaning of "B" in IBAI?
Basel
Broadcasting
Brokers
Board
Q.7
In which year New India Assurance Co Ltd was found?
1918
1818
1919
1945
Q.8
What percent are shares of New India Assurance Co Ltd owned by Government of India?
50%
85%
99.40%
100%
Q.9
Insurance is listed in the Constitution of India in _________scheduled as Union List subject:
Eighth
Ninth
Seventh
Tenth
Q.10
Insurance is legislated by:
Insurance Company
State Government
Central Government
Government of India
Q.11
Which of the following is not the principle of insurance:
Utmost Good Faith
Principle of Contribution
Maximization of Profit
Causa Proxima
Q.12
When was the Export Credit Guarantee Corporation of India established?
1955
1956
1957
1958
Q.13
When was general insurance business nationalised?
1970
1971
1972
1973
Q.14
When was the General Insurance Corporation of India incorporated?
1970
1971
1972
1973
Q.15
New India Assurance Co Ltd has branches in how many countries?
25
26
27
28
Q.16
How long is the free look-in period under a term insurance policy from the date of receipt of the policy document?
5 days
10 days
15 days
20 days
Q.17
Where is the headquarters of New India Assurance Co Ltd located?
New Delhi
Mumbai
Hyderabad
Kolkata
Q.18
Limit of FDI in Insurance sector:
47%
50%
49%
51%
Q.19
Largest Life Insurance Company in India is:
The New India Assurance Company Limited
Life Insurance Corporation of India (LIC)
United India Insurance Company Limited
National Insurance Company Limited
Q.20
Which was an oldest insurance company, found in 1906:
LIC
National Insurance Company
Agriculture Insurance Company of India
United India Insurance Company
Q.21
When was the Oriental Life Insurance Company established?
1815
1818
1821
1833
Q.22
When was Life Insurance sector nationalised?
1947
1951
1956
1959
Q.23
Who is primary underwriter or field underwriter?
Development officer
Insured
Agent
Insurer
Q.24
In traditional life insurance policies, the investment risk is borne by the _________, while in unit linked plans, the investment risk is borne by the _________.
Policyholder, unitholder
Insurance company, unitholder
Insurance company, insurance company
Policyholder, insurer
Q.25
Which of the following options are correct?
Notice of assignment has to be given to the insurer
Notice of nomination has to be given to the insurer
Both A & B
None of the above
Q.26
When was the Insurance Regulatory and Development Authority constituted?
1971
1999
2001
2005
Q.27
In which year New India Assurance Co Ltd nationalized?
1945
1947
1973
1969
Q.28
Life Insurance Corporation was found on:
1 April, 1955
6 December, 1960
4 September, 1956
1 September, 1956
Q.29
In which among the following year National Insurance Company Limited (NICL) was incorporated?
1906
1956
1934
1919
Q.30
When was Triton Insurance Company Ltd established?
1850
1854
1857
1860
Q.31
When was the Indian Mercantile Insurance established?
1905
1906
1907
1908
Q.32
When was the General Insurance Council formed?
1955
1956
1957
1958
Q.33
If a policyholder dies within the grace period, then
The claim will be rejected
The claim will be paid subject to policy conditions
The claim is payable after deducting the premium
None of the above
Q.34
Exclusions in a health insurance policy mean
Diseases covered under health cover
Diseases specifically not covered
Both A & B
None of the above
Q.35
_________ is an annuity with an infinite life and continuous annual payments.
APR
Amortized loan
Perpetuity
Principal
Q.36
It would be advantageous to go for a family floater rather than non-floater due to the reason that
Higher cover would help any family member in case of high cost treatment
Premiums are considerably lower than where cover is taken for individual members
Both A & B
None of the three
Q.37
In which of the following types of claim will insurer order an investigation?
Early death claim
Non-early claim
Maturity claim
Surrender
Q.38
In a money back plan, what is the death claim payable?
Sum insured
Sum insured less survival benefits paid already
Bonus
Nothing is payable
Q.39
Which of the following is not a traditional type of product offered by insurance companies?
Whole life plan
Endowment plan
Moneyback plan
ULIP
Q.40
Which of the following is incorrect with regards to portfolio method?
The total investment return is shared between policyholders
No attempt is made to distinguish between investments of previous years over current investments
This method gives homogenized rates of return
None of the above
Q.41
Declined life means
Life to which insurance could be granted
Life to which insurance cover could not be granted at affordable cost
Both A & B
None of the above
Q.42
Which of the following statements is correct?
Risk prevention aims at avoidance of loss through insurance
Chances of risk are reduced by retention of risk
Loss prevention is nothing but retention of risk
Chances of occurrence of risk are achieved through transfer of such risks
Q.43
When an underwriter has to be very careful?
When sum insured is very small
When sum insured is very large
When income is very small
When income is very high
Q.44
Which is not a recent phenomenon in health insurance industry segment?
Hospital chains are allowed by IRDA to enter health insurance business
Tremendous growth of health insurance business is tapped by standalone companies
Standalone companies are specifically barred from covering rural masses
None of the above
Q.45
Who could not be a claimant under a policy?
Appointee
Assignee
Legal heir
Minor nominee
Q.46
Traditional cash value plans are also known as
Unbundled plans
Bundled plans
Annuity
ULIP
Q.47
To whom should licence fees be paid?
Controller of Insurance
The Insurer
The IRDA
None of the three
Q.48
In a standard insurance policy document, the standard provisions section will have information on which of the following?
Date of commencement, date of maturity and due date of last premium
Name of the nominee
The rights and privileges and other conditions which are applicable under the contract
The signature of the authorized signatory and policy stamp
Q.49
Insurance is legitimate
When an adverse happening is likely
When an adverse happening is unlikely
When an adverse happening is certain
In all the above three situations
Q.50
Insurance benefits replace
All physical losses, in full
All physical losses, partly
All monetary losses, in full
The monetary losses, but only to some extent
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