Insurance QUIZ for NICL AO

1. The central office of the Life Insurance Corporation of India (LIC) is located at

1) Kolkata

2) New Delhi

3) Chennai

4) Pune

5) Mumbai

2. Which of the following was the parent company of New India Assurance ?

1) LIC

2) GIC

3) Oriental Insurance Co. Ltd.

4) United India Insurance

5) None of these

3. The New India Assurance Company was established in 1919 by

1) Dorab Tata

2) G. D. Birla

3) Jamunalal BajaJ

4) Kamlapat Singhania

5) None of these

4. Which of the following is largest Non Life Insurance Company in India ?

1) ICICI Lombard General Insurance Company Ltd.

2) United India Insurance Company Ltd.

3) General Insurance Company Ltd.

4) New India Assurance Company Ltd.

5) None of these

5. In Insurance policies we always find a date which is “Date of Maturity”. What does it mean?

1) This is the date on which the policy was sold to the customer/person insured.

2) This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her.

3) This is the date on which the contract between the person and insurance company will come to an end.

4) The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the “payment due date”.

5) None of these

6. 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?

1) Insurance for life

2) Investment in Mutual Funds

3) Self Help Groups

4) Letter of Credit

5) All of these

7. Which of the following terms is Not used in the world of finance, banking and insurance?

1) Devaluation

2) Amnesty

3) Hard currency

4) Preference share

5) Sinking fund

8. Insurance company transfers the insurance which cannot bear by them to which of the following ?

1) TPAs

2) Bancassurance

3) Reinsurance

4) Actuaries

5) None of these

9. Which of the following is customer of a Reinsurer?

1) Insurance Companies

2) High Networth Individual

3) Licenced Insurance Agents

4) NGOs

5) None of these

10. The Non Government organizations(NGO) helps the insurance industry mainly in

1) Linking third party administrators

2) Promotional activities

3) Drafting new regulations

4) Linking buyers and sellers

5) None of these

11. What is the maximum Time in which The insurer should settle a claim when all documents are submitted

1) 5 days

2) 20 days

3) 30 days

4) 15 days

5) None of these

12. A missing person is considered to be dead after how many years of missing ?

1) 3years

2) 5years

3) 15 years

4) 7years

5) None of these

13. A insurer advertises through daily news paper . What type of marketing is

1) cross selling

2) policy selling

3) Solicitation of Policy

4) Insurance selling

5) None of these

14. MWP- If the policy is endorsed under MWP – then the beneficiaries are wife and ?

1) ex-wife

2) children

3) mother

4) parents

5) None of these

15. Which Insurance Company started its operation in the year in which India got Independence?

1) UIICL

2) GIC

3) LIC

4) OICL

5) None of these

Answers:

1. 5
2. 2
3. 1
4. 4
5. 3
6. 3
7. 2
8. 3
9. 1
10. 4
11. 3
12. 4
13. 3
14. 2
15. 4