Insurance Questions for OICL AO

1. “A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against” is technically known as

1. Death coverage
2. Life insurance
3. Savings for future
4. Provident fund

2. With which of the following did the State Bank of India enter into a joint venture agreement for undertaking general insurance business?

1. New India Assurance Ltd.
2. Insurance Australia Group
3. Lehman Brothers Holdings Inc.
4. Allianz

3. Which of the following is the only public sector company in the field of life insurance?

1. General insurance company
2. New India assurance company
3. Oriental insurance company
4. Life Insurance Corporation of India

4. The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?

1. Instalment
2. Contribution
3. Premium
4. EMI

5. Which of the following public sector companies/organizations provides insurance cover to exporters?

1. ECGC
2. NABARD
3. SIDBI
4. IRDA

6. With which of the fields is actuarial science associated?

1. Insurance
2. Banking
3. Micro-finance
4. Space technology

7. Expand the term IFRS.

1. Indian Financial Reporting Standards
2. Indian Financial Reporting Systems
3. International Financial Reporting Standards
4. International Financial Reporting Systems

8. What does the term FSDC, used in financial sectors stand for?

1. Financial Security and Development Council
2. Financial Stability and Development Council
3. Fiscal Security and Development Convention
4. Fiscal Stability and Development Council

9. Which of the following insurance companies gives the slogan Prithvi, Agni, Jal, Akash – Sab ki Surakhsa Hamare Paas?

1. Life Insurance Corporation
2. Oriental Insurance Company
3. New India Assurance
4. General Insurance Company

10. Which of the following is/are the various types of insurance?

(a) Life insurance

(b) Health insurance

(c) Liability insurance

1. Only (a)
2. Only (a) and (b)
3. Only (b) and (c)
4. All the three

Answers:

1. 2
2. 2
3. 4
4. 3
5. 1
6. 1
7. 3
8. 2
9. 2
10. 4