The concept of Insurance involves a transfer of
(a) Liability
(b) Needs
(c) ownership
(d) Risk
(e) All of the above
Ques 2.
Rakesh recently bought a health insurance policy and a personal accident policy. What main section (s) of the insurance market do these products normally fall into ?
(a) Life insurance in both cases.
(b) Life insurance for health and non-life insurance fro personal accident
(c) Non-life insurance in both cases
(d)Non-life insurance for health and life insurance for personal accident
(e) All of the above
Ques 3.
The main role of an underwriter in a non-life insurance company is normally to
(a) asses the acceptability of particular risks .
(b) certify a loss when claims are submitted
(c) design the structure of the products to be offered
(d)negotiate with the industry regulator
(e) None of the above
Ques 4.
Which of the following statement related to general Insurance Corporation of India is NOT correct ?
(a) It is the sole reinsurance company in the Indian Insurance Market
(b) The entire general insurance business in India was nationalized by the Government of India through the General Insurance Business of 1981
(c) It has been active in the Indian Insurance Market with over three decades
(d) It is registered office and headquarters is Mumbai
(e) None of the above
Ques 5.
Which of the following statements is/are correct regarding the Insurance Development Authority ?
(a) It aims at the protection of the Interests of the policy holders
(b) As laid down in section 14 of IRDA Act, 1999 it has powers of undertaking Inspection of conducting enquirers and investigation into all companies of insurance business
(c) It is an authority of State Government
(d) Both (a) and (b) are correct
(e) All (a), (b) and (c) are correct
Ques 6.
Which of the following is NOT one among the various types of insurance ?
(a) Life Insurance
(b) health Insurance
(c) General Insurance
(d) liability Insurance
(e) None of the above
Ques 7.
The committee which formed to evaluate Indian types of Insurance ?
(a) Narashimam Committee
(b) Chakrovarty Commitee
(c) Raja Chelliah Committee
(d) Malhotra committee
(e) Goipuria Committee
Ques 8.
Private sector and foreign company were allowed in Indian insurance sector in the year ?
(a) 1990
(b) 1991
(c) 1996
(d) 1999
(e) 2000
Ques 9.
In which year the life Insurance companies Act and the provident Fund act were passed to regular the insurance business ?
(a) 1912
(b) 1925
(c) 1937
(d) 1947
(e) None of the above
Ques 10.
Health Insurance Policy introduced by the government for the people living below poverty line is :
(a) Integrated Health Policy
(b) Cradle Care
(c) Medi Cliam
(d) Jan-Arogya
(e) Swasthya Bima
Ques 11.
General Insurance Company was nationalized in the year :
(a) 1969
(b) 1981
(c) 1972
(d) 1978
(e) 1999
Ques 12.
Premium In motor insurance is fixed by :
(a) IRDA
(b) Reserve Bank of India
(c) LIC
(d) Tariff advisory Committee
(e) All of the above
Ques 13.
Income Tax concession in general insurance is given under section :
(a) 80 D
(b) 80 C
(c) 80 CC
(d) 81 D
(e) None of the above
Ques 14.
Motor insurance originated in:
(a) USA
(b) UK
(c) Germany
(d) France
(e) India
Ques 15.
Reinurance' refers to the practice by insurance companies of :
(a) Buying insurance from another firm
(b) Insuring the same risk twice
(c) issuing new policies
(d) Renewing existing policies
(e) Terminating existing policies
Ques 16.
yogakshemam Vohamayham" , the slogan of LIC is derived from which of the following ancient texts ?
(a) The rig Veda
(b) The Mahabharat
(c) The Bhagabad Gita
(d) The Manusmriti
(e) None of the above
Ques 17.
"yogakshemam Vahamyaham', the slogan of LIC is written in its logo in :
(a) Khorosti
(b) devnagri
(c) Pali
(d) Magadhi
(e) None of the above
Ques 18.
the Insurance Regulatory development Authority was established by the Recommendation of :
(a) malhotra Commitee
(b) Narashiman Committee
(c) kelkar Commitee
(d) Rangarjan Committee
(e) Planning Commission of India
Ques 19.
IRDA has headquartered at :
(a) Delhi
(b) Mumbai
(c) kolkata
(d) Hyderabad
(e) Chennai
Ques 20.
Which of the following is NOT a private sector insurance company in India ?
(a) United India Insurance Co Ltd
(b) Continental Insurance Services
(c) ICICI Prudential
(d) SBI General Insurance
(e) IDBI Federal Life Insurance
