Banking Awareness Based on Insurance Companies | Daily Banking Awareness Quiz

Banking Awareness Based on Insurance companies  | Daily Banking Awareness Quiz 2

Banking Awareness is the most important subject in the mains examinations of bank and insurance exams.  Insurance companies is a very vital topic of the Banking awareness section. Insurance companies is a very scoring topic. We are providing  Insurance companies quiz based on the banking awareness syllabus. This  Insurance companies quiz provided on our website can be helpful for different exams such as IBPS PO, SBI PO, RRB PO, IBPS clerk, SBI clerk. This Insurance companies quiz on our website comes with analysis and explanation highlighting important areas of Banking awareness.

Q1.Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called as-
(a)EMI
(b)Installment
(c)Service
(d)Interest
(e)Premium

Answer & Explanation
Ans.1.(e)
Exp.Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called Premium.

Q2.Which Insurance company has been recognised amongst the Top 75 Most Valuable Indian Brands 2020?
(a)Bharti AXA Life
(b)Tata AIA Life
(c)ICICI Prudential Life
(d)Bajaj Allianz Life
(e)HDFC Life

Answer & Explanation
Ans.2.(d)
Exp.Bajaj Allianz Life has been recognised amongst the Top 75 Most Valuable Indian Brands 2020, as per BrandZ report released by Kantar.

Q3.___________ won the ‘Best Fraud Intelligence’ award at the 5th Annual Insurance India Summit & Awards 2020-
(a)Bharti AXA Life
(b)Tata AIA Life
(c)ICICI Prudential Life
(d)Bajaj Allianz Life
(e)HDFC Life

Answer & Explanation
Ans.3.(d)
Exp.Bajaj Allianz Life won the ‘Best Fraud Intelligence’ award at the 5th Annual Insurance India Summit & Awards 2020.

Q4.Which is a/are types of Insurance?
(a)Life Insurance
(b)Motor insurance
(c)Health insurance
(d)Travel insurance
(e)All of the above

Answer & Explanation
Ans.4.(e)
Exp.Broadly, there are 8 types of insurance, namely:
Life Insurance
Motor insurance
Health insurance
Travel insurance
Property insurance
Mobile insurance
Cycle insurance
Bite-size insurance

Q5.Which is Not a type of Life Insurance Policy?
(a)Term Plan
(b)Senior Citizen Plan
(c)Endowment Plan
(d)Unit Linked Insurance Plans
(e)Whole Life Insurance

Answer & Explanation
Ans.5.(b)
Exp.There are primarily seven different types of insurance policies when it comes to life insurance. These are-
Term Plan
Endowment Plan
Unit Linked Insurance Plans
Whole Life Insurance
Child’s Plan
Money-Back
Retirement Plan

Q6.No Claim Bonus refers to-
(a)A discount that is offered to policyholders for every non claim year of a health or a motor insurance company
(b)A document used by a company’s accounts payable department containing the supporting documents for an invoice
(c)A negotiable instrument that contains an unconditional order to the bank to pay a certain sum mentioned in the instrument
(d)A valuation method used to estimate the value of an investment based on its expected future cash flows
(e)All of the above

Answer & Explanation
Ans.6.(a)
Exp.No Claim Bonus refers to a discount that is offered to policyholders for every non claim year of a health or a motor insurance company.

Q7.”Aapatkale Rakshisyami” is the Slogan of which Insurance Company?
(a)Life Insurance Corporation of India
(b)General Insurance Corporation of India
(c)Oriental Insurance Company
(d)United India Insurance Company
(e)New India Assurance Company

Answer & Explanation
Ans.7.(b)
Exp.“Aapatkale Rakshisyami” is the Slogan of General Insurance Corporation of India.

Q8.Actuarial science is associated to?
(a)Banking
(b)ATMs
(c)Insurance
(d)Space Technology
(e)All of the above

Answer & Explanation
Ans.8.(c)
Exp.Actuarial science is associated to Insurance.

Q9.HDFC Life Insurance Company, one of the top insurance companies in India is a joint venture between HDFC Ltd., India’s leading housing finance institution and –
(a)Mitsui Sumitomo Insurance Company
(b)AIA Group Limited
(c)Bharti Enterprises
(d)Standard Life Aberdeen
(e)BNP Paribas Cardif

Answer & Explanation
Ans.9.(d)
Exp.HDFC Life Insurance Company, one of the top insurance companies in India is a joint venture between HDFC Ltd, leading housing finance institution in India and Standard Life Aberdeen, a global investment company.

Q10.Aviva Life Insurance Company is a joint venture between Aviva plc, a British Assurance Company and-
(a)Reliance Jio
(b)TCS
(c)Dabur Group
(d)Bharti Enterprises
(e)Mitsui Sumitomo Insurance Company

Answer & Explanation
Ans.10.(c)
Exp.Aviva Life Insurance Company is a joint venture between Aviva plc, a British Assurance Company and Dabur Group, an Indian conglomerate.

Attempt More Banking Awareness Quiz Topic wise

Recommended PDF’s:

2020 Preparation Kit PDF

Most important PDF’s for Bank, SSC, Railway and Other Government Exam : Download PDF Now

AATMA-NIRBHAR Series- Static GK/Awareness Practice Ebook PDF Get PDF here
The Banking Awareness 500 MCQs E-book| Bilingual (Hindi + English) Get PDF here
AATMA-NIRBHAR Series- Banking Awareness Practice Ebook PDF Get PDF here
Computer Awareness Capsule 2.O Get PDF here
AATMA-NIRBHAR Series Quantitative Aptitude Topic-Wise PDF 2020 Get PDF here
Memory Based Puzzle E-book | 2016-19 Exams Covered Get PDF here
Caselet Data Interpretation 200 Questions Get PDF here
Puzzle & Seating Arrangement E-Book for BANK PO MAINS (Vol-1) Get PDF here
ARITHMETIC DATA INTERPRETATION 2.O E-book Get PDF here

 

 

Leave a Reply