Insurance Awareness Quiz | 30th November 2018

Dear Aspirants, Welcome to Insurance Awareness Questions in ambitiousbaba.com. Here we are covering some important questions for insurance exams.

Question 1: What key event is most likely to prevent insurers from ensuring that each insured person brings a fair premium to the pool for the risk presented?

a) A policy assignment

b) A sudden illness

c) A fraudulent claim

d) A steep risk in inflation

Question 2: Raunak recently arranged a life ins. Policy under which he is classed as the master policyholder. This addresses his role as

a) a creditor

b) a debtor

c) an employee

d) an employer

Question 3: When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?

a) Emergency funds

b) Funds for children’s savings

c) Funds for educational costs

d) House purchase funds

Question 4: Commission in single premium policy is            than 1 year commission of traditional policy.

a) higher

b) lower

c) equal

d) none

Question 5: Ambiguity in language in policy used is against

a) Broker

b)Insurer                  

c)agent                     

d) Insured

Question 6: Where is the headquarters of Star Union Dai-ichi Life Insurance Co. Ltd. located?
a) Mumbai

b) Jaipur
c) Pune
d) Bengaluru

Question 7: Where is the headquarters of IndiaFirst Life Insurance Co. Ltd. located?
a) Gurgaon

b) Agra
c) Mumbai
d) Lucknow

Question 8: Where is the headquarters of Edelweiss Tokio Life Insurance Co. Ltd. located?
a) New Delhi
b) Lucknow
c) Mumbai
d) Gurgaon

Question 9: Where is the headquarters of Bajaj Allianz General Insurance Co. Ltd. located?
a) Lucknow
b) Pune
c) Gurgaon
d) Bengaluru

Question 10: The process of determining the cost of an insurance policy based on the actual loss experience determined as an adjustment to the initial premium payment is termed as _______
a) Universal Life Insurance
b) Unauthorized Reinsurance
c) Unearned Premium
d) Retrospective Ratin

SOLUTION

  1. D
  2. D
  3. A
  4. B
  5. B
  6. A
  7. C
  8. C
  9. B
  10. D

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