Dear Aspirants, Welcome to Insurance Awareness Questions in ambitiousbaba.com. Here we are covering some important questions for insurance exams.
Question 1: Pension policies contract provide benefits of
(A) pre and post retirement
(B) post retirement
(C) Pre retirement
(D) SI
(E) None
Question 2: Life insurance is also known as
(A) Annuities business
(B) Health business
(C) Long term business
(D) Short term business
(E) None
Question 3: Health insurance is part of which line of insurance?
(A) Life insurance
(B) General insurance
(C) Standalone life of business
(D) All of the above
(E) None
Question 4: A single policy issued as evidence of the contract of group coverage is called policy
(A) master
(B) group
(C) individual
(D) All of the above
(E) None
Question 5: In which year, the Indian Life Assurance Companies Act came into force ?
(A) 1910
(B) 1932
(C) 1920
(D) 1912
(E) None of these
Question 6: ______________ is an extension of endowment plans
(A) Health insurance policy
(B) Money back policy
(C) Term insurance policy
(D) General insurance policy
(E) None of these
Question 7: In profit product investment risk is with
(A) Employees
(B) policy holders
(C) shareholders
(D) all the above
(E) policyholders & shareholders.
Question 8: A risk or damage covered by an insurance policy is called as ______________
(A) Coverage
(B) Annuity
(C) Lapse
(D) Peril
(E) None of these
Question 9: The maturity age of a whole life policy is ____________
(A) 100
(B) 65
(C) 70
(D) 80
(E) None of these
Question 10: Life insurance is also known as
(A) Benefit contract
(B) Reimbursement contract
(C) None
(D) Both
(E) Money back
SOLUTION
- B
- C
- C
- A
- D
In the year 1912, the Life Insurance Companies Act and the Provident Fund Act were passed to regulate the insurance business
- B
Money back policies are basically an extension of endowment plans wherein the policy holder receives a fixed amount at specific intervals throughout the duration of the policy.
- B
- D
Peril is a specific risk or cause of loss covered by an insurance policy, such as a fire, windstorm, flood, or theft.
- A
- A
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