Insurance Awareness Quiz|10th April 2019

Insurance Awareness Quiz for LIC AAO

Q1.Insurance is listed in which schedule of the Indian constitution ?

(a)Eighth Schedule

(b)Sixth Schedule

(c)Seventh Schedule

(d)Fifth Schedule

(e)None of these

Answer & Explanation
Ans.1.(c)

Q2.Which of the following will provide “insurance repository” services  ?

(a)LIC

(b)EXIM Bank

(c)RBI

(d)IRDA

(e)None of these

Answer & Explanation
Ans.2.(d)

Q3.Which act was the first legislation governing all forms of insurance to provide strict state control over insurance business ?

(a)Insurance Act of 1938

(b)General Insurance Business Act of 1972

(c)Life Insurance Corporation Act

(d)Insurance Act of 1988

(e)None of thes

Answer & Explanation
Ans.3.(a)

Q4.The Institute of Insurance and Risk Management is located in _________________

(a)Chennai

(b)Mumbai

(c)New Delhi

(d)Hyderabad

(e)None of these

Answer & Explanation
Ans.4.(d)

Q5.In which year, the Actuaries Act was passed by Indian government ?

(a)2000

(b)2006

(c)1999

(d)1985

(e)None of these

Answer & Explanation
Ans.5.(b)

Q6.The Indian insurance industry is governed by which of the following act ?

(a)IRDA Act 1999

(b)Life Insurance Corporation Act, 1956

(c)General Insurance Business(Nationalisation) Act, 1972

(d)Insurance Act, 1978

(e)All of these

Answer & Explanation
Ans.6.(e)

Q7.The head office of Insurance Institute of India is in

(a)Mumbai

(b)Bengaluru

(c)Chennai

(d)New Delhi

(e)None of these

Answer & Explanation
Ans.7.(a)

Q8.In which state, the Institute of Actuaries of India is situated ?

(a)Karnataka

(b)Maharashtra

(c)Gujarat

(d)New Delhi

(e)None of these

Answer & Explanation
Ans.8.(b)

Q9.What is the minimum capital required to set up an insurance business ?

(a)Rs.500 Cr

(b)Rs.100 Cr

(c)Rs.200 Cr

(d)Rs.400 Cr

(e)None of these

Answer & Explanation
Ans.9.(a)

Q10.National Insurance Academy is located in which city of India ?

(a)Pune

(b)Ahmedabad

(c)Bengaluru

(d)Kolkata

(e)None of these

Answer & Explanation
Ans.10.(a)

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