Insurance Awareness Quiz|3 May 2019

Insurance Awareness Quiz for LIC AAO

Q1.Which type of risks are not insurable ?

(a)Static risk

(b)Liability Pure Risk

(c)Dynamic risk

(d)Diversifiable risk

(e)None of these

Answer & Explanation
Ans.1.(c)

Q2. GIVE stands for _______________

(a)Gross Insurance Value Element

(b)General Individual Value Execution

(d)Gross Incident Validity Element

(e)General Insurance Value Evaluation

(e)None of these

Answer & Explanation
Ans.2.(a)

Q3. Gratuity is paid when an employee

(a)Retirement

(b)Resigns

(c)Death

(d)Illness or disable due to accident

(e)All of these

Answer & Explanation
Ans.3.(e)

Q4. When a contract ceases to be enforceable at law, then it is called as

(a)Legal Contract

(b)Void contract

(c)Life contract

(d)Voidable contract

(e)None of these

Answer & Explanation
Ans.4.(b)

Q5.A professional dealing with the assessment and management of risk for insurance policies is known as

(a)Assignor

(b)Insurer

(c)Actuary

(d)Administrators

(e)None of these

Answer & Explanation
Ans.5.(c)

Q6. In which year, the General Insurance Business Nationalization Act was passed in India ?

(a)1972

(b)1980

(c)1991

(d)1985

(e)None of these

Answer & Explanation
Ans.6.(a)

Q7. An Insurance company has been in business for how many years to launch IPO ?

(a)12

(b)8

(c)5

(d)10

(e)None of these

Answer & Explanation
Ans.7.(d)

Q8. In 2016 , First IPO  launched by which insurance company  ?

(a)Oriental Insurance Company Ltd

(b)ICICI Prudential Life Insurance

(c)LIC

(d)GIC Re

(e)None of these

Answer & Explanation
Ans.8.(b)

Q9. Which of the following is the only Reinsurer Company in India ?

(a)NIACL

(b)GIC Re

(c)LIC

(d)IRDA

(e)None of these

Answer & Explanation
Ans.9.(b)

Q10. Government holds ____________% stake in LIC.

(a)51%

(b)75%

(c)100%

(d)65%

(e)None of these

Answer & Explanation
Ans.10.(c)

 

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