Insurance Awareness Quiz|31th May 2019

Insurance Awareness Quiz for LIC AAO/ADO

Q1.Which is a fixed amount for a covered service in health sector ?

(a)Coinsurance

(b)Deductible

(c)Copay

(d)Health Insurance

(e)None of these

Answer & Explanation
Ans.1.(c)

Q2.A deductible is usually mentioned in

(a)Rupee

(b)Dollar

(c)Euro

(d)Any currency

(e)None of these

Answer & Explanation
Ans.2.(a)

Q3.The amount of risk retained by an insurance company that is not re-insured is called

(a).Retention

(b)Uninsurable risk

(c)Insurable risk

(d)Reinsure

(e)None of these

Answer & Explanation
Ans.3.(a)

Q4.The Coinsurance is specified by

(a)All of the below

(b)Equity

(c)Ratio

(d)Percentage

(e)None of these

Answer & Explanation
Ans.4.(d)

Q5.In BCAR, C related with __________

(a)Capital

(b)Currency

(c)Customer

(d)Claim

(e)None of these

Answer & Explanation
Ans.5.(a)

Q6._________is a sum of money paid by an employer to an employee for services rendered in the company

(a)Pension

(b)Gratuity

(c)Salary

(d)Premium

(e)None of these

Answer & Explanation
Ans.6.(b)

Q7.What is lapse in insurance ?

(a)Termination of an insurance policy due to the insured’s failure to pay the premium.

(b)It is a policy that does not pay benefits to the beneficiary if the cause of death is an accident

(c)It is a policy that pays benefits to the beneficiary if any emergency occur

(d)It is a policy that pays benefits to the beneficiary if the cause of death is an accident

(e)Both 1 and 2

Answer & Explanation
Ans.7.(e)

Q8.Mortality Charge is the amount charged _____________ by the insurer

(a)Every month

(b)Every year

(c)Every day

(d)Every 6 months

(e)None of these

Answer & Explanation
Ans.8.(b)

Q9.__________________ is an insurance product typically sold or issued by life insurance companies.

(a)Life term policy

(b)Life Insurance

(c)Life Annuity

(d)Term Insurance

(e)None of these

Answer & Explanation
Ans.9.(c)

Q10.What is TPA ?

(a)Third Party Administrators

(b)Third Power Administrators

(c)The Party Accelerators

(d)The Power Administrators

(e)None of these

Answer & Explanation
Ans.10.(a)

 

Leave a Reply