Insurance Awareness Quiz|3rd April 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

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

Q3. Gratuity is paid when an employee

(a)Retirement

(b)Resigns

(c)Death

(d)Illness or disable due to accident

(e)All of these

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

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

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

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

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

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

Q10. Government holds ____________% stake in LIC.

(a)51%

(b)75%

(c)100%

(d)65%

(e)None of these

Answer Key

Ans.1.(c)

Ans.2.(a)

Ans.3.(e)

Ans.4.(b)

Ans.5.(c)

Ans.6.(a)

Ans.7.(d)

Ans.8.(b)

Ans.9.(b)

Ans.10.(c)

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