Insurance Awareness Quiz for LIC AAO/ADO
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
Ans.4.(b)[/su_spoiler]
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
