LIC AAO Insurance Awareness Quiz|29th March 2019

Insurance Awareness Quiz for LIC AAO

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

Q2.A deductible is usually mentioned in

(a)Rupee

(b)Dollar

(c)Euro

(d)Any currency

(e)None of these

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

Q4.The Coinsurance is specified by

(a)All of the below

(b)Equity

(c)Ratio

(d)Percentage

(e)None of these

Q5.In BCAR, C related with __________

(a)Capital

(b)Currency

(c)Customer

(d)Claim

(e)None of these

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

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

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

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

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

Ans.1.(c)

Ans.2.(a)

Ans.3.(a)

Ans.4.(d)

Ans.5.(a)

Ans.6.(b)

Ans.7.(e)

Ans.8.(b)

Ans.9.(c)

Ans.10.(a)

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