Insurance Objective Type Questions and Answers

(21) Which of the following is largest Non Life Insurance Company in India ?

[A] ICICI Lombard General Insurance Company Ltd.

[B] United India Insurance Company Ltd.

[C] General Insurance Company Ltd.

[D] New India Assurance Company Ltd.

Answer: New India Assurance Company Ltd.

(22) Which amongst the following is not an insurance company functioning in India?

[A] ICICI prudential

[B] ING Vysya

[C] National Securities Depository Limited

[D] New India Assurance company

Answer: National Securities Depository Limited

(23) "A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against" is technically known as

[A] Death coverage

[B] Life insurance

[C] Savings for future

[D] Provident fund

Answer: Life insurance

(24) With which of the following did the State Bank of India enter into a joint venture agreement for undertaking general insurance business?

[A] New India Assurance Ltd.

[B] Insurance Australia Group

[C] Lehman Brothers Holdings Inc.

[D] Allianz

Answer: Insurance Australia Group

(25) Which of the following public sector companies/organizations provides insurance cover to exporters?

[A] ECGC

[B] NABARD

[C] SIDBI

[D] IRDA

Answer: ECGC

(26) The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?

[A] Instalment

[B] Contribution

[C] Premium

[D] EMI

Answer: Premium

(27) Which of the following is/are the various types of insurance?

1. Life insurance

2. Health insurance

3. Liability insurance

[A] Only (a)

[B] Only (a) and (b)

[C] Only (b) and (c)

[D] All the three

Answer: All the three

(28) Which of the following terms is used in the field of finance and banking?

[A] Elasticity

[B] Inflation

[C] Pulse rate

[D] All the three

Answer: Inflation

(29) Expand the term IFRS.

[A] Indian Financial Reporting Standards

[B] Indian Financial Reporting Systems

[C] International Financial Reporting Standards

[D] International Financial Reporting Systems

Answer: International Financial Reporting Standards

(30) Under the ESOP, who of the following are offered shares in the company?

[A] Employees

[B] Existing Shareholders

[C] Promoters

[D] NRIs

Answer: Employees

31 Fiscal policy is concerned with which of the following?

[A] Export and import

[B] Public revenue and expenditure

[C] Issue of currency

[D] Population control

Answer: Public revenue and expenditure

32 Which of the following is NOT a part of India’s money market?

[A] Bill market

[B] Call money market

[C] Banks

[D] Indian Gold council

Answer: Indian Gold council

33 Which of the following is the regulator of the credit rating agencies in India?

[A] RBI

[B] SBI

[C] SEBI

[D] None of these

Answer: SEBI

34 FDI refers to

[A] Fixed Deposits in India

[B] Foreign Direct Investment

[C] Foreign Deposits in India

[D] Future Derivative Investment

Answer: Foreign Direct Investment

35 Aviva plc is an multinational insurance company headquartered in –

[A] Munich

[B] Paris

[C] London

[D] Tokyo

Answer: London

36 State financial Corporations give assistance mainly to develop which of the following?

[A] Small and medium scale industries

[B] Agricultural sector

[C] Cotton industry

[D] Large scale industries

Answer: Small and medium scale industries

37 Bonds issued by Indian entities outside India but denominated in Indian rupees are known as –

[A] Desi Bonds

[B] NRI Bonds

[C] Pravasi Bonds

[D] Masala Bonds

Answer: Masala Bonds

38 Yogakshemam Vahamyaham is the tag line of –

[A] HDFC Life Insurance

[B] SBI Life Insurance

[C] Bharti AXA Life Insurance

[D] Life Insurance Corporation

Answer: Life Insurance Corporation

39 Sar Utha ke Jiyo is the tag line of –

[A] HDFC Life Insurance

[B] Birla Sun Life Insurance

[C] Aviva Life Insurance

[D] Sahara India Life Insurance

Answer: HDFC Life Insurance

40 AXA is an insurance company headquartered in –

[A] London

[B] Tokyo

[C] New York

[D] Paris

Answer: Paris

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