Insurance MCQs | Insurance Short Questions and Answers

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Questions
41 Which one of the following does not belong to the main products of life insurance?
A Endowment
B Personal accident insurance
C Term
D Whole life

Answer: Personal accident insurance
42 Which one of the following does not belong to the major general insurance private sector companies in India?
A Bajaj Allianz General Insurance
B Reliance General Insurance
C Royal Sundaram Alliance Insurance
D The Oriental Insurace Company

Answer: The Oriental Insurace Company
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43 When was the General Insurance Corporation of India incorporated?
A 1971
B 1972
C 1973
D 1975

Answer: 1972
44 What does PAC stand for?
A Post-Authorized Cheque
B Pre-Authorized Cheque
C Pre-Authorized Chequing
D Pre-Authorized Checking

Answer: Pre-Authorized Chequing
45 What is the expanded form of the term ALM?
A Asset Liability Maintenance
B Asset Liability Management
C Asset Liability Manipulation
D Asset Liability Maximisation

Answer: Asset Liability Management
46 Which of the following types of companies/organisations issue ULIP?
A Insurance companies
B Banks
C NABARD
D RBI

Answer: Insurance companies
47 Which of the following is the only public sector company in the field of life insurance?
A General insurance company
B New India assurance company
C Oriental insurance company
D Life Insurance Corporation of India

Answer: Life Insurance Corporation of India
48 Which of the following terms is NOT related to the insurance sector?
A Indemnity
B Coverage
C Misuse Alert
D Annuity

Answer: Misuse Alert
49 Which of the following is/are the various types of insurance? a) Life insurance b) Health insurance c) Liability insurance
A Only (a)
B Only (a) and (b)
C Only (b) and (c)
D All the three

Answer: All the three
50 The central office of the Life Insurance Corporation of India (LIC) is located at
A Kolkata
B New Delhi
C Chennai
D Mumbai

Answer: Mumbai
51 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.
52 As we know, the Government is paying much attention to “Micro Finance” these days. Which of the following is one of the examples of Micro Finance?
A Insurance for life
B Investment in Mutual Funds
C Self Help Groups
D Letter of Credit

Answer: Self Help Groups
53 Insurance company transfers the insurance which cannot bear by them to which of the following ?
A TPAs
B Bancassurance
C Reinsurance
D Actuaries

Answer: Reinsurance
54 Which of the following is customer of a Reinsurer?
A Insurance Companies
B High Networth Individual
C Licenced Insurance Agents
D NGOs

Answer: Insurance Companies
55 What is the maximum Time in which the insurer should settle a claim when all documents are submitted
A 5 days
B 20 days
C 30 days
D 15 days

Answer: 30 days
56 A insurer advertises through daily news paper . What type of marketing is
A cross selling
B policy selling
C Solicitation of Policy
D Insurance selling

Answer: Solicitation of Policy
57 MWP- If the policy is endorsed under MWP – then the beneficiaries are wife and ?
A ex-wife
B children
C mother
D parents

Answer: children
58 A insurer advertises through daily newspaper . What type of marketing is
A cross selling
B policy selling
C Solicitation of Policy
D Insurance selling

Answer: cross selling
59 General Insurance (Public Sector) Association of India’s HQ is situtated in?
A Telengana
B Mumbai
C Delhi
D Chennai

Answer: Delhi
60 India’s Agricultural Insurer is:
A NABARD
B GIC
C KIshan Bima Sanstha
D AIC

Answer: KIshan Bima Sanstha

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