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INSURANCE AWARENESS MCQs

Total Questions : 92 | Page 1 of 10 pages
Question 1. A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependants
is called __________
  1.    Hospital Insurance
  2.    Hull Insurance
  3.    Group Insurance
  4.    Identity theft Insurance
 Discuss Question
Answer: Option C. -> Group Insurance


A group insurance policy gives you advantages of standardised coverage and very competitive premium rates.


Question 2. A seller's market in which insurance is expensive and in short supply is termed as _______
  1.    Hard Market
  2.    Soft Market
  3.    Alternative Market
  4.    None of the Above
 Discuss Question
Answer: Option C. -> Alternative Market


A term commonly used in risk financing to refer to one of a number of risk funding techniques is known as Alternative Market.


Question 3. Where is the headquarters of New India Assurance Co Ltd located?
  1.    New Delhi
  2.    Mumbai
  3.    Hyderabad
  4.    Kolkata
 Discuss Question
Answer: Option B. -> Mumbai




Question 4. Coverage against loss through stealing by individuals not in a position of trust is called ________
  1.    Hospital Insurance
  2.    Hull Insurance
  3.    Group Insurance
  4.    Theft Insurance
 Discuss Question
Answer: Option D. -> Theft Insurance




Question 5. An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called ________
  1.    Hard Market
  2.    Soft Market
  3.    Alternative Market
  4.    None of the Above
 Discuss Question
Answer: Option B. -> Soft Market




Question 6. What is the CRISIL rating for New India Assurance Co Ltd located?
  1.    AA/Stable
  2.    AAA/Stable
  3.    AA/Negative
  4.    AAA/Negative
 Discuss Question
Answer: Option B. -> AAA/Stable




Question 7. When was Triton Insurance Company Ltd established?
  1.    1850
  2.    1854
  3.    1857
  4.    1860
 Discuss Question
Answer: Option A. -> 1850




Question 8. In which year New India Assurance Co Ltd nationalized?
  1.    1945
  2.    1947
  3.    1973
  4.    1969
 Discuss Question
Answer: Option C. -> 1973


Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member “ Sir Dorab Tata. Nationalised in 1973 with merger of Indian
companies.


Question 9. Which of the following type of insurance product is/are available in New India Assurance Co Ltd located?
  1.    Personal Insurance
  2.    Commercial Insurance
  3.    Industrial Insurance
  4.    All of these
 Discuss Question
Answer: Option D. -> All of these




Question 10. When was the Indian Mercantile Insurance established?
  1.    1905
  2.    1906
  3.    1907
  4.    1908
 Discuss Question
Answer: Option C. -> 1907




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