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INSURANCE AWARENESS MCQs

Total Questions : 92 | Page 4 of 10 pages
Question 31. New India Assurance Co Ltd is a type of?
  1.    Life Insurance Company
  2.    General Insurance Company
  3.    Re-insurance Company
  4.    All of these
 Discuss Question
Answer: Option B. -> General Insurance Company


Life insurance company is one which provides insurance for death. General Insurance company is one which deals with all other types of insurance other than death like vehicle insurance, House Insurance etc. It is also called non-life insurance.


Question 32. IBAI was incorporated as a Company under Section 25 of the Companies Act, 1956. What is the meaning of "B" in IBAI?
  1.    Basel
  2.    Broadcasting
  3.    Brokers
  4.    Board
 Discuss Question
Answer: Option D. -> Board




Question 33. Who is the present CMD of New India Assurance Co Ltd?
  1.    Mohammad Mustafa
  2.    G. Srinivasan
  3.    Arun Tiwari
  4.    Hemant G. Rokade
 Discuss Question
Answer: Option B. -> G. Srinivasan




Question 34. Where is the head office of Agriculture Insurance Company of India Limited (AIC)?
  1.    Hyderabad
  2.    New Delhi
  3.    Kolkata
  4.    Chennai
 Discuss Question
Answer: Option B. -> New Delhi




Question 35. The New India Assurance Co. Ltd. was a subsidiary of which of the following company?
  1.    General Insurance Corporation of India (GIC)
  2.    Life Insurance Corporation of India (LIC)
  3.    The Oriental Insurance Company
  4.    United India Insurance Company
 Discuss Question
Answer: Option A. -> General Insurance Corporation of India (GIC)


Previously it was a subsidiary of the General Insurance Corporation of India (GIC). But when GIC became a re-insurance company as per the IRDA Act 1999, its four primary insurance subsidiaries New India Assurance, United India Insurance, Oriental Insurance and National Insurance got autonomy.


Question 36. In which among the following year National Insurance Company Limited (NICL) was incorporated?
  1.    1906
  2.    1956
  3.    1934
  4.    1919
 Discuss Question
Answer: Option A. -> 1906




Question 37. UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with the element of subsidy from the Government. UHIS stands for-
  1.    Universal Health Insurance Solutions
  2.    Universal Health Insurance Scenario
  3.    Universal Health Insurance Scheme
  4.    Universal Health Insurance System
 Discuss Question
Answer: Option C. -> Universal Health Insurance Scheme




Question 38. __________, who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured.
  1.    Customer
  2.    Cashier
  3.    Broker
  4.    Banker
 Discuss Question
Answer: Option C. -> Broker




Question 39. The written insurance contract that may include all clauses, riders and endorsements. It is called?
  1.    Installment
  2.    Premium
  3.    Policy
  4.    Assets
 Discuss Question
Answer: Option C. -> Policy




Question 40. Agriculture Insurance Company Of India Limited' (AIC was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under-
  1.    Companies Act, 1956
  2.    SEBI Act, 1992
  3.    IRDA Act, 1999
  4.    Reserve Bank of India Act, 1934
 Discuss Question
Answer: Option A. -> Companies Act, 1956




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