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INSURANCE AWARENESS MCQs

Total Questions : 92 | Page 9 of 10 pages
Question 81. _____________ is the maximum amount an insurance company will pay if an insured asset is deemed a total loss.
  1.    Insurance value
  2.    Actual value
  3.    Replacement value
  4.    Guaranteed Replacement Cost
 Discuss Question
Answer: Option A. -> Insurance value


Define insurance value is the maximum amount an insurance company will pay if an insured asset is deemed a total loss.


Question 82. What does the letter 'S' denote in the term IFSC?
  1.    Subscriber
  2.    State
  3.    System
  4.    Source
 Discuss Question
Answer: Option C. -> System


The Indian Financial System Code (IFSC CodE. is an alphanumeric code that uniquely identifies a bank-branch participating in the Real-Time Gross Settlement (RTGS) and the National Electronic Funds Transfer (NEFT) Systems.


Question 83. Which was an oldest insurance company, found in 1906:
  1.    LIC
  2.    National Insurance Company
  3.    Agriculture Insurance Company of India
  4.    United India Insurance Company
 Discuss Question
Answer: Option B. -> National Insurance Company




Question 84. Insurance is listed in the Constitution of India in ______scheduled as Union List subject:
  1.    Eighth
  2.    Ninth
  3.    Seventh
  4.    Tenth
 Discuss Question
Answer: Option C. -> Seventh




Question 85. Headquarter of LIC is situated at:
  1.    Kolkata
  2.    Delhi
  3.    Mumbai
  4.    Hyderabad
 Discuss Question
Answer: Option C. -> Mumbai




Question 86. Oldest (1818) life insurance company is:
  1.    Postal Life Insurance Company
  2.    Max Life Insurance Company
  3.    Oriental Life Insurance Company
  4.    Bharat Life Insurance Company
 Discuss Question
Answer: Option C. -> Oriental Life Insurance Company




Question 87. Life Insurance Corporation was found on:
  1.    1 April, 1955
  2.    6 December, 1960
  3.    4 September, 1956
  4.    1 September, 1956
 Discuss Question
Answer: Option D. -> 1 September, 1956




Question 88. In which year New India Assurance Co Ltd was found?
  1.    1918
  2.    1818
  3.    1919
  4.    1945
 Discuss Question
Answer: Option C. -> 1919


Founded by Sir Dorabji Tata in 1919


Question 89. Chairman of Life Insurance Corporation of India is:
  1.    Arundhati Bhattacharya
  2.    U K Sinha
  3.    S K Roy
  4.    Vimal Khanna
 Discuss Question
Answer: Option C. -> S K Roy




Question 90. Insurance is legislated by:
  1.    Insurance Company
  2.    State Government
  3.    Central Government
  4.    Government of India
 Discuss Question
Answer: Option C. -> Central Government




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