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Insurance Awareness Quiz 26

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Insurance Awareness Quiz 26

shape Introduction

What is an Insurance? According to the dictionary and different insurance policies, Insurance is defined as “an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for the payment of a specified premium.” Thus, Insurance is a means of protection from financial loss. Insurance, in short, is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The insurance provider is known as an insurer, insurance company, insurance carrier or underwriter. Insurance Awareness is an important section in several recruitment exams in India, primarily in the insurance sector.
Insurance Awareness Quiz 26 includes Questions and Answers related to the following topics: History of Insurance sectors in India, Insurance Organizations in India, Important Insurance Terms, Insurance Abbreviations & Insurance related information. Insurance Awareness Quiz 26 is extremely important for aspirants of Insurance related recruitment's such as UIIC, OICL, LIC, HFL, AAO, etc.

shape Quiz

1. An insured can claim the compensation only up to the extent of actual loss either from any one insurer or all the insurers, this line is linked with:
    A. Principle of Subrogation B. Principle of Indemnity C. Principle of Contribution D. None of These

Answer: Option C
2. IRDA was constituted on:
    A. 14 April, 2001 B. 19 April, 2000 C. 20 April, 2002 D. None of These

Answer: Option B
3. The main feature of the National Agriculture Insurance Scheme is to insure which of the following:
    A. Animal who are used in agricultural activities B. Land of the Farmers C. Crop of The Farmers D. None of These

Answer: Option C
4. Moving from a small town to a major metro can increase your risk for auto accidents and also increase your ________:
    A. Tax B. Interest C. Life insurance Premium D. None of These

Answer: Option C
5. I.I.I. stands for:
    A. Indian Insurance Institute B. Insurance Institute of India C. Insurance in India Institute D. None of These
    Answer: Option B
1. Which of the following is not an insurance scheme launched by Government of India:
    A. Varsha Bima Yojna B. Janashree Bima Yojna C. Shiksha Sahyog Yojna D. None of These

Answer: Option A
2. 'Zindagi ke Saath bhi, Zindagi ke baad bhi' is the punch line of the advertisement of which of the following organization:
    A. General Insurance Corporation B. ICICI Prudential Life Insurance C. Life Insurance Corporation D. None of These

Answer: Option C
3. IIB stands for:
    A. Intellectual Insurance Board B. International Insurance Board C. Insurance Information Bureau D. None of These

Answer: Option C
4. AIC stands for:
    A. Assurance Investment Corporation B. Agriculture Insurance Company of India Limited C. Agriculture Investment Company of India Limited D. None of These

Answer: Option B
5. India's Agriculture Insurer is:
    A. NABARD B. AIC C. GIC D. None of These

Answer: Option B
1. AIC was incorporated under the Indian Companies Act, 1956 on ________:
    A. 26 December, 2002 B. 25 December, 2002 C. 20 December, 2002 D. None of These

Answer: Option C
2. IIS stands for:
    A. Indian Insurance Society B. International Insurance Society C. International Investment Society D. None of These

Answer: Option B
3. Which of these is related to Prime Minister Jan Dhan Yojna (PMJDY):
    A. HDFC Ergo B. IFFCO C. TATA AIG D. None of These

Answer: Option A
4. Headquarter of International Association of Insurance Supervisors is located at:
    A. London B. New York C. BASEL D. None of These

Answer: Option C
5. Which General Insurance Company completed its 50 years in 1997:
    A. UICL B. OICL C. NICL D. None of These

Answer: Option B

Financial Awareness - Related Information
Insurance Awareness Practice Quiz
Insurance Awareness Practice Set 1
Insurance Awareness Practice Set 2
Book for Insurance Awareness
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