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Insurance Awareness Quiz - Part 5

Published on Wednesday, August 19, 2015
Insurance Awareness Quiz for today :-
insurance quiz

Q1. IGIE stands for:
a) International General Insurance Enactment
b) Institute of Global Insurance Education
c) Institute of General Insurance Education
d) None of These

Q2. Chartered Member of IGIE is:
a) Insurance Institute of India
b) General Insurance Corporation
c) Insurance Regulatory and Development Authority 
d) None of These

Q3. Agriculture Insurance Company of India was founded in:
a) 2005
b)  002
c) 2001
d) None of These

Q4. Slogan of Agriculture Insurance Company of India is:
a) Beema, Jo Bachayega Apki Fashal aur Ghar
b) Fasal Apki, Khyaal Hmara
c) Sampann Bharat ki Pehchaan, Beemit Phasal Khushaal Kisan
d) None of These

Q5. SSS stands for:
a) Save Salary Scheme
b) Salary Savings Scheme
c) Sure Savings Scheme
d) None of These

Q6. General Insurance Corporation of India (GIC Re) was approved as "Indian Reinsurer" on:
a) 1 November, 2000
b) 3 November, 2000
c) 9 November, 2000
d) None of These

Q7. Oriental Insurance Company was established on:
a) 15 August, 1947
b) 12 September, 1947
c) 18 November, 1947
d) None of These

Q8. Insurable Interest can be created:
a) By Common Law
b) By Statute
c) By Contract
d) All of Above
d) None of These

Q9. Which of the following principles of law prevents an insured from making a profit out of his loss:
a) Insurable Interest
b) Caveat Emptor
c) Indemnity
d) None of These

Q10. "Stepping into shoes of another" is concerned with:
a) Principle of Contribution
b) Principle of Subrogation
c) Principle of Causa-Proxima
d) None of These

Q11. The first Life Insurance Company was:
a) Oriental Life Insurance Company
b) Life Insurance Corporation
c) Indian Insurance Corporation 
d) None of These

Q12. To regulate the insurance business, The Indian Life Assurance Companies Act was enacted in:
a) 1915
b) 1912
c) 1919
d) None of These

Q13. 245 Indian and foreign insurers and provident societies are taken over by the central government and were nationalized in:
a) 1947
b) 1956
c) 1958
d) None of These

Q14. Insurance Act, 1938 was constituted on:
a) 15 January, 1938
b) 26 February, 1938
c) 17 February, 1938
d) None of These

Q15. A premium is:
a) Extra Charges
b) An insurance payment
c) Both of Above
d) None of These

Q16. A Co pay is:
a) Paid by your insurer
b) A flat fee for a covered service
c) An extra charges by insured
d) None of These

Q17. An out of pocket maximum is:
a) A limit on your doctor's charges
b) The most you will pay each year 
c) The most your insurance will pay
d) None of these

Q18. Your insurer may not cover certain tests or procedures unless you first get:
a) Pre-Certification
b) Pre - Authorization
c) Prioritization 
d) None of These

Q19. EOB means:
a) Explanation of Benefits
b) Early Option Billing 
c) Extra Oversight Board
d) None of These

Q20. A Health insurance market place is a:
a) Place to buy insurance stock
b)Web site to buy health plan
c) Company to regulate insurance 
d) None of These

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Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

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