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Insurance Awareness Quiz - Part 8

Published on Monday, August 24, 2015
Insurance Awareness Quiz for today :-

Q1. "Yogakshemam Vahamyaham" is tagline of which of the following insurance companies:
a) Tata AIA Life Insurance Company Limited 
b) SBI Life Insurance Company Limited 
c) Life Insurance Corporation of India
d) None of These

Q2. 'Insurance Ombudsmen' were introduced in:
a) 1996
b) 1998
c) 2000
d) None of These

Q3. Insurance Ombudsmen were introduced for:
a) Protection of Insurer interests and grievance redressal 
b) Protection of consumer interests and grievance redressal
c) Both of Above
d) None of These

Q4. In 1818, ______was started:
a) United India Insurance Company
b) Oriental Life Insurance Company
c) National Insurance Company 
d) None of These

Q5. FDI  limit in insurance sector is:
a) 43%
b) 49%
c) 50%
d) None of These

Q6. FII stands for:
a) Fixed Investment in Insurance
b) Foreign Institutional Investors
c) Foreing Investment Institutions 
d) None of These

Q7. FDI was introduced in India way back in _____:
a) 1991
b) 1995
c) 1992
d) None of These

Q8. In 1991, FDI was introduced, that time Finance Minister was:
a) Manmohan Singh
b) Amar Dharamlingam Anathpliam 
c) U.K. Sinha
d) None of These

Q9. The policy assigning creditor as beneficiary for insurance on a debtor thereby remitting balance of payment to creditor upon death of debtor is known as:
a) Creditor Claim Life Insurance
b) Outstanding Life Insurance
c) Credit Life Insurance
d) None of These

Q10. A refund of a portion of the premium paid by the insured from insurer surplus is called:
a) Interest
b) Dividend
c) Bonus 
d) None of These

Q11. ERISA stands for:
a) Employee Retirement Income Security Act 
b) Employee Re-Insurance Security Act
c) Employee Retrenchment Income Security Act
d) None of These

Q12. Employee Retirement Income Security Act was launched in:
a) 1975
b) 1974
c) 1976
d) None of These

Q13. GAAP refers to:
a) Generally All Accepted Principles 
b) Generally Accepted Accounting Principles
c) Generally Acquired Accounting Principls
d) None of These

Q14. HMO stands for:
a) Health Making Organization
b) Health Maintenance Organization
c) Heavy Maintenance Organization 
d) None of These

Q15. A medical group plan that provides physician, hospital and clinical services to participating members in exchange for periodic flat fee is linked with:
a) MMO
b) HMO
c) BMO
d) None of These

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