Insurance Awareness Quiz with Answers

Insurance Awareness Questions with answers for upcoming insurance exams :-

insurance quiz

Q1. Limit of FDI in Insurance sector :
a) 47%
b) 50%
c) 49%
d) 51%
e) None of These


Q2. Largest  Life Insurance Company in India is:
a) The New India Assurance Company Limited
b)  Life Insurance Corporation of India (LIC)
c) United India Insurance Company Limited 
d) National Insurance Company Limited
e) None of These


Q3. Which was oldest insurance company, found in 1906:
a) LIC
b) National Insurance Company
c) Agriculture Insurance Company of India
d) United India Insurance Comp
e) None of These


Q4. Life Insurance Corporation was found on:
a) 1 April, 1955
b) 6 Decemberr, 1960
c) 4 September, 1956
d) 1 September, 1956
e) None of These


Q5. Headquarter of LIC is situated at:
a) Kolkata
b) Delhi
c) Mumbai
d) Hyderabad
e) None of These


Q6. Oldest (1818) life insurance company is:
a) Postal Life Insurance Company
b) Max Life Insurance Company
c) Oriental Life Insurance Company
d) Bharat Life Insurance Company
e) None of These


Q7. Insurance is listed in the constitution of India in ______scheduled as Union List subject:
a) Eighth  
b) Ninth
c) Seventh
d) Tenth
e) None of These


Q8. Insurance is legislated by:
a) Insurance Company
b) State Government
c) Central Government
d) Government of India
e) None of These

Q9. Chairman of Life Insurance Corporation of India is:
a) Arundhati Bhattacharya
b) U K Sinha
c) S K Roy
d) Vimal Khanna
e) None of These

Q11. Which of the following is not the principal of insurance:
a) Utmost Good Faith
b) Principle of Contribution
c) Maximization of Profit
d) Causa Proxima
e) None of These


Q12. "Stepping into shoes of other" related with:
a) Principle of CAUSA PROXIMA
b) Principle of Subrogation
c) Principle of Contribution
d) Principle of Indemnity 
e) None of These


Q13. A person must be benefited by that thing which he wants to be insured is called:
a) Interest
b) Insurable Interest 
c) Causa Proxima
d) Contribution of That person
e) None of These


Q14. Supervision and Development of Insurance in India is in the hands of:
a) SEBI
b) Insurance Regulatory Development Authority
c) Life Insurance Corporation of India
d) Central Government
e) None of These


Q15. IRDA was constituted by which of the following committee's recommendations:
a) Kumarmangalam Committee
b) Malhotra Committee
c) Singh Committee
d) Sahota Committee
e) None of These
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