Banking Awareness Trivia - 20 Important Questions (Part - 2)

Published on Wednesday, August 03, 2016
banking trivia
Ques 1.
The concept of Insurance involves a transfer of
(a) Liability
(b) Needs
(c) ownership
(d) Risk
(e) All of the above

Ques 2.
Rakesh recently bought a health insurance policy and a personal accident policy. What main section (s) of the insurance market do these products normally fall into ?
(a) Life insurance in both cases.
(b) Life insurance for health and non-life insurance fro personal accident
(c) Non-life insurance in both cases
(d)Non-life insurance for health and life insurance for personal accident
(e) All of the above

Ques 3.
The main role of an underwriter in a non-life  insurance company is normally to 
(a) asses the acceptability  of particular risks .
(b) certify a loss when claims are submitted
(c) design the structure of the products to be offered
(d)negotiate with the industry regulator 
(e) None of the above

Ques 4.
Which of the following statement related to general Insurance Corporation of India is NOT correct ?
(a) It is the sole  reinsurance company in the Indian Insurance Market
(b) The entire general insurance business in India was nationalized by the  Government of India through the General Insurance Business of 1981 
(c) It has been active in the Indian Insurance Market with over three decades
(d) It is registered office and headquarters  is Mumbai
(e) None of the above

Ques 5.
Which of the following statements is/are  correct  regarding the Insurance Development Authority ?
(a) It aims at the protection of the Interests of the policy holders
(b) As laid down in section 14 of IRDA Act, 1999 it has powers of undertaking Inspection of conducting enquirers  and investigation into all companies of insurance business
(c) It is an authority of State Government
(d) Both (a) and (b)  are correct
(e) All (a), (b) and (c) are correct

Ques 6.
Which of the following is NOT one among the various types of insurance ?
(a) Life  Insurance
(b) health  Insurance
(c) General  Insurance
(d)  liability Insurance
(e) None of the above

Ques 7.
The committee which formed to evaluate Indian types of Insurance ?
(a) Narashimam  Committee
(b) Chakrovarty Commitee
(c) Raja Chelliah Committee
(d) Malhotra committee
(e) Goipuria Committee

Ques 8.
Private sector and foreign company were allowed in Indian insurance sector in the year ?
(a) 1990
(b) 1991
(c) 1996
(d) 1999
(e) 2000

Ques 9.
In which year the life Insurance companies Act and  the provident Fund act were passed to regular the insurance business ?
(a) 1912
(b) 1925
(c) 1937
(d) 1947
(e) None of the above

Ques 10.
Health Insurance Policy introduced by the government for the people living below poverty line is :
(a) Integrated Health Policy
(b) Cradle Care
(c) Medi Cliam
(d) Jan-Arogya
(e) Swasthya Bima

Ques 11.
General Insurance Company was nationalized in the year :
(a) 1969
(b) 1981
(c) 1972
(d) 1978
(e) 1999

Ques 12.
Premium In motor insurance is fixed by :
(a) IRDA
(b) Reserve Bank of India
(c) LIC
(d) Tariff advisory Committee
(e) All of the above

Ques 13.
Income Tax concession in general insurance is given under section :
(a) 80 D
(b) 80 C
(c) 80 CC
(d) 81 D
(e) None of the above

Ques 14.
Motor insurance originated in:
(a) USA
(b) UK
(c) Germany
(d) France
(e) India

Ques 15.
Reinurance' refers to the practice by insurance companies of :
(a) Buying insurance from another firm
(b) Insuring the same risk twice
(c) issuing new policies
(d) Renewing existing policies
(e) Terminating existing policies

Ques 16.
yogakshemam  Vohamayham" , the slogan of LIC  is derived from which of the following ancient texts ?
(a) The rig Veda
(b) The Mahabharat
(c) The Bhagabad Gita
(d) The Manusmriti
(e) None of the above

Ques 17.
"yogakshemam Vahamyaham', the slogan of LIC is written in its logo in :
(a) Khorosti
(b) devnagri
(c) Pali
(d) Magadhi
(e) None of the above

Ques 18.
the Insurance Regulatory development Authority  was established by the Recommendation of :
(a) malhotra Commitee
(b) Narashiman Committee
(c) kelkar Commitee
(d) Rangarjan Committee
(e) Planning Commission of India

Ques 19.
IRDA has headquartered at :
(a) Delhi
(b) Mumbai
(c) kolkata
(d) Hyderabad
(e) Chennai

Ques 20.
Which of the following is NOT a private sector insurance company in India ?
(a) United India Insurance Co Ltd
(b) Continental Insurance Services
(c) ICICI Prudential
(d) SBI General Insurance
(e) IDBI Federal Life Insurance

Download Banking Awareness Guide PDF here

Can I help you?

ramandeep singh

Hey I am Ramandeep Singh. I am determined to help students preparing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

Join my class here
    Follow me:
Close Menu
Close Menu