GK for Exams of LIC and Other Insurance Companies

GK for Exams of LIC and Other Insurance Companies

GK for LIC Assistant Administrative Officer Exam

1. Which of the following types of companies/organizations issue ‘ULIP’?

(1) Insurance companies

(2) Banks

(3) NABARD

(4) RBI

(5) All of these

Ans. (1)

2. Insurance business in India is regulated by which of the following authorities?

(1) NFCG

(2) IRDA

(3) CII

(4) FICCI

(5) All of these

Ans. (2)

3. Which amongst the following is/was NOT an insurance company functioning in India?

(1) ICICI Prudential

(2) ING Vysya

(3) ICICI Lombard

(4) New India Assurance Company

(5) National Securities Depository Ltd

Ans. (5)

4. Which of the following is the only public sector company in the field of life insurance?

(1) General Insurance Company

(2) New India Assurance Company.

(3) Oriental Insurance Company

(4) Sahara Life Insurance

(5) Life Insurance Corporation of India

Ans. (5)

5. “A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against” is technically known as

(U Death coverage

(2) Life Insurance

(3) Savings for future

(4) Provident Fund

(5) None of these

Ans. (2)

6. As per the news published in various newspapers, Life Insurance policies may become paper- less n the near future. This means

(1) LIC will not insure any person here after as it has already reached its peak

(2) LIC will not ask for any documents from a person who wishes to purchase an insurance policy

(3) All policy related documents and policy certificates will henceforth be available in electronic form and not in their present physical form and not in their present physical form

(4) LIC henceforth will not entertain any claim or complaint in written form or on paper. Things should be in electronic mode only

(5) None of these

Ans. (3)

7. In insurance policies always find, a date which is  date  of Maturity”. What does it mean?

(1) This is the date on which the policy was sold to the customer/person insured.

(2) This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/ her.

(3) This is the date on which the contract between the person and insurance company will come to an end.

(4) The date on which the Insurance company makes the final payment to the insured person which is normally fifteen days after the “payment due date”.

(5) None of these

Ans. (3)

8. As we know, the Government is paying much attention to “Micro Finance” these days. Which of the following is one of the examples of Micro Finance?

(1) Insurance for life

(2) Investment in Mutual Funds

(3) Self Help Groups

(4) Letter of Credit

(5) All of these

Ans. (3)

9. Which of the following insurance plan is not launched by LIC?

(1) Jeevan Chhaya

(2) Life Mahalife Gold Plan

(3) Child Career Plan

(4) Child Future Plan

(5) Jeevan Saral

Ans. (2)

10. Who amongst the following is the author of the book “The White Tiger”?

(1) Arundhati Roy

(2) V. S. Naipaul

(3) Kiran Dai

(4) Vikram Seth

(5) Aravind Adiga

Ans. (5)

11. Which of the following is the best description of what insurance is? (Many times companies also communicate the same to the person interested in getting an insurance policy)

(1) Insurance = Collective bearing of risk

(2) Insurance = Paying for other’s mistakes

(3) Insurance = Taking from A’ to pay B’

(4) Insurance = Paying for something which will never happen

(5) All of these

Ans. (1)

12. Which of the following organisations/agencies frame the Monetary and Credit Polity which is followed by all banks in India?

(1) Indian Bank’s Association

(2) Reserve Bank of India

(3) Securities & Exchange Board of India

(4) Government of India

(5) None of these

Ans. (2)

13. Which of the following terms is used in the game of Cricket?

(1) Penalty stroke

(2) Knock out

(3) Bully

(4) Checkmate

(5) Silly point

Ans. (5)

14. Which of the following terms is NOT used in the world of finance banking and Insurance?

(1)Devaluation

(2) Amnesty

(3) Hard currency

(4) Preference share

(5) Sinking fund

Ans. (2)

15. Which of the following awards is given for excellence in the field ‘of Sports?

(1) Gnanpith Award

(2) Bharat Ratna

(3) Arjuna Award

(4) Kalidas Samman

(5) None of these

Ans. (3)