LIC AAO Insurance Awareness Questions 2019 (Day – 46)

Dear Aspirants, LIC AAO is one of the most important exam in the competitive examination. LIC AAO mains exam consists of four sections i.e. Reasoning ability, Data Analysis & Interpretation, General knowledge & Current affairs and Insurance & Financial Market Awareness. LIC AAO Insurance Awareness & Financial Market Awareness section comprises of 30 questions. LIC AAO Insurance Awareness Questions 2019 play an important role in boosting up the score in mains examination and also helps in the interview. Here we are providing a new series of LIC AAO Insurance Awareness Questions 2019. Aspirants can make use of this LIC AAO Insurance Awareness Questions 2019, to improve score in the Insurance & Financial Market Awareness section.

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1) Where is the headquarters of LIC?

a) Kolkata

b) New Delhi

c) Chennai

d) Mumbai

e) None of these

2) In Corporate Hedging, which of the following types of risks can be covered?

a) Liquidity Risk

b) Currency risk

c) Credit Risk

d) Transaction Risk

e) None of the above

3) In which of the following LICHFL (LIC Housing Finance Limited) overseas office is/are located-

a) Dubai

b) Kuwait

c) Yemen

d) Both a) and b)

e) All the above

4) The ratio, which describes the percentage of amount that would be charged as administrative, management, advertising, and all other expense by dividing these by average value of asset ?

a) Expense ratio

b) Operating ratio

c) Debt to equity ratio

d) Current ratio

e) Coverage ratio

5) ‘QIP’ is, at its core, a way for listed companies to raise capital, without having to submit legal paperwork to market regulators, majorly used in India and other southeast Asian countries. What does ‘QIP’ stand for?

a) Quality Investor Protocol

b) Qualified Institutional Placement

c) Qualified International Programme

d) Qualified Institutional Programme

e) Quality International Placement

6) “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 ?

a) Death coverage

b) Life insurance

c) Savings for future

d) Provident fund

e) None of these

7) A type of insurance that is designed to provide insurance cover to couples or partners is known as?

a) Group Life Insurance

b) Joint Life Insurance

c) Couple Life Insurance

d) Partner Life Insurance

e) None is correct

8) Which was the oldest insurance company founded in 1906 ?

a) LIC

b) Agriculture Insurance Company of India

c) National Insurance Company

d) United India Insurance Comp

e) None of These

9) Who is the Present Interim Chairman of the Life Insurance Corporation of India ?

a) HemantBhargav

b) SushbohanSarker

c) Thomas Mathew

d) V.K.Sharma

e) S K Roy

10) What is called the insurance cover that is linked to credit activities and is the goal of protecting credit?

a) Credit file

b) Worth file

c) Assets

d) Arbitration

e) None of the above

Answers:

1) Answer: d)

Life Insurance Corporation (India) (LIC) is an Indian state-owned insurance group and investment company headquartered in Mumbai. Note:- To boost the life insurance, particularly in rural areas, Life Insurance Corporation of India (LIC) was formed by an Act of Parliament (LIC Act, 1956) in Mumbai on September 1,1956.It is the largest insurance company in India with an estimated asset value of Rs. 1560482 crore

2) Answer: b)

The purpose of currency swaps is to hedge against risk exposure associated with exchange rate fluctuations, ensure receipt of foreign monies and to achieve better lending rates. Companies that have exposure to foreign markets can often hedge their risk with currency swap forward contracts.

3) Answer: d)

LICHFL (LIC Housing Finance Limited) overseas office are in Dubai and Kuwait.

4) Answer: a)

It’s the expense ratio which describes relationship between operating expenses and average asset value. This particular ratio is important to consider when choosing a fund, as they can significantly affect returns.

5) Answer: b)

Qualified institutional placement (QIP) is a capital-raising tool, primarily used in India and other parts of southern Asia, whereby a listed company can issue equity shares, fully and partly convertible debentures, or any securities other than warrants which are convertible to equity shares to a Qualified Institutional Buyer (QIB).

6) Answer: b)

“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 Life insurance.

7) Answer: b)

Joint Life Insurance is designed to provide insurance cover to couples or partners. In case of death of one insurer, the partner gets the sum assured. Whereas, Group life insurance is offered to a group like employees of a company.

8) Answer: c)

The oldest existing insurance company in India is the National Insurance Company (NICL), which was founded in 1906, and is still in business. The company headquartered at Kolkata was nationalized in 1972. The Government of India issued an Ordinance on 19 January 1956 nationalizing the Life Insurance sector and Life Insurance Corporation came into existence in the same year.

9) Answer: a)

The government on Jan 02, 2019 appointed Life Insurance Corporation’s (LIC) senior-most Managing Director HemantBhargava as the insurer’s interim chairman, in place of V K Sharma.

10) Answer: a)

Credit file is the insurance cover that is linked to credit activities and is the goal of protecting credit.

 

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