LIC AAO Insurance Awareness Questions 2019 (Day – 52)

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) What is maximum FDI limit in insurance sector at present?

a) 76%

b) 49%

c) 26%

d) 51%

e) 100%

2) Mortality Charge is the amount charged _____________ by the insurer

a) Every 3 months

b) Every year

c) Every 18 months

d) Every 6 months

e) None of these

3) A professional dealing with the assessment and management of risk for insurance policies is known as

a) Assignor

b) Insurer

c) Actuary

d) Administrators

e) None of these

4)  _______ is the age at which the receipt of pension starts in an insurance-cum-pension plan.

a) Surrender age

b) Starting age

c) Vesting age

d) Maturity age

e) Fidility Age

5) ‘With You Always’ is the tagline of which among the following companies?

a) SBI Life Insurance Company Limited

b) Birla Sun Life Insurance Company Limited

c) Aviva India Life Insurance

d) Tata AIG General Insurance Company

e) Max Life Insurance Company Limited

6) The Amount you have to pay out of pocket for expenses before the insurance company will cover the remaining costs is called ____________

a) Deductible

b) Cancellation

c) Collectable

d) Renewable

e) None of these

7) The Complaint to Insurance Ombudsman must be registered within ____ year(s)

a) 4

b) 3

c) 2

d) 1

e) 6 months

8) Insurance Policy which is provided as an additional layer of security to those who are at risk for being sued for damages to other people’s property or injuries caused to others in an accident is known as ______

a) Internet Liability Insurance

b) Ransom Insurance

c) Cloud Insurance

d) Umbrella Insurance

e) None of these

9) ______________ is the method by which firms evaluate potential losses and take action to reduce or eliminate such threats.

a) Risk Retention

b) Risk Management

c) Risk control

d) Risk Transfer

e) Risk Avoidance

10) Which among the following is the tagline of the Religare Health Insurance Company Limited?

a) Values that bind

b) You never understand yourself

c) Never underestimate your health

d) We know your health needs

e) None of the above

Answers :

1) Answer: b)

The FDI (Foreign Direct Investment) policy, at present, allows 49 per cent foreign investment in the insurance sector, which includes insurance intermediaries.

2) Answer: b)

Mortality Charge is the amount charged every year by the insurer to provide the life cover to the policyholder on the life of the Life Insured. It can otherwise be called the Cost of Insurance.

3) Answer: c)

An actuary is a professional dealing with the assessment and management of risk for financial investments, insurance policies, and any other ventures involving a measure of uncertainty.

4) Answer: c)

The age at which you start receiving pension in an insurance-cum-pension plan is known as vesting age.

5) Answer: d)

With You Always is the tagline of Tata AIG General Insurance Company. Tata AIG General Insurance Company Limited is a joint venture between the Tata Group and the American International Group (AIG). It commenced operations in 2001. It is headquartered in Mumbai.

6) Answer: a)

The Amount you have to pay out of pocket for expenses before the insurance company will cover the remaining costs is called Deductible.

7) Answer: d)

We must file the complaint with the ombudsman within a year of the rejection of our claim by the insurer.

8) Answer: d)

Umbrella insurance is extra liability insurance. It is designed to help protect you from major claims and lawsuits and as a result it helps protect your assets and your future

9) Answer: c)

Risk control is the method by which firms evaluate potential losses and take action to reduce or eliminate such threats.

10) Answer: a)

The tagline of the company is ‘Values that bind’. The Religare Health Insurance Company Limited is a joint venture between Religare enterprise limited, Corporation Bank and Union Bank of India. It came into existence in July 2012.

 

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