LIC ADO Insurance Awareness Questions 2019 (Day – 92)

Dear Aspirants, LIC ADO is one of the most important exam in the competitive examination. LIC ADO mains exam consists of three sections i.e. Reasoning ability and Numerical Ability, General knowledge & Current affairs and Insurance & Financial Market Awareness. LIC ADO Insurance Awareness & Financial Market Awareness section comprises of 50 questions. LIC ADO 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 ADO Insurance Awareness Questions 2019. Aspirants can make use of this LIC ADO Insurance Awareness Questions 2019, to improve score in the Insurance & Financial Market Awareness section.

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LIC ADO Insurance Awareness Questions 2019 (Day – 91)

maximum of 10 points
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1) Which of the following companies, recently bought back nonconvertible debentures (NCDs) worth an estimated Rs 3,000 crore from LIC?

a) Aditya Birla Group

b) Reliance Industries‎

c) Tata Sons

d) Piramal Group

e) ITC Limited

2) Which of the following banks has entered a bancassurance corporate agency agreement with Tata AIG?

a) SBI

b) IDBI Bank

c) HDFC Bank

d) RBL Bank

e) Yes Bank

3) A general insurer has to appoint a surveyor within ______ hours of the receipt of intimation from the insured.

a) 24

b) 36

c) 54

d) 72

e) 96

4) Currently, LIC Housing Finance is the only HFC to have the highest leverage ratio of ______ times of Net Owned Funds (NOF).

a) 8

b) 10

c) 12

d) 14

e) None of the above

5) IRDAI has imposed a fine of Rs nine lakh on state-owned ___________ for violating certain procedures.

a) United India Insurance Co Ltd

b) New India Assurance Company Limited

c) Oriental Insurance Company Limited

d) National Insurance Company Limited

e) None of these

6) _______ is set to acquire 51.2 per cent stake in Apollo Munich Health Insurance.

a) Industrial Finance Corporation of India

b) Export Credit Guarantee Corporation of India

c) Berkshire Hathaway

d) Housing Development Finance Corporation

e) Zurich Insurance Group

7) CarDekho group, recently entered into motor and health insurance sector with the launch of __________ an online insurance platform.

a) HealthDekho

b) Carsurance

c) PolicyDekho

d) None of these

e) InsuranceDekho

8) Under Ayushman Bharat _________ per family per year is insured at all hospitals.

a) Rs 1 lakh

b) Rs 2 lakhs

c) Rs 5 lakhs

d) Rs 2.5 lakhs

e) Rs 10 lakhs

9) Pradhan Mantri Vaya Vandana Yojana has implemented through which of the following organisations?

a) Scheduled Commercial Banks

b) Post office

c) LIC

d) Regional Rural Banks

e) All the above

10) Which of the following terms is/are used to define allocation of a loss between all of the insurance companies that insure a piece of property.

a) Apportionment

b) Concealment

c) Deferment

d) Endorsement

e) Reinstatement

Answers:

1) Answer: c)

Tata Sons has bought back nonconvertible debentures (NCDs) worth an estimated Rs 3,000 crore from the country’s largest insurer, Life Insurance Corp of India (LIC). It was done after objections raised by the insurer over the hurried conversion into a private company, said an executive close to the development.

2) Answer: b)

IDBI Bank has entered a bancassurance corporate agency agreement with Tata AIG. This is to provide the general insurer’s products to the bank’s two crore customers through its 1,850-plus branches.

3) Answer: d)

A general insurer has to appoint a surveyor within 72 hours of the receipt of intimation from the insured and also the surveyor shall not take more than six months from the date of his appointment to furnish his report.

4) Answer: d)

LIC Housing Finance is the only HFC to have the highest leverage ratio of 14 times of NOF. NHB also said that capital adequacy ratio for HFCs has been increased to 13% by March 2020, 14% by March 2021 and 15% by March 2022. Tier I capital should not be less than 10% versus 6% currently.

5) Answer: a)

Insurance Regulatory and Development Authority has imposed a fine of Rs nine lakh on state-owned United India Insurance Co Ltd for violating certain procedures. If UIIC feels aggrieved by the order, an appeal may be filed with the Securities Appellate Tribunal as per the provisions of Section 110 of the Insurance Act, 1938.

6) Answer: d)

Housing Development Finance Corporation (HDFC), recently announced that it would be acquiring 51.2 per cent stake in Apollo Munich Health Insurance and would be later merging it with its general insurance arm HDFC Ergo. HDFC will pay about ₹73.2 per share to Apollo Hospitals for the acquisition.

7) Answer: e)

The CarDekho Group has entered the motor and health insurance sector with the launch of InsuranceDekho, an online insurance platform. It has a tie-up with more than 20 health and motor insurance companies. InsuranceDekho offers easy, instant and hassle-free insurance experience to its customers.

8) Answer: c)

Ayushman Bharat or Pradhan Mantri Jan Arogya Yojana (PM-JAY) is the government-sponsored health insurance scheme that provides insurance up to Rs 5 lakhs per family per year at all government and private hospitals.

9) Answer: c)

Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above. LIC of India has been given the sole privilege to operate this scheme.

10) Answer: a)

An apportionment is the allocation of a loss between all of the insurance companies that insure a piece of property. This allocation is used to determine a percentage of liability for each insurer.

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