LIC ADO Insurance Awareness Questions 2019 (Day – 84)

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.

Check Here for LIC ADO Mains Mock Test Series 2019

[WpProQuiz 6660]

 

1) Who will sell both casualty insurance and life insurance?

a) Composite insurer

b) Global insurer

c) Lifetime insurer

d) Normal insurer

e) None of these

2) The insurance act was borrowed from which country?

a) America

b) China

c) Britain

d) Japan

e) None of these

3) Life Insurance Companies cannot reject insurance claim after how many years?

a) 1

b) 2

c) 3

d) 4

e) None of these

4) _______ is /are the monopoly of General Insurance Company.

a) Crop Insurance

b) General Insurance

c) Floater Insurance

d) Life Insurance

e) None of these

5) Name the insurance company, which has formed a specialist subsidiary Agricultural Insurance Corporation (AIC)?

a) The Oriental Insurance Company

b) United India Insurance

c) New India Assurance

d) General Insurance Corporation

e) None of these

6) Name the biggest non-life insurer in the entire Afro-Asia region ?

a) New India Assurance

b) United India Insurance

c) ICICI Lombard

d) HDFC ERGO General Insurance Company

e) None of these

7) The headquarters of General Insurers Public Sector Association of India (GIPSA) is situated in

a) Chennai

b) Bangalore

c) Mumbai

d) New Delhi

e) None of these

8) Insurance is listed in which schedule of the Indian constitution?

a) 6th Schedule

b) 7th Schedule

c) 2nd Schedule

d) 8th Schedule

e) None of these

9) The head office of Insurance Institute of India is in

a) New Delhi

b) Bangalore

c) Mumbai

d) Chennai

e) None of these

10) What percent of share is held by government in National Insurance Company Ltd.?

a) 50%

b) 74%

c) 100%

d) 49%

e) 25%

Answers :

1) Answer: a)

Composite insurer refers to an insurance company which sells both casualty insurance and life insurance against damage to household contents, automobiles, and travel plans.

2) Answer: c)

The Insurance Act, 1938 is a law originally passed in 1938 in British India to regulate the insurance sector.

3) Answer: c)

No policy of life insurance shall be called in question on any ground whatsoever after the expiry of three years from the date of the policy

4) Answer: a)

In India Crop insurance is the monopoly of General Insurance Company

5) Answer: d)

The General Insurance Corporation (GIC) of India has formed a specialist subsidiary, Agricultural Insurance Corporation (AIC) in order to provide a company/institutional focus for this class of business.

6) Answer: a)

New India Assurance is the biggest non-life insurer in the entire Afro-Asia region except Japan. New India Assurance is the first ever Indian general insurance company to reach Rs. 18371 Cr. gross premium.

7) Answer: d)

The headquarters of General Insurers Public Sector Association of India (GIPSA) is situated in New Delhi.

8) Answer: b)

Insurance is listed in the 7th schedule of the Indian constitution.

9) Answer: c)

The Insurance Institute of India is an insurance education society of professionals established in 1955 in Mumbai for the purpose of imparting insurance education to persons engaged or interested in insurance. The institute conducts examinations at various levels.

10) Answer: c)

National Insurance Company Ltd. is wholly owned by government. Share of government in National Insurance Company Ltd. is 100%.National Insurance Company Ltd was Nationalized in 1972.It was first incorporated on 5th December 1906 with its headquarter in Kolkata. After Nationalization of National Insurance Company Ltd in 1972 it was incorporated in General Insurance Corporation of India. Under General Insurance Business Amendment Act of 2002 it National Insurance Company Ltd was de-linked from General Insurance Corporation of India.

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