G.K. For LIC A.A.O.

1.       In which of the following years the Government of India nationalized the general insurance business under the General Insurance Business (Nationalized) Act?
(1) 1970                                        (2) 1972
(3) 1976                                        (4) 1973
(5) 1981

2.       The small payment or series of regular payments made by the insured are:
(1) Interest                                 (2) Sum assured
(3) Premium                               (4) Either 1 or 2 is correct
(5) None of these

3.       One of the role of insurance in the development of economy is:
(1) To reduce inflation in the economy
(2) To give the financial support to the insurer
(3) Both 1 or 2 are correct
(4) Either 1 or 2
(5) None of these

4.       Suicide clause is applicable if the life insured committed suicide within one year from the:
(1) Date of Commencement of Policy
(2) Date of Policy revival
(3) Both 1 and 2
(4) Either 1 or 2
(5) None of these

5.       In the absence of utmost good faith the insurance contract becomes:
(1) Null and Void
(2) Void –ab-initio
(3) Wagering Contract
(4) Allium Fact per se
(5) None of these

6.       To avoid a contract after 2 years from the date of acceptance of risk, it is necessary for the insurer to establish that:
(1) The prosper was aware of the correct facts
(2) The statement by the proposer was inaccurate or false and material
(3) Both 1 & 2
(4) Either 1 & 2
(5) None of these

7.       The premium regarding permanent assurance whole life policies can be made payable:
(1) For a certain number of year
(2) Till survival
(3) Both 1 & 2
(4) Either 1 & 2
(5) None of these

8.       The Premium can be paid in lump sum of:
(1) Term insurance
(2) Market linked plan
3) Both 1 & 2
(4) Either 1 & 2
(5) None of these

9.       In case of Joint life policy after death of the spouse the future payment of premium is:
(1) Continued                            (2) Waived
(3) Forfeited                              (4) Deposited
(5) None of these

10.   Special investigation is necessary if death is occur within two years from:
(1) the date of commencement
(2) the date of revival
(3) either of the two
 (4) the date of maturity
(5) None of these


Answers:
1
2
6
3
2
3
7
3
3
1
8
3
4
3
9
2
5
1
10
3