LIC A.A.O QUIZ

1.    The Life Insurance Corporation of India does not have its foreign units in which of the following countries?
(1) UK                               (2) Sri Lanka
(3) Fiji                                (4) Afghanistan

2.    Who is the Present chairman of the Life Insurance Corporation of India?
(1) Arvind Mayaram                     (2) Sushbohan Sarker
(3) Thomas Mathew                     (4) DK Mehrotra

3.    Insurance is meant to:
(1) Prevent specified events
(2) Prevent damage to assets from specified events
(3) Compensate for losses from specified events
(4) Rebuild the assets lost because of specified events

4.    The amount of Insurance depends upon:
(1) The peril                                  
(2) The risk
(3) Neither the peril nor the risk
(4) Both the peril and the risk

5.    The amount payable under a life insurance policy depends on:
(1) The income of the insured person at the time of the claim
(2) The income of the insured person when he took the insurance
(3) The amount of the sum assured
(5) None of the above

6.    Which of the following event are insurable in a life insurance policy?
(1) The child to be born is not a male child
(2) The child, when born, has physical deformities
(3) Neither of the above situations
(4) Both the above situations

7.    In a life insurance contract, the beneficiary may be the:
(1) The Policy holder
(2) The life insured
(3) The depends of the life insured
(4) All the above

8.    Which one of these principles does not apply in the case of a life insurance contract?
(1) The principle of indemnity
(2) The principle of good faith
(3) The principle of insurable interest
(4) The principle of large numbers

9.    Reinsurance is the name given to:
(1) An individual taking insurance for the second time
(2) An insurer placing insurance with another insurer
(3) Both the above situations
(4) Neither the above situations

10.  Life insurance is better than other avenues of savings in respect of:
(1) Marketability                (2) Liquidity
(3) Transferability              (4) All of the above


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