Insurance Awareness Quiz for NICL AO Mains 2017

Dear Readers,


Just a few days are left for NICL AO Exam. It is time to pace up your preparation of Insurance Awareness for NICL AO Mains Exam. These Insurance questions will also help you in preparing for other upcoming Banking or Insurance recruitment examination.

Q1. ____________, who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured. 
(a) Cashier
(b) Broker
(c) Agent
(d) Customer
(e) Banker

Q2. In which among the following year National Insurance Company Limited (NICL) was incorporated?
(a) 1956
(b) 1949
(c) 1934
(d) 1919
(e) 1906

Q3. Agriculture Insurance Company Of India Limited’ (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under- 
(a) Companies Act, 1956 
(b) IRDA Act, 1999
(c) Reserve Bank of India Act, 1934
(d) SEBI Act, 1992
(e) None of the given options is true

Q4. The written insurance contract that may include all clauses, riders and endorsements. It is called?
(a) Liabilities
(b) Premium
(c) Installment
(d) Policy
(e) Assets

Q5. UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with the element of subsidy from the Government. UHIS stands for-
(a) Universal Health Insurance System
(b) Universal Health Insurance Service
(c) Universal Health Insurance Scheme
(d) Universal Health Insurance Solutions
(e) Universal Health Insurance Scenario

Q6. Agriculture Insurance Company of India Limited (AIC) was incorporated in which year?
(a) 20th December 1999
(b) 20th December 2007
(c) 20th December 1992
(d) 20th December 2004
(e) 20th December 2002

Q7. IBAI was incorporated as a Company under Section 25 of the Companies Act, 1956. What is the meaning of "B" in IBAI?
(a) Basel
(b) Broadcasting
(c) Board
(d) Brokers
(e) Banking 

Q8. Where is the head office of Agriculture Insurance Company of India Limited (AIC)?
(a) Hyderabad
(b) Mumbai
(c) New Delhi
(d) Kolkata
(e) Chennai

Q9. Nippon Life Insurance has signed definitive agreements to invest Rs 2,265 crore (US$ 332.32 million) in order to increase its stake in Reliance Life Insurance from 26 per cent to 49 per cent. Nippon Life Insurance based in-
(a) Germany
(b) Japan
(c) Canada
(d) USA
(e) France

Q10. ___________ insurance gives protection to the vehicle owner against damages to his/her vehicle and pays for any Third Party Liability determined as per law against the owner of the vehicle. 
(a) Motor Insurance
(b) Travel Insurance
(c) Group Insurance
(d) Life Insurance
(e) Health Insurance

Q11. Which among the following companies has not contributed towards the share capital of Agriculture Insurance Company of India Limited (AIC)? 
(a) Insurance Regulatory and Development Authority of India (IRDAI)
(b) General Insurance Corporation of India (GIC)
(c) National Bank for Agriculture and Rural Development (NABARD)
(d) Oriental Insurance Company Limited (OICL)
(e) National Insurance Company Limited (NICL)

Q12. Where is the head office of National Insurance Company Limited (NICL)?
(a) Hyderabad
(b) Kolkata
(c) New Delhi
(d) Mumbai
(e) Chennai

Q13. What is the authorised capital of National Insurance Company Limited (NICL)?
(a) Rs.1500 crore 
(b) Rs.100 crore 
(c) Rs.200 crore
(d) Rs.500 crore 
(e) Rs.1000 crore 

Q14. IRDAI has allowed insurers to invest up to ___________ in Additional Tier 1 (AT1) bonds, that are issued by banks to augment their tier 1 capital, in order to expand the pool of eligible investors for the banks.
(a) 25 per cent 
(b) 30 per cent 
(c) 20 per cent 
(d) 10 per cent
(e) 15 per cent 

Q15. Who is the present Chairman of IRDAI?
(a) Harsh Kumar Bhanwala
(b) Kshatrapati Shivaji
(c) Urjit Patel
(d) Ajay Tyagi
(e) T S Vijayan

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