Insurance Based Questions for NIACL Assistant Mains | 28th September 2018

Dear Aspirants,

Insurance Based Questions for NIACL Assistant Mains

Just few days are left for NIACL Assistant Mains Exam. It is time to pace up your preparations of Insurance Awareness for NIACL Assistant  Mains and LIC HFL Exam. These Insurance questions will also help you in preparing for other upcoming Banking or Insurance recruitment examinations.


Q1. State-owned IPPB and Private Life Insurer _____________________ has entered into a strategic partnership to provide life insurance solutions, especially at the doorstep of every household in the country.
Max Newyork Life Insurance
Bharti AXA Life Insurance Company
IDBI Federal Life Insurance
Bajaj Allianz Life Insurance Co Ltd
Aviva Life Insurance Company
Solution:
State-owned India Post Payments Bank (IPPB) and Private Life Insurer Bajaj Allianz Life Insurance Co Ltd (BALIC) entered into a strategic partnership to provide life insurance solutions, especially at the doorstep of every household in the country.

Q2. The ESIC has approved a new scheme- Atal Bimit Vyakti Kalyan Yojna for Insured Persons covered under the Employees’ State Insurance Act. What is the full form of ESIC?
Employees’ State Insurance Corporation
Employees’ State Insurance Company
Employees’ State Insurance Council
Employees’ State Investment Corporation
Employees’ Security Insurance Corporation
Solution:
The Employees’ State Insurance Corporation (ESIC) has approved a new scheme- Atal Bimit Vyakti Kalyan Yojna for Insured Persons covered under the Employees’ State Insurance Act. This scheme is a relief payable in cash directly to their Bank Account in case of unemployment and while they search for new engagement.

Q3. Who has taken over as the Chairman and Managing Director of National Insurance Company Limited (NICL) recently?
Ranjan Gogoi
Prashant Kumar
Tajinder Mukherjee
Kamlesh Nilkanth Vyas
Vibha Padalkar
Solution:
Tajinder Mukherjee has taken over as the Chairman and Managing Director of National Insurance Company Limited (NICL). Prior to joining NIC, she was posted as General Manager and Chief Underwriting Officer of New India Assurance.

Q4. The government has incorporated provision of penalties for States and Insurance Companies for the delay in settlement of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY). According to the new guidelines, the farmers will be paid ___________ interest by insurance companies for the delay in settlement claims beyond two months of prescribed cut-off date.
05%
10%
20%
15%
12%
Solution:
The government has incorporated provision of penalties for States and Insurance Companies for the delay in settlement of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY). According to the new guidelines, the farmers will be paid 12% interest by insurance companies for the delay in settlement claims beyond two months of prescribed cut-off date. State Governments will have to pay 12% interest for the delay in the release of the State share of subsidy beyond three months of prescribed cut-off date submission of requisition by insurance companies.

Q5. HDFC Life appointed __________________________ as its new managing director and CEO for a period of three years.
Ranjan Gogoi
Vibha Padalkar
Tajinder Mukherjee
Kamlesh Nilkanth Vyas
Prashant Kumar
Solution:
HDFC Life appointed Vibha Padalkar as its new managing director and CEO for a period of three years. The position had fallen vacant after Amitabh Chaudhry resigned to head Axis Bank. The terms of appointment are subject to approval by the shareholders and the Insurance Regulatory and Development Authority of India (IRDAI). Prior to her elevation, Padalkar was the chief financial officer (CFO) and executive director at the insurer.

Q6. The Government has decided to make the PMJDY an open-ended scheme and added more incentives to encourage people to open bank accounts. The Finance Minister Arun Jaitley stated that the overdraft facility has been doubled from Rs. 5,000 to __________________ under the Yojana.
Rs. 8,000
Rs. 20,000
Rs. 7,000
Rs. 15,000
Rs. 10,000
Solution:
The Government has decided to make the Pradhan Mantri Jan Dhan Yojana (PMJDY) an open-ended scheme and added more incentives to encourage people to open bank accounts. The Finance Minister Arun Jaitley stated that the overdraft facility has been doubled from Rs. 5,000 to Rs. 10,000 under the Yojana.

Q7. HDFC ERGO, India's third-largest non-life insurance provider in the private sector, announced the launch of 'E@Secure', a Cyber Insurance Policy for individuals. HDFC ERGO based in-
Ahmedabad
Chennai
New Delhi
Mumbai
Pune
Solution:
HDFC ERGO, India's third-largest non-life insurance provider in the private sector, announced the launch of 'E@Secure', a Cyber Insurance Policy for individuals. This policy aims at providing comprehensive protection to individuals and their families against any cyber-attacks, cyber frauds or digital threats that could lead to a financial loss and or reputational loss.

Q8. The Union Cabinet has approved the signing of an MoU between IRDAI and the Federal Deposit Insurance Corporation. The Federal Deposit Insurance Corporation based in-
Germany
France
USA
Japan
Australia
Solution:
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between Insurance Regulatory and Development Authority of India (IRDAI) and the Federal Deposit Insurance Corporation. The Federal Deposit Insurance Corporation is a United States government corporation providing deposit insurance to depositors in U.S. commercial banks and savings institutions.

Q9. NABARD All India Financial Inclusion Survey (NAFIS), conducted by National Bank for Agriculture and Rural Development (NABARD), was released by Dr. Rajiv Kumar, Vice Chairman, NITI Aayog in New Delhi. About __________ of agricultural households and _____________ of non-agricultural households reported to have been covered under one or the other type of insurance.
46% and 45%
26% and 25%
06% and 05%
16% and 15%
36% and 35%
Solution:
NABARD All India Financial Inclusion Survey (NAFIS), conducted by National Bank for Agriculture and Rural Development (NABARD), was released by Dr. Rajiv Kumar, Vice Chairman, NITI Aayog in New Delhi. The report revealed that farm households register higher income than the families solely dependent on non-farm livelihood activities in rural areas. About 26% of agricultural households and 25% of non-agricultural households reported to have been covered under one or the other type of insurance.

Q10. Bharti Axa Life Insurance and __________________________ entered into an alliance to offer the ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (PMJJBY), a government-backed life insurance scheme.
Airtel Payments Bank
ICICI Bank
State Bank of India
India Post Payments Bank
United Bank of India
Solution:
Bharti Axa Life Insurance and Airtel Payments Bank entered into an alliance to offer the ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’ (PMJJBY), a government-backed life insurance scheme. The alliance will leverage Airtel Payments Bank’s vast network to reach deep rural pockets and serve the under-insured. With this, Airtel Payments Bank also becomes the first payments bank in India to offer the Government of India-backed life insurance scheme.

Q11. Prime Minister Narendra Modi has launched Ayushman Bharat, world's largest government-funded healthcare scheme in Jharkhand's capital Ranchi. It will offer a benefit cover of ___________________ per family per year.
Rs 2 lakh
Rs 7 lakh
Rs 5 lakh
Rs 10 lakh
Rs 15 akh
Solution:
Prime Minister Narendra Modi launched Ayushman Bharat, world's largest government-funded healthcare scheme in Jharkhand's capital Ranchi. The Centre's flagship scheme has been renamed as PM Jan Arogya Yojana (PMJAY). The scheme will become operational from September 25 on the birth anniversary of Pandit Deendayal Upadhyay. Ayushman Bharat-National Health Protection Scheme (AB-NHPS) will have a defined benefit cover of Rs 5 lakh per family (on a family floater basis) per year for secondary and tertiary care hospitalisation. It will offer a benefit cover of Rs 5 lakh per family per year. It will subsume the existing Rashtriya Swasthya Bima Yojana (RSBY), launched in 2008 by the UPA government.

Q12. Bajaj Allianz General Insurance has entered into a bancassurance deal with ________________ Bank and this corporate agency agreement will enable distribution of Bajaj Allianz General Insurance products through the bank’s network of 2,129 branches across the country.
Vijaya Bank
Bank of Baroda
ICICI Bank
Axis Bank
State Bank of India
Solution:
Bajaj Allianz General Insurance has entered into a bancassurance deal with Vijaya Bank. This corporate agency agreement will enable distribution of Bajaj Allianz General Insurance products through the bank’s network of 2,129 branches across the country.

Q13. Public sector non-life insurance firm United India Insurance Company announced the appointment of S Gopakumar as its Director and General Manager with immediate effect. United India Insurance Company based in-
Hyderabad
New Delhi
Mumbai
Kolkata
Chennai
Solution:
Public sector non-life insurance firm United India Insurance Company announced the appointment of S Gopakumar as its Director and General Manager with immediate effect. Prior to taking up the new role, Gopakumar was serving GIC Housing Finance Ltd as its Managing Director and Chief Executive Officer. United India Insurance Company headquarters in Chennai, Tamil Nadu.

Q14. Insurance regulator IRDAI has constituted a 16-member committee to examine motor third party insurance pricing aspects and make recommendations on the premium rates for 2019-20. Who has been appointed as the Chairman of the committee?
Keshari Nath Tripathi
PJ Joseph
Ranjana Prakash Desai
Amitava Roy
Vijay Pingale
Solution:
Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 16-member committee to examine motor third party insurance pricing aspects and make recommendations on the premium rates for 2019-20. IRDAI Member P.J. Joseph has been appointed as the Chairman of the committee.

Q15. The New India Assurance Company Limited based in-
Hyderabad
New Delhi
Kolkata
Mumbai
Chennai
Solution:
The New India Assurance Co. Ltd., based in Mumbai, Maharashtra is a public sector general insurance company of India.

               




You may also like to read:

    

Send Your Success Stories of SBI Clerk at Blogger@adda247.com




    Print Friendly and PDF

    No comments