General Awareness Quiz on Insurance Company- 10th December 2020

Q1.Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called as-
(a)EMI
(b)Installment
(c)Service
(d)Interest
(e)Premium

Q2.Which Insurance company has been recognised amongst the Top 75 Most Valuable Indian Brands 2020?
(a)Bharti AXA Life
(b)Tata AIA Life
(c)ICICI Prudential Life
(d)Bajaj Allianz Life
(e)HDFC Life

Q3.___________ won the ‘Best Fraud Intelligence’ award at the 5th Annual Insurance India Summit & Awards 2020-
(a)Bharti AXA Life
(b)Tata AIA Life
(c)ICICI Prudential Life
(d)Bajaj Allianz Life
(e)HDFC Life

Q4.Which is a/are types of Insurance?
(a)Life Insurance
(b)Motor insurance
(c)Health insurance
(d)Travel insurance
(e)All of the above

Q5.Which is Not a type of Life Insurance Policy?
(a)Term Plan
(b)Senior Citizen Plan
(c)Endowment Plan
(d)Unit Linked Insurance Plans
(e)Whole Life Insurance

Q6.No Claim Bonus refers to-
(a)A discount that is offered to policyholders for every non claim year of a health or a motor insurance company
(b)A document used by a company’s accounts payable department containing the supporting documents for an invoice
(c)A negotiable instrument that contains an unconditional order to the bank to pay a certain sum mentioned in the instrument
(d)A valuation method used to estimate the value of an investment based on its expected future cash flows
(e)All of the above

Q7.”Aapatkale Rakshisyami” is the Slogan of which Insurance Company?
(a)Life Insurance Corporation of India
(b)General Insurance Corporation of India
(c)Oriental Insurance Company
(d)United India Insurance Company
(e)New India Assurance Company

Q8.Actuarial science is associated to?
(a)Banking
(b)ATMs
(c)Insurance
(d)Space Technology
(e)All of the above

Q9.HDFC Life Insurance Company, one of the top insurance companies in India is a joint venture between HDFC Ltd., India’s leading housing finance institution and –
(a)Mitsui Sumitomo Insurance Company
(b)AIA Group Limited
(c)Bharti Enterprises
(d)Standard Life Aberdeen
(e)BNP Paribas Cardif

Q10.Aviva Life Insurance Company is a joint venture between Aviva plc, a British Assurance Company and-
(a)Reliance Jio
(b)TCS
(c)Dabur Group
(d)Bharti Enterprises
(e)Mitsui Sumitomo Insurance Company

Q11.Aditya Birla Sun Life Insurance Company, founded in the year _________ is a subsidiary of Aditya Birla Capital Limited-
(a)1995
(b)1996
(c)1997
(d)1998
(e)2000

Q12.”Sar Utha ke Jiyo” is the tag line of –
(a)ICICI Prudential Life Insurance
(b)HDFC Life Insurance
(c)Life Insurance Corporation of India
(d)Tata AIA Life Insurance Company
(e)Bharti AXA Life Insurance Company

Solutions

S1.Ans.(e)
Sol.Insurance companies collect a fixed amount from their customers at a fixed interval of time. This amount is called Premium.

S2.Ans.(d)
Sol.Bajaj Allianz Life has been recognised amongst the Top 75 Most Valuable Indian Brands 2020, as per BrandZ report released by Kantar.

S2.Ans.(d)
Sol.Bajaj Allianz Life won the ‘Best Fraud Intelligence’ award at the 5th Annual Insurance India Summit & Awards 2020.

S4.Ans.(e)
Sol.Broadly, there are 8 types of insurance, namely:
Life Insurance
Motor insurance
Health insurance
Travel insurance
Property insurance
Mobile insurance
Cycle insurance
Bite-size insurance

S5.Ans.(b)
Sol.There are primarily seven different types of insurance policies when it comes to life insurance. These are-
Term Plan
Endowment Plan
Unit Linked Insurance Plans
Whole Life Insurance
Child’s Plan
Money-Back
Retirement Plan

S6.Ans.(a)
Sol.No Claim Bonus refers to a discount that is offered to policyholders for every non claim year of a health or a motor insurance company.

S7.Ans.(b)
Sol.”Aapatkale Rakshisyami” is the Slogan of General Insurance Corporation of India.

S8.Ans.(c)
Sol.Actuarial science is associated to Insurance.

S9.Ans.(d)
Sol.HDFC Life Insurance Company, one of the top insurance companies in India is a joint venture between HDFC Ltd, leading housing finance institution in India and Standard Life Aberdeen, a global investment company.

S10.Ans.(c)
Sol.Aviva Life Insurance Company is a joint venture between Aviva plc, a British Assurance Company and Dabur Group, an Indian conglomerate.

S11.Ans.(e)
Sol.Aditya Birla Sun Life Insurance Company, founded in the year 2000 is a subsidiary of Aditya Birla Capital Limited.

S12.Ans.(b)
Sol.”Sar Utha ke Jiyo” is the tag line of HDFC Life Insurance.

Practice with Crash Course and Online Test Series for IBPS Mains 2020:

Click Here to Register for Bank Exams 2020 Preparation Material