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. Sun Life Financial Inc plans to increase its stake from 26 per cent to 49 per cent in Birla Sun Life Insurance Co Ltd, a joint venture with Aditya Birla Nuvo Ltd, through buying of shares worth Rs 1,664 crore (US$ 244.14 million). Sun Life Financial Inc based in-
(a) USA
(b) Germany
(c) Japan
(d) Canada
(e) France
Q2. The term _______________ relates to a type of insurance that essentially covers your medical expenses.
(a) Health Insurance
(b) Life Insurance
(c) Travel Insurance
(d) Group Insurance
(e) Motor Insurance
Q3. The General insurance industry was nationalised in _________ and 107 insurers were grouped and amalgamated into four Companies.
(a) 1949
(b) 1956
(c) 1972
(d) 1982
(e) 1988
Q4. Where is the head office of United India Insurance Company Limited?
(a) Pune
(b) Kolkata
(c) Mumbai
(d) New Delhi
(e) Chennai
Q5. Who is the present Chairman cum Managing Director of Oriental Insurance Company Ltd?
(a) VK Sharma
(b) AV Girija Kumar
(c) G Srinivasan
(d) Alamelu T Lakshmanachari
(e) None of the given options is true
Q6. In which among the following year United India Insurance Company Limited was incorporated?
(a) 1919
(b) 1972
(c) 1956
(d) 1949
(e) 1938
Q7. Insurance firm AIA Group Ltd has decided to increase its stake in Tata AIA Life Insurance Co Ltd, a joint venture owned by Tata Sons Ltd and AIA Group from 26 per cent to _________ per cent.
(a) 51 percent
(b) 100 percent
(c) 74 percent
(d) 49 percent
(e) None of the given options is true
Q8. Insurance of ___________ means insurance of buildings, machinery, stocks etc against Fire and Allied Perils, Burglary Risks and so on.
(a) wealth
(b) demand
(c) property
(d) capital
(e) general
Q9. General Insurance Corporation of India (GIC Re) is a wholly owned company of-
(a) Finance Ministry
(b) Government of India
(c) IRDA
(d) LIC
(e) RBI
Q10. What is the authorized capital of General Insurance Corporation of India (GIC)?
(a) Rs.1000 crore
(b) Rs.500 crore
(c) Rs.2000 crore
(d) Rs.100 crore
(e) Rs.5000 crore
Q11. In which among the following year the New India Assurance Company Limited (NIACL) was founded?
(a) 1919
(b) 1973
(c) 1949
(d) 1956
(e) 1988
Q12. Who is the present Chairman of Life Insurance Corporation of India (LIC)?
(a) Urjit R Patel
(b) VK Sharma
(c) MS Sahoo
(d) Alice G. Vaidyan
(e) AV Girija Kumar
Q13. Which among the following public sector banks has announced that BNP Paribas Cardiff is keen to increase its stake from 26 per cent to 36 per cent?
(a) ICICI Bank
(b) Indian Bank
(c) State Bank of India
(d) Punjab National Bank
(e) Bank of Baroda
Q14. The Government of __________ has launched the Atal-AmritAbhiyan health insurance scheme, which would offer comprehensive coverage for six disease groups to the below-poverty line (BPL) and above poverty line (APL) families, with annual income below Rs 500,000 (US$ 7,500).
(a) Uttar Pradesh
(b) Assam
(c) West Bengal
(d) Bihar
(e) Uttarakhand
Q15. The insurance company representative who sells policies on behalf of the insurer, is called?
(a) Agent
(b) Broker
(c) Applicant
(d) Compulsory
(e) None of the given options is true
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