Practice Insurance Awareness Questions and Answers

• Which of the term is the used when a policy has lapsed due to non-payment of premium?
• What is the abbreviation of ADB in insurance?
• The Life Insurance Companies Act was passed in which year?
• The Life Insurance Corporation of India (LIC) came into existence in which year?
• The central office of the Life Insurance Corporation of India (LIC) is located at?
• The General Insurance Business in India was nationalized in which year?
• How many public sector life insurance companies are functional in India?
• In 1818, India’s first insurance company Oriental Life Insurance Company was established in which city?
• The Insurance Act has __________sections and ______ schedules.
• After which of the following year the Government of India started publishing returns of Insurance Companies in India?
• Insurance is listed in which schedule of the Indian constitution ?
• In which year, the Actuaries Act was passed by Indian government?
• The Indian insurance industry is governed by which of the following act ?
• In which year all shares of Oriental Insurance Company Ltd. held by the General Insurance Corporation of India were transferred to the Central government?
• Oriental Insurance Company Ltd. was a subsidiary of Life Insurance Corporation of India from 1956 to_______.
• The General Insurance Corporation of India was incorporated as a company in which year?
• GIC was ceased to be a holding company of its subsidiaries in which of the following year?
• What is the new name of Religare Health Insurance Company Limited?
• The ownership of the four erstwhile subsidiary companies and also of the General Insurance Corporation of India was vested with?
• General Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force from?
• After a process of mergers among Indian insurance companies, how many companies were left as fully owned subsidiary companies of GIC?
• IRDAI has the power to frame regulations under which of the following Section of the Insurance Act, 1938?
• What percent of shareholding is under National Bank for Agriculture and Rural Development (NABARD) in Agriculture Insurance Company of India Limited?
• Which of the following public sector company have the highest shareholding in Agriculture Insurance Company of India Limited (AIC)?
• The establishment of Agriculture Insurance Company of India Limited (AIC) was announced in which General Budget speech?
• Agriculture Insurance Company of India Limited was incorporated with an authorised share capital of INR ______ billion.
• The IRDA opened up the market in August 2000 with the invitation for application for registrations. Foreign companies were allowed ownership of up to _____...
• In India, insurance has a deep-rooted history. It finds mention in the writings of?
•  In which of the following year the Insurance Amendment Act abolished Principal Agencies?
•  General insurance public sector association (GIPSA) is an association of four public sector general insurance companies?
• Which of the following institution was setup with the objective of promoting exports from the country by providing credit risk insurance and related servic...
•  Which of the following government increase the foreign direct investment (FDI) limit in the insurance sector to 74% from 49%?
• The Institute of Insurance and Risk Management (IRM) was founded in which of the following year?
• The Insurance Institute of India (Regd.) formerly known as?
• Which of the following institution was established in the year 1955, for the purpose of promoting Insurance Education & Training in the country?
• Once an insurance company has paid up to the limit, it will pay no more during that year is known as ____________?
• Policy that can be cancelled or have the premium s raised by the insurer on a specific anniversary date, subject to certain reasons written into the policy...
• A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as ________.
• A term policy that can be converted to permanent coverage rather than expiring on a specific date is called _________.
• Percentage of each premium rupee that goes to insurers expenses including overhead, marketing and commissions is called ____.