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Practice Insurance Awareness Questions and Answers

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 ____.
An endorsement added to an insurance policy, or clause within a policy, that provides additional coverage for risks other than those in a basis policy is t...
An extension of endowment plans is known as which policy?
When a demand is made by insured for payment of the benefits is called as?
The coinsurance is specified by which of the following term?
In relation to insurance sector, what is the full form of EP?
Any such transaction, in which any property is transferred in the name of one person and payment is made by another person is known as?
Shagun gift is an insurance policy. It has been launched by_________.
In which date the President of India gave his assent to the Insurance Regulatory and Development Authority Bill?
In which type of insurance, schemes are offered by insurance companies to provide certain classes of individuals, the benefit of insurance coverage at mode...
Purchase price (premium) for the immediate annuity is to be paid in how many installments?
Under which type of plans, the sum assured is paid at the end of the term as maturity or on the death of the insured during the term of the policy?
Insurance is, thus, a financial tool specially created to reduce the financial impact of unforeseen events and to create______.
Which of the following is one who offers claims services on behalf of the insurer?
Which of the following term is used when the loss is caused by two or more causes acting simultaneously or one after the other?
Which of the following person is basically the representative of the customer and can sell the policies of more than one insurer?
Which one of the principles of insurance denotes a positive duty of the person seeking insurance to voluntarily disclose accurately and fully?
Which type of policy is offered by an insurer for covering jewellery?
What are the documents to be kept in the vehicle while driving in public places?
As per Rule 141 of Central Motor Vehicle Rules 1989, a certificate of Insurance is to be issued only in Form _____.
The premium of insurance of your two-wheeler depends on its IDV. What does IDV denotes?

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