Practice Insurance Awareness Questions and Answers

• 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?
• Which among these is not a type of General Insurance plans? I. Motor Insurance II. Marine Insurance III. Health Insurance IV. Commercial Insurance Cho...
• Who determines the third-party insurance premium of the two-wheelers?
• Consider the following statement: I. NCB is given to the insured and not to the insured vehicle. II. On transfer of the vehicle, the insurance policy can...
• As per current norms in India, what is the maximum limit of No Claim Bonus (NCB) in percentage?
• Which of the following is the benefit accrued to an insured for not making any claims during the previous policy period?
•  A motor policy is usually valid for a period of ____ year and has to be renewed before the due date.
• There is unlimited coverage to Third parties injury and Third party property damage is covered up to a sum of Rs ______.
• Third Party Liability Premium rates are laid down by _______.
• Which of the following insurance is mandatory for all vehicles plying on public roads in India?
• Which of the following are authorized only to maintain the policies in electronic form and provide a service record of all insurance policies?
• How much Foreign direct investment (FDI) is allowed in Insurance Repository?
• Which of the following is a central index server that offers de-duplication services and acts as a KYC repository?
• Which of the following is a policy document which is an evident of insurance contract issued by an insurer digitally signed in accordance with the applicab...
• IRDAI has introduced the concept of insurance repository in the year_____.
• Which of the following committees recommended the introduction of the Rural Postal Life Insurance?
• Which of the following categories of people will NOT be covered under Postal Life Insurance?
• Under Pradhan Mantri Jeevan Jyoti Bima Yojana, the life coverage available until the age of ______.
• Under the Sampoorna Gram Bima Yojana, what is the minimum number of households to be covered in one village?
• Which of the following plans is NOT offered by Postal Life Insurance?
•  Which of the following CANNOT be undertaken as a function by the India Post Payment Bank?