Insurance MCQ

Test your knowledge with important Insurance MCQ and their applications. These MCQs are beneficial for competitive exams too. Explore 30+ more Insurance MCQs on Bissoy. Bissoy App

• Which of the below forms first part of a standard insurance policy document?
  ক

  Policy schedule

  খ

  Standard provisions

  গ

  Specific policy provisions

  ঘ

  Claim procedure
• When an applicant is seeking license for the first time, he / she is supposed to undergo _________of practical training (from an approved institution) in life insurance.
  ক

  25 hours

  খ

  50 hours

  গ

  75 hours

  ঘ

  100 hours
• Where was the Universal Life Policy introduced first?
  ক

  USA

  খ

  Great Britain

  গ

  Germany

  ঘ

  France
• Investment in ULIPs is related to which section of the Income Tax Act?
  ক

  58C

  খ

  65B

  গ

  78A

  ঘ

  80C
• Which of the following is a combination of insurance as well as an investment?
  ক

  Money back policy

  খ

  Endowment plan

  গ

  Unit Link Insurance Plan

  ঘ

  Mutual Funds
• What does the letter 'S' denote in the term IFSC?
  ক

  Subscriber

  খ

  State

  গ

  System

  ঘ

  Source
• In pursuance of which one of the following was the General Insurance Corporation of India was formed?
  ক

  General Insurance Business (Nationalization) Act, 1972

  খ

  Insurance Act, 1938

  গ

  Insurance Amendment Act, 2002

  ঘ

  IRDA Act 1999
• Which one of the following is the special drawing rights given by the International Monetary Fund to its member countries?
  ক

  Cold money

  খ

  Hot money

  গ

  Paper gold

  ঘ

  None of the three
• Which one of the following does not belong to regulatory bodies in India?
  ক

  FMC

  খ

  IRDA

  গ

  PFRDA

  ঘ

  SEBI
• Which of the following is not a part of India's Money Market?
  ক

  Banks

  খ

  Bill Markets

  গ

  Call Money Market

  ঘ

  Indian Gold Council
• What is the expanded form of the term ALM used in the banking sector?
  ক

  Asset Liability Maintenance

  খ

  Asset Liability Management

  গ

  Asset Liability Manipulation

  ঘ

  Asset Liability Maximisation
• Which of the following is not a public sector bank in India?
  ক

  Andhra Bank

  খ

  Federal Bank

  গ

  IDBI Bank

  ঘ

  Vijaya Bank
• Which bank is the sponsor of Prathama Gramin Bank?
  ক

  Bank of Baroda

  খ

  Indian Bank

  গ

  Punjab National Bank

  ঘ

  Syndicate Bank
• What are true about IMF?
  ক

  It's headquarter is situated at Washington, D.C

  খ

  It works to foster economic stability and global growth by providing policy, advice and financing to members

  গ

  It negotiates conditions on lending and loans under their policy

  ঘ

  It oversees the fixed exchange rate arrangements between countries

  ঙ

  All of these
• Which of the following organization decides Repo Rate?
  ক

  SEBI

  খ

  IMF

  গ

  AMFI

  ঘ

  RBI
• Fiscal policy is related with which of the following?
  ক

  Public Revenue and Expenditure

  খ

  Education for All

  গ

  Import and Export

  ঘ

  Import and Export
• Which of the following statements are true about Co-operative Banks in India?
  ক

  It has a three-tier set-up

  খ

  State Co-operative Banks does not have access to RBI

  গ

  It is an urban oriented Bank

  ঘ

  It functions on sound business principles
• Which of the following statements are true about NABARD?
  ক

  It is a development bank in the sector of Regional Rural Banks in India

  খ

  It provides and regulates credits in the rural area

  গ

  It gives assistance for the promotion and development of rural sectors, mainly agriculture

  ঘ

  It finances rural crafts

  ঙ

  All of these.
• In which city the head office of Corporation Bank is situated?
  ক

  Bengaluru

  খ

  Mumbai

  গ

  Mangalore

  ঘ

  Kolkata
• Which bank has started as a private shareholders bank, mostly by European shareholders?
  ক

  Bank of India

  খ

  Bank of Baroda

  গ

  Dena Bank

  ঘ

  Imperial Bank of India
• Which was the first Indian bank started solely with Indian Capital?
  ক

  Punjab National Bank

  খ

  Andhra Bank

  গ

  Indian Overseas Bank

  ঘ

  Syndicate Bank
• Which is the first Indian Commercial Bank that was fully owned and managed by Indians?
  ক

  State Bank of India

  খ

  Allahabad Bank

  গ

  Central Bank of India

  ঘ

  Canara Bank
• What is the time limit set for an insurer by IRDA Regulations for settling non-early claims from date of receipt of all documents.
  ক

  5 days

  খ

  10 days

  গ

  15 days

  ঘ

  30 days
• What is the time limit set for an insurer by IRDA Regulations for calling for documents from the date of receipt of claim intimation?
  ক

  5 days

  খ

  10 days

  গ

  15 days

  ঘ

  30 days
• Which is a death claim?
  ক

  Early claim

  খ

  Non-early claim

  গ

  Both A & B

  ঘ

  None of the above
• Maturity claim is payable when _________
  ক

  When the insured survives the first 5 years

  খ

  When the insured dies during policy term

  গ

  When the insured is diagnosed with a critical illness

  ঘ

  When the insured survives policy term
• When a death claim is payable?
  ক

  If a policyholder dies after maturity of a policy

  খ

  If a policyholder dies during the term of policy

  গ

  If a policyholder dies after surrendering a policy

  ঘ

  If insured dies after Foreclosure of a policy
• In a Unit Linked plan what is the death claim payable?
  ক

  Sum insured

  খ

  Sum insured less survival benefits paid already

  গ

  Sum insured or fund value which is higher

  ঘ

  Fund value
• In a Unit Linked plan what is the maturity claim payable?
  ক

  Sum insured

  খ

  Sum insured less survival benefits paid already

  গ

  Nothing is payable

  ঘ

  Fund value
• On payment of a rider benefit, what happens to a policy contract?
  ক

  Ceases

  খ

  Dies

  গ

  Cancelled

  ঘ

  Continues