Insurance Awareness Quiz (set-1)

01. Largest Life Insurance Company in India is_________.

a) The New India Assurance Company Ltd.

b) Life Insurance Corporation of India.

c) SBI Life.

d) ICICI prudential.

Correct! Wrong!

02. LIC of India was established on ____________.

a) 01.04.1956

b) 06.12.1961

c) 04.09.1957

d) 01.09.1956

Correct! Wrong!

03. Head Quarter of LIC is situated at ___________.

a) Delhi

b) Kolkata

c) Mumbai

d) Hyderabad

Correct! Wrong!

04. Oldest (1818) Life Insurance Company is _________.

a) Postal Life Insurance Company

b) Bharat Life Insurance Company

c) Oriental Life Insurance Company

d) Max Life Insurance Company

Correct! Wrong!

05. Regulator for all insurance companies in India is ________.

a) SEBI

b) IRDAI

c) LIC

d) Central Government

Correct! Wrong!

6. IRDAI was constituted by recommendation of _________ committee.

a) Singh Committee

b) Malhotra Committee

c) Kumarmongalam Committee

d) None of the above

Correct! Wrong!

7. Insurance is legislated by _________.

a) State Government

b) Insurance Companies

c) Central Government

d) Ministry of Commerce

Correct! Wrong!

8. ___________is not a principle of Insurance.

a) Principle of Utmost Good Faith

b) Principle of Contribution

c) Maximization of Profit

d) Causa Proxima

Correct! Wrong!

9. Insurance is listed in the Constitution of India in ____________ Scheduled as Union list subject.

a) Scheduled-8th

b) Scheduled-10th

c) Scheduled-7th

d) Scheduled-9th

Correct! Wrong!

10. When was Life Insurance sector nationalized_______?

a) 1907

b) 1934

c) 1938

d) 1956

Correct! Wrong!