Insurance Awareness quiz (set-2)

11. What is the function of IRDA?

a) Plan for financial inclusion

b) Provide relief packages to the farmers

c) Regulate insurance business in India

d) Hiring and purchasing assets.

Correct! Wrong!

12. Which of the following organization decides Repo Rate?

a) SEBI

b) IMF

c) AMFI

d) RBI

Correct! Wrong!

13. Which of the following is a combination of insurance as well as investment?

a) Money back Policy

b) Endowment Plan

c) Unit-linked Insurance Plan

d) Mutual Funds

Correct! Wrong!

14. Investment in ULIPs is related to which section of Income Tax Act?

a) 58C

b) 65B

c) 78A

d) 80C

Correct! Wrong!

15. Limit of FDI in insurance sector is -------%

a) 47%

b) 50%

c) 49%

d) 51%

Correct! Wrong!

16. Which was an oldest Insurance company found in 1906?

a) LIC

b) National Insurance Company

c) Agriculture Insurance Company of India

d) United India Insurance Company

Correct! Wrong!

17. In which year New India Assurance Company Ltd. was found?

a) 1918

b) 1818

c) 1919

d) 1945

Correct! Wrong!

18. What percent shares of New India Assurance Company Ltd. is owned by Govt. of India?

a) 50%

b) 85%

c) 99.4%

d) 100%

Correct! Wrong!

19. In which year New India Assurance Company Ltd. was nationalized?

a) 1945

b) 1947

c) 1973

d) 1969

Correct! Wrong!

20. When did insurance begin in Babylon?

a) 1750BC

b) 1607BC

c) 1671BC

d) 1951AD

Correct! Wrong!