Insurance Awareness quiz (set-3)

21. When was the General Insurance Council formed?

a) 1955

b) 1956

c) 1957

d) 1958

Correct! Wrong!

22. When was General Insurance Business nationalized?

a) 1961

b) 1971

c) 1972

d) 1973

Correct! Wrong!

23. When was General Insurance Corporation of India formed?

a) 1969

b) 1970

c) 1972

d) 1975

Correct! Wrong!

24. When was the IRDA (Insurance Regulatory and Development Authority) constituted?

a) 1971

b) 1999

c) 2001

d) 2005

Correct! Wrong!

25. When was the Oriental Life Insurance Company established?

a) 1815

b) 1818

c) 1821

d) 1833

Correct! Wrong!

26. The Head Quarters of General Insurance Public Sector Association of India is situated at __________________

a) New Delhi

b) Bangaluru

c) Mumbai

d) Kolkata

Correct! Wrong!

27. Which of the following is true?

a) Insurance is the business carried on by an organization

b) Insurance is the sum of money that is borrowed

c) Insurance is the business that can provide some services

d) Insurance is the collective bearing of risk

Correct! Wrong!

28. General Insurance Company has monopoly on ______ type of insurance.

a) Life Insurance

b) Crop Insurance

c) Health Insurance

d) All of these

Correct! Wrong!

29. To start functioning in India which of the following require IRDAI License?

a) Insurance Brokers

b) Surveyors

c) Insurance Agents

d) All of these

Correct! Wrong!

30. Through which provision of insurance, banks can do insurance business?

a) Loan

b) Credit

c) Bancassurance

d) Mortgages

Correct! Wrong!