| 1. |
The life insurance business in India was first started in which year? |
| A. | 1827 |
| B. | 1845 |
| C. | 1818 |
| D. | 1832 |
| Answer» C. 1818 | |
| 2. |
Name the first life insurance company to function in India |
| A. | United India Insurance Company |
| B. | Bombay Mutual Life Assurance Society |
| C. | Agriculture Insurance Company of India |
| D. | Oriental Life Insurance Company |
| Answer» D. Oriental Life Insurance Company | |
| 3. |
Which among the following is the first Indian life insurance company to begin operations in India? |
| A. | Bombay Mutual Life Assurance Society |
| B. | Empire of India Life Assurance Company |
| C. | Albert Life Assurance |
| D. | Royal Insurance |
| Answer» A. Bombay Mutual Life Assurance Society | |
| 4. |
The Life Insurance Companies Act was passed in which year? |
| A. | 1919 |
| B. | 1912 |
| C. | 1900 |
| D. | 1902 |
| Answer» B. 1912 | |
| 5. |
Which among the following is the oldest existing insurance company in India? |
| A. | National Insurance Company |
| B. | Life Insurance Corporation of India |
| C. | New India Assurance Company |
| D. | United India Insurance Company |
| Answer» A. National Insurance Company | |
| 6. |
The Life Insurance Corporation of India (LIC) came into existence in which year? |
| A. | 1962 |
| B. | 1949 |
| C. | 1956 |
| D. | 1947 |
| Answer» C. 1956 | |
| 7. |
Name the first General Insurance Company in India? |
| A. | ECGC Ltd |
| B. | United India Insurance Company Limited |
| C. | Indian Mercantile Insurance Ltd |
| D. | riton Insurance Company Ltd |
| Answer» D. riton Insurance Company Ltd | |
| 8. |
The Insurance Act to govern both life insurance and non-life insurance was passed in which year? |
| A. | 1929 |
| B. | 1938 |
| C. | 1949 |
| D. | 1934 |
| Answer» B. 1938 | |
| 9. |
The Life Insurance Business in India was nationalized in which year? |
| A. | 1956 |
| B. | 1949 |
| C. | 1938 |
| D. | 1962 |
| Answer» A. 1956 | |
| 10. |
The General Insurance Business in India was nationalized in which year? |
| A. | 1925 |
| B. | 1962 |
| C. | 1973 |
| D. | 1949 |
| Answer» C. 1973 | |
| 11. |
IRDA Act was passed in which year by the Government of India? |
| A. | 1992 |
| B. | 2002 |
| C. | 2000 |
| D. | 1999 |
| Answer» D. 1999 | |
| 12. |
The IRDA was incorporated as a statutory body on ? |
| A. | 2001-04-30 00:00:00 |
| B. | 2002-07-01 00:00:00 |
| C. | 1999-12-31 00:00:00 |
| D. | 2000-04-19 00:00:00 |
| Answer» D. 2000-04-19 00:00:00 | |
| 13. |
What is the FDI limit in the Insurance sector? |
| A. | 0.26 |
| B. | 0.49 |
| C. | 1 |
| D. | 0.74 |
| Answer» B. 0.49 | |
| 14. |
Which section of Insurance Act, 1938 grants power to IRDA to frame regulations? |
| A. | Section 114A |
| B. | Section 111B |
| C. | Section 110A |
| D. | Section 112B |
| Answer» A. Section 114A | |
| 15. |
The board of IRDAI consists of how many members? |
| A. | 10 |
| B. | 5 |
| C. | 4 |
| D. | 8 |
| Answer» A. 10 | |
| 16. |
Who is the Chairman of the IRDAI? |
| A. | Sujay Banarji |
| B. | P. J. Joseph |
| C. | Praveen Kutumbe |
| D. | Subhash C. Khuntia |
| Answer» D. Subhash C. Khuntia | |
| 17. |
Which of the following is a reinsurance company in India? |
| A. | The Oriental Insurance Company |
| B. | General Insurance Corporation of India |
| C. | Agriculture Insurance Company of India |
| D. | SBI General Insurance |
| Answer» B. General Insurance Corporation of India | |
| 18. |
How many insurance companies were merged to form the Life Insurance Corporation of India? |
| A. | 200 |
| B. | 176 |
| C. | 245 |
| D. | 125 |
| Answer» C. 245 | |
| 19. |
What does U stands for in ULIP with respect to insurance sector? |
| A. | Unique |
| B. | Unit |
| C. | Umbrella |
| D. | Ultimate |
| Answer» B. Unit | |
| 20. |
How many public sector life insurance companies are functional in India? |
| A. | 1 |
| B. | 2 |
| C. | 3 |
| D. | 4 |
| Answer» A. 1 | |
| 21. |
Bombay Mutual Life Assurance Society was the first life insurance company in India to insure Indian lives. It was set up in which year? |
| A. | 1890 |
| B. | 1832 |
| C. | 1818 |
| D. | 1870 |
| Answer» D. 1870 | |
| 22. |
The Indian Life Assurance Companies Act was passed in which year to regulate life insurance business in India? |
| A. | 1930 |
| B. | 1919 |
| C. | 1912 |
| D. | 1925 |
| Answer» C. 1912 | |
| 23. |
The Indian Insurance Companies Act was enacted in which year? |
| A. | 1912 |
| B. | 1928 |
| C. | 1936 |
| D. | 1949 |
| Answer» B. 1928 | |
| 24. |
The National Insurance Academy is located in which city? |
| A. | Kolkata |
| B. | New Delhi |
| C. | Pune |
| D. | Hyderabad |
| Answer» C. Pune | |
| 25. |
The National Insurance Company Limited is a type of insurance company |
| A. | General Insurance |
| B. | Life Insurance |
| C. | Re-Insurance |
| D. | ALL |
| Answer» A. General Insurance | |