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Insurance Quiz for LIC ADO 2015 and All upcoming Insurance exams Set 2

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Hello Aspirants. Welcome to Online Insurance Quiz section in Affairs cloud, which is useful for LIC ADO 2015,UIIC assaistant,OICl AO and many more upcoming insurance exams. We have included Some questions that are repeatedly asked in exams !!

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  1. Which of the following types of companies/ organisations issue ULIP?
    1) Insurance companies
    2) Banks
    3) NABARD
    4) RBI
    5) All of these
    1) Insurance companies

  2. All of the following is true regarding ULIPs EXCEPT:
    1)Unit Holders acn choose between different kind of funds.
    2)Life insurers provide Guarantee for all unit values.
    3)Units may be purchased by payment of single premium or via regular premium payments.
    4)ULIP policy structure is transparent with regards to insurance expenses components.
    2)Life insurers provide Guarantee for all unit values.

  3. Insurance business in India is regulated by which of the following authorities?
    1) NFCG
    2) IRDA
    3) CII
    4) FICCI
    5) All of these
    2) IRDA

  4. “A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against” is technically known as
    1) Death coverage
    2) Life Insurance
    3) Savings for future
    4) Provident Fund
    5) None of these
    2) Life Insurance

  5. As we know, the Government is paying much attention to “Micro Finance” these days. Which of the following is one of the examples of Micro Finance?
    1) Insurance for life
    2) Investment in Mutual Funds
    3) Self Help Groups
    4) Letter of Credit
    5) All of these
    3) Self Help Groups

  6. Which of the following insurance plan is not launched by LIC?
    1) Jeevan Abhaya
    2) Life Mahalife Gold Plan
    3) Child Career Plan
    4) Child Future Plan
    5) Jeevan Saral
    2) Life Mahalife Gold Plan

  7. Which of the following terms is Not used in the world of finance, banking and
    insurance?
    1) Devaluation
    2) Amnesty
    3) Hard currency
    4) Preference share
    5) Sinking fund
    2) Amnesty

  8. How many maximum children from a family are covered for the benefits under the Shiksha
    Sahyog Yojana launched by the LIC ?
    (A) One only
    (B) Two only
    (C) Three only
    (D) One Girl Child only
    (E) None of these
    (B) Two only

  9. Which of the following schemes launched in the year 2000 by the LIC replaced social Securitty group Insurance Schemes (SSIGS) and Rural Group Life Insurance Schemes (RGLIS)?
    (A) Janshree Bima Yojana
    (B) Bhagyashree Child Welfare Bima Yojana
    (C) Jan Arogya Bima Yojana
    (D) Raj Rajeshwari Mahila Kalyan Yojana
    (E) None of these
    (A) Janshree Bima Yojana

  10. Which of the following Scheme was launched by the LIC to provide life insurance protection, perodical lumpsum survival benefit and pension to the agricultural workers in India ?
    (A) Krishi Shramik Samajik Suraksha Yojana
    (B) Jan Shree Bima Yojana
    (C) Mahila Kalyan Yojana
    (D) Sampurna Arogya Bima Policy
    (E) None of these
    (A) Krishi Shramik Samajik Suraksha Yojana