MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The policies where the premium is payable throughout the life of the assured is called |
| A. | whole life policy |
| B. | renewable term policy |
| C. | sinking fund policy |
| D. | annuity policy |
| Answer» B. renewable term policy | |
| 2. |
LIC was nationalised in the year |
| A. | 1951 |
| B. | 1952 |
| C. | 1954 |
| D. | 1956 |
| Answer» E. | |
| 3. |
The term “Assurance’ refers........ |
| A. | life insurance |
| B. | fire insurance |
| C. | marine insurance |
| D. | none of these |
| Answer» B. fire insurance | |
| 4. |
The Oriental Life Insurance Company came to India during |
| A. | 1919 |
| B. | 1818 |
| C. | 1899 |
| D. | 1888 |
| Answer» C. 1899 | |
| 5. |
With Profit policy is also known as....... |
| A. | multiple life policy |
| B. | participating policy |
| C. | level premium policy |
| D. | lump sum policy |
| Answer» C. level premium policy | |
| 6. |
A reinsurance of reinsurance known as............ |
| A. | line |
| B. | retention |
| C. | retrocession |
| D. | cession |
| Answer» D. cession | |
| 7. |
When the same risk and subject matter is insured with more than one insurer iscalled............ |
| A. | insurance of insurance |
| B. | retrocession |
| C. | double insurance |
| D. | none of these |
| Answer» D. none of these | |
| 8. |
Reinsurance is also termed as.............. |
| A. | insurance of insurance |
| B. | retrocession |
| C. | double insurance |
| D. | all of these |
| Answer» B. retrocession | |
| 9. |
Committee of Reforms in Insurance sectors during 1993 headed by........... |
| A. | rn malhotra |
| B. | s narasimham |
| C. | manmohansingh |
| D. | p chidambaram |
| Answer» B. s narasimham | |
| 10. |
When the amount for which a subject matter is insured more than its actualvalue, it is called............... |
| A. | over insurance |
| B. | reinsurance |
| C. | double insurance |
| D. | extra insurance |
| Answer» B. reinsurance | |
| 11. |
IRDA refers to |
| A. | insurance regulatory development authority |
| B. | indian reinsurance development authority |
| C. | insurance regulation and department accreditation |
| D. | insurance regulatory development association |
| Answer» B. indian reinsurance development authority | |
| 12. |
The danger of loss from the unforeseen circumstances in future refers to |
| A. | risk |
| B. | perils |
| C. | hazard |
| D. | damage |
| Answer» B. perils | |
| 13. |
The principle of ‘prevention is better than cure’ refers to |
| A. | avoiding of risk |
| B. | reduction of risk |
| C. | transferring risk |
| D. | shifting of risk |
| Answer» B. reduction of risk | |
| 14. |
When the subject is partially lost by a peril insured against, it is called.......... |
| A. | general average loss |
| B. | constructive total loss |
| C. | actual total loss |
| D. | particular average loss |
| Answer» E. | |
| 15. |
Cargo ship caught by fire is an example of |
| A. | general average loss |
| B. | constructive total loss |
| C. | actual total loss |
| D. | particular average loss |
| Answer» B. constructive total loss | |
| 16. |
Under fire insurance, loss of profit policy is also called |
| A. | average policy |
| B. | consequential loss policy |
| C. | specific policy |
| D. | adjustable policy |
| Answer» C. specific policy | |
| 17. |
Rashtriya Krishi Yojana of crop insurance scheme introduced in India in the year |
| A. | 1999 |
| B. | 1888 |
| C. | 1988 |
| D. | 1977 |
| Answer» B. 1888 | |
| 18. |
Motor vehicle insurance is compulsory under Motor Vehicle Act, which was enacted in... |
| A. | 1988 |
| B. | 1998 |
| C. | 1939 |
| D. | 1978 |
| Answer» D. 1978 | |
| 19. |
Motor vehicle Insurance had its beginning in |
| A. | uk |
| B. | usa |
| C. | india |
| D. | canada |
| Answer» B. usa | |
| 20. |
Organisation structure of LIC is |
| A. | two tier |
| B. | three tier |
| C. | four tier |
| D. | five tier |
| Answer» D. five tier | |
| 21. |
IRDA shall consist of note more than........... |
| A. | 10 members |
| B. | 7 members |
| C. | 9 members |
| D. | 8 members |
| Answer» D. 8 members | |
| 22. |
“Uberrimae Fidei” means |
| A. | indemnity |
| B. | insurable interest |
| C. | good faith |
| D. | mitigation of loss |
| Answer» D. mitigation of loss | |
| 23. |
........... is the oldest insurance |
| A. | fire insurance |
| B. | life insurance |
| C. | marine insurance |
| D. | social insurance |
| Answer» D. social insurance | |
| 24. |
Boiler insurance policy coming under |
| A. | fire insurance |
| B. | life insurance |
| C. | engineering insurance |
| D. | marine insurance |
| Answer» D. marine insurance | |
| 25. |
In life insurance, instalment policy is also known as |
| A. | annuity policy |
| B. | endowment policy |
| C. | whole life policy |
| D. | lump sum policy |
| Answer» B. endowment policy | |
| 26. |
In insurance, “Causa Proxima” means |
| A. | utmost good faith |
| B. | contribution |
| C. | prevent the causes of loss |
| D. | closely connected perils |
| Answer» E. | |
| 27. |
Which of the following is not a life insurance policy of LIC |
| A. | bima nivesh |
| B. | jeevan aadhar |
| C. | komal jeevan |
| D. | sun life |
| Answer» E. | |
| 28. |
There are........ associated companies of GIC |
| A. | 3 |
| B. | 2 |
| C. | 6 |
| D. | 4 |
| Answer» E. | |
| 29. |
In India Insurance business are regulated by |
| A. | irbi |
| B. | rbi |
| C. | irda |
| D. | irdp |
| Answer» D. irdp | |
| 30. |
In insurance, NAIS stands for |
| A. | national association of insurance service |
| B. | non assured individual section |
| C. | national agricultural insurance scheme |
| D. | new agricultural insurance scheme |
| Answer» D. new agricultural insurance scheme | |
| 31. |
NAIS launched in 1999 is being implemented through |
| A. | gic |
| B. | lic |
| C. | rrb |
| D. | nabard |
| Answer» B. lic | |
| 32. |
Crop insurance Scheme was introduced by Government of India in the tear |
| A. | 1970 |
| B. | 1972 |
| C. | 1975 |
| D. | 1985 |
| Answer» E. | |
| 33. |
........... is document issued to the insured in advance of the policy |
| A. | premium receipt |
| B. | cover note |
| C. | certificate of insurance |
| D. | all of these |
| Answer» D. all of these | |
| 34. |
............... is the amount which the insurer is prepared to pay before the date ofmaturity of policy. |
| A. | paid up value |
| B. | surrender value |
| C. | both a & b |
| D. | none of the above |
| Answer» C. both a & b | |
| 35. |
Risks are not suited to treatment by insurance refers to |
| A. | static risk |
| B. | property risk |
| C. | dynamic risk |
| D. | liability risk |
| Answer» D. liability risk | |
| 36. |
The Urban Credit Cooperatives are also commonly known as ………………. |
| A. | urban cooperative banks |
| B. | cooperative banks |
| C. | national banks |
| D. | none of the above |
| Answer» B. cooperative banks | |
| 37. |
With regard to short-term credit cooperatives, at the central level ……………………….. act asa link between primary societies and State Cooperative Apex Banks. |
| A. | district level cooperative banks |
| B. | primary cooperative agriculture and rural development banks |
| C. | state cooperative agriculture and rural development bank |
| D. | none of the above |
| Answer» B. primary cooperative agriculture and rural development banks | |
| 38. |
The cooperative credit institutions in the country may be broadly classified into ………… |
| A. | primary agriculture credit societies and district level cooperative banks |
| B. | district level cooperative banks and state cooperative apex banks |
| C. | urban credit cooperatives and rural credit cooperatives |
| D. | none of the above |
| Answer» D. none of the above | |
| 39. |
The ……………………… controls the cooperative banks that falls under the bankingregulation act of 1949. |
| A. | reserve bank of india |
| B. | nabard |
| C. | national cooperative union of india |
| D. | none of the above |
| Answer» B. nabard | |
| 40. |
At Ajmer in Rajasthan the first DCB was established in …………. |
| A. | 1900 |
| B. | 1920 |
| C. | 1910 |
| D. | 1950 |
| Answer» D. 1950 | |
| 41. |
The first DCB was established at………………..in 1910. |
| A. | mumbai in maharashtra |
| B. | ahmedabad in gujarat |
| C. | chennai in tamil nadu |
| D. | ajmer in rajasthan |
| Answer» E. | |
| 42. |
A …………………. also acts as a balancing center and clearing house for the centralcooperative banks. |
| A. | state cooperative bank |
| B. | district central cooperative banks |
| C. | primary agricultural credit societies |
| D. | all the above |
| Answer» B. district central cooperative banks | |
| 43. |
……………………..is the vertex of the pyramidal structure in a State for the provision of shortand medium term credit to agriculturists on cooperative basis. |
| A. | district central cooperative banks |
| B. | primary agricultural credit societies |
| C. | state cooperative banks |
| D. | all the above |
| Answer» D. all the above | |
| 44. |
…………………….. is the birth-place of land mortgage banking |
| A. | japan |
| B. | israel |
| C. | germany |
| D. | india |
| Answer» C. germany | |
| 45. |
Germany is the birth-place of ………….. |
| A. | land mortgage banking |
| B. | commercial banks |
| C. | insurance companies |
| D. | cooperative agricultural marketing |
| Answer» B. commercial banks | |
| 46. |
In India, the first cooperative land mortgage bank was established in ……………at Jhang inPunjab. |
| A. | 1900 |
| B. | 1920 |
| C. | 1910 |
| D. | 1950 |
| Answer» C. 1910 | |
| 47. |
In India, the first cooperative land mortgage bank was established in 1920 at………….. |
| A. | mumbai in maharashtra |
| B. | jhang in punjab. |
| C. | chennai in tamil nadu |
| D. | ajmer in rajasthan |
| Answer» C. chennai in tamil nadu | |
| 48. |
It was from the beginning of the …………………. that the policies oriented towardsdevelopment purposes were adopted and land mortgage banks were called “Land Development Banks”. |
| A. | first five year plans |
| B. | second five year plans |
| C. | third five year plans |
| D. | fourth five year plans |
| Answer» D. fourth five year plans | |
| 49. |
The ………………………. are organized in 3 tiers namely; state, central, and primarylevel andthey meet the long term credit requirements of the farmers for developmentalpurposes. |
| A. | land development banks |
| B. | primary banks |
| C. | urban cooperative banks |
| D. | nabard |
| Answer» B. primary banks | |
| 50. |
…………………..are now known as Cooperative Agriculture and Rural Development Banks . |
| A. | land development banks |
| B. | primary banks |
| C. | urban cooperative banks |
| D. | nabard |
| Answer» B. primary banks | |