Explore topic-wise MCQs in Bachelor of Commerce (B Com).

This section includes 140 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Commerce (B Com) knowledge and support exam preparation. Choose a topic below to get started.

1.

The life insurance business in India was first started in which year?

A. 1827
B. 1845
C. 1818
D. 1832
Answer» D. 1832
Discussion
2.

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» B. Empire of India Life Assurance Company
Discussion
3.

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» E.
Discussion
4.

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» B. Life Insurance Corporation of India
Discussion
5.

The Life Insurance Companies Act was passed in which year?

A. 1919
B. 1912
C. 1900
D. 1902
Answer» C. 1900
Discussion
6.

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» E.
Discussion
7.

The Life Insurance Corporation of India (LIC) came into existence in which year?

A. 1962
B. 1949
C. 1956
D. 1947
Answer» D. 1947
Discussion
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» C. 1949
Discussion
9.

How many Insurance Ombudsman are functional in India?

A. 21
B. 17
C. 9
D. 15
Answer» C. 9
Discussion
10.

Which among the following options is not correct?

A. 1948 Introduction of The Insurance Act
B. 1956 Nationalization of Life Insurance business
C. 1972 General Insurance Business (Nationalization) Act was passed
D. 2000 GIC was converted into National Re-insurer
Answer» B. 1956 Nationalization of Life Insurance business
Discussion
11.

The insurance is listed in which schedule to the Constitution of India?

A. 3rd
B. 14th
C. 9th
D. 7th
Answer» E.
Discussion
12.

The Pradhan Mantri Vaya Vandana Yojana (PMVVY) has been launched by

A. Life Insurance Corporation of India
B. Insurance Regulatory and Development Authority of India
C. Employees Provident Fund Organisation
D. Pension Fund Regulatory and Development Authority
Answer» B. Insurance Regulatory and Development Authority of India
Discussion
13.

The banks can withdraw from DICGC coverage after a period of

A. One year
B. Two years
C. Five years
D. Cannot Withdraw
Answer» E.
Discussion
14.

The Life Insurance Business in India was nationalized in which year?

A. 1956
B. 1949
C. 1938
D. 1962
Answer» B. 1949
Discussion
15.

The National Insurance Company Limited is a type of insurance company

A. General Insurance
B. Life Insurance
C. Re-Insurance
D. ALL
Answer» B. Life Insurance
Discussion
16.

The General Insurance Business in India was nationalized in which year?

A. 1925
B. 1962
C. 1973
D. 1949
Answer» D. 1949
Discussion
17.

IRDA Act was passed in which year by the Government of India?

A. 1992
B. 2002
C. 2000
D. 1999
Answer» E.
Discussion
18.

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» E.
Discussion
19.

What does U stands for in ULIP with respect to insurance sector?

A. Unique
B. Unit
C. Umbrella
D. Ultimate
Answer» C. Umbrella
Discussion
20.

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» B. Section 111B
Discussion
21.

What is the FDI limit in the Insurance sector?

A. 0.26
B. 0.49
C. 1
D. 0.74
Answer» C. 1
Discussion
22.

The board of IRDAI consists of how many members?

A. 10
B. 5
C. 4
D. 8
Answer» B. 5
Discussion
23.

How many insurance companies were merged to form the Life Insurance Corporation of India?

A. 200
B. 176
C. 245
D. 125
Answer» D. 125
Discussion
24.

Who is the Chairman of the IRDAI?

A. Sujay Banarji
B. P. J. Joseph
C. Praveen Kutumbe
D. Subhash C. Khuntia
Answer» E.
Discussion
25.

How many public sector life insurance companies are functional in India?

A. 1
B. 2
C. 3
D. 4
Answer» B. 2
Discussion
26.

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» D. 1925
Discussion
27.

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» E.
Discussion
28.

The Indian Insurance Companies Act was enacted in which year?

A. 1912
B. 1928
C. 1936
D. 1949
Answer» C. 1936
Discussion
29.

. ?

A. .
B.
C.
D.
Answer» C.
Discussion
30.

( ) ?

A. 1962
B. 1949
C. 1956
D. 1947
Answer» D. 1947
Discussion
31.

- ?

A. 1929
B. 1938
C. 1949
D. 1934
Answer» C. 1949
Discussion
32.

, 1938 ?

A. 114
B. 111
C. 110
D. 112
Answer» B. 111
Discussion
33.

. . . . ?

A. Unique
B. Unit
C. Umbrella
D. Ultimate
Answer» C. Umbrella
Discussion
34.

Which among the following was the first life insurance company in India to cater to the needs of Indians?

A. Indian Mercantile Insurance Company Ltd
B. Madras Equitable Life Insurance Society
C. Bombay Mutual Life Assurance Society
D. Oriental Life Insurance Company
Answer» D. Oriental Life Insurance Company
Discussion
35.

How many insurance companies were merged with National Insurance Company Limited after nationalization in 1972?

A. 54
B. 19
C. 32
D. 28
Answer» D. 28
Discussion
36.

The headquarter of The New India Assurance Company Ltd is located in which city?

A. Kolkata
B. Chennai
C. Mumbai
D. Delhi
Answer» D. Delhi
Discussion
37.

The headquarter of Agriculture Insurance Company Of India Limited (AIC) is located in which city?

A. Bengaluru
B. Pune
C. New Delhi
D. Hyderabad
Answer» D. Hyderabad
Discussion
38.

The first ever life insurance industry in India was set up in which city?

A. Bombay
B. Delhi
C. Madras
D. Calcutta
Answer» E.
Discussion
39.

The United India Insurance Company has its headquarter in which city?

A. Kolkata
B. New Delhi
C. Mumbai
D. Chennai
Answer» E.
Discussion
40.

Where is the headquarters of Life Insurance Corporation of India (LIC) located?

A. Delhi
B. Pune
C. Mumbai
D. Chennai
Answer» D. Chennai
Discussion
41.

The first general insurance company was set up in which city of India?

A. Delhi
B. Madras
C. Bombay
D. Calcutta
Answer» E.
Discussion
42.

( )

A. 31 1919
B. 25 1946
C. 18 1938
D. 09 1952
Answer» D. 09 1952
Discussion
43.

UIIC ?

A. 1956
B. 1972
C. 1999
D. 2000
Answer» C. 1999
Discussion
44.

1972 ?

A. 54
B. 19
C. 32
D. 28
Answer» D. 28
Discussion
45.

( ) ?

A. 5 1906
B. 18 1984
C. 22 1938
D. 30 1919
Answer» B. 18 1984
Discussion
46.

. ?

A.
B.
C.
D.
Answer» B.
Discussion
47.

( ) ( ) ?

A. 0.3
B. 0.35
C. 0.4
D. 0.45
Answer» B. 0.35
Discussion
48.

( ) ?

A.
B.
C.
D.
Answer» D.
Discussion
49.

, ?

A. 1999
B. 2001
C. 2004
D. 1992
Answer» C. 2004
Discussion
50.

( ) , 2008 ?

A. , 1938
B. ( ) , 1972
C. , 1999
D.
Answer» E.
Discussion