MCQOPTIONS
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MCQOPTIONS
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.
| 101. |
Which Section of the Insurance Act 1938, allows the life insurers to call a policy into question, within the initial 3 years, on the ground of misrepresentation or fraud? |
| A. | Section 27 |
| B. | Section 32 |
| C. | Section 45 |
| D. | Section 12 |
| Answer» D. Section 12 | |
| 102. |
The Insurance companies provide an option of reactivating the lapsed policy, within a specific period of time post the grace period. This period is known as |
| A. | Extended Period |
| B. | Lapsed Period |
| C. | Revival Period |
| D. | Renewed Period |
| Answer» D. Renewed Period | |
| 103. |
What does Paid Up policy means in insurance? |
| A. | Policy that requires no further premium payments and continues to provide benefits till maturity. |
| B. | Policy that provide a life cover for a specific term |
| C. | Policy for which the premium is paid in a single period together |
| D. | Policy in which the premium gets reduced over a period of time and benefit increases till maturity |
| Answer» B. Policy that provide a life cover for a specific term | |
| 104. |
Selling of insurance products through banks is known as |
| A. | Banking Insurance |
| B. | Inclusive Banking |
| C. | Third Party Banking |
| D. | Bancassurance |
| Answer» E. | |
| 105. |
The Insurance plan under which a number of employees and their dependents are insured under a single policy is known as ? |
| A. | Group insurance |
| B. | Co Insurance |
| C. | Double Insurance |
| D. | Self Insurance |
| Answer» B. Co Insurance | |
| 106. |
The fixed amount of money paid by the insured to the insurance company regularly is called . |
| A. | Capital |
| B. | Annuity |
| C. | Premium |
| D. | Value |
| Answer» D. Value | |
| 107. |
An insurance product that pays out income to the holder at specified intervals usually after retirement is known as |
| A. | Paid Up |
| B. | Annuity |
| C. | Premium |
| D. | Claim |
| Answer» C. Premium | |
| 108. |
How many public sector non life insurance companies are there in India? |
| A. | 1 |
| B. | 3 |
| C. | 5 |
| D. | 6 |
| Answer» E. | |
| 109. |
The situation where the benefits of insurance policy gets terminated due to non-payment of premium is called as |
| A. | Surrender |
| B. | Lapse |
| C. | Terminate |
| D. | Dormant |
| Answer» C. Terminate | |
| 110. |
( ) ? |
| A. | SAMPARK |
| B. | SAMADHAN |
| C. | SAMPOORNA |
| D. | SHATABDI |
| Answer» B. SAMADHAN | |
| 111. |
What percentage of annual profit does Life Insurance Corporation of India (LIC) pays to Central government? |
| A. | 0.02 |
| B. | 0.05 |
| C. | 0.07 |
| D. | 0.1 |
| Answer» C. 0.07 | |
| 112. |
What percentage of annual profit does Life Insurance Corporation of India (LIC) pays its policy holder? |
| A. | 0.6 |
| B. | 0.85 |
| C. | 0.65 |
| D. | 0.95 |
| Answer» E. | |
| 113. |
How many companies were merged with the United India Insurance Company Limited with nationalization? |
| A. | 20 |
| B. | 14 |
| C. | 19 |
| D. | 22 |
| Answer» E. | |
| 114. |
Name the committee that recommended the entry of the private sector in the insurance business and also foreign companies be allowed entry by forming joint venture with Indian companies |
| A. | Malhotra Committee |
| B. | Gupte Committee |
| C. | Amphora Committee |
| D. | Banarji Committee |
| Answer» D. Banarji Committee | |
| 115. |
The person who is specified by the insured to receive the insurance policy in case premature death is called a . |
| A. | Nominee |
| B. | Insured |
| C. | Insurer |
| D. | Appointee |
| Answer» B. Insured | |
| 116. |
The headquarter of UIIC is in which city? |
| A. | Kolkata |
| B. | Mumbai |
| C. | Chennai |
| D. | Hyderabad |
| Answer» D. Hyderabad | |
| 117. |
UIIC was nationalised in which year? |
| A. | 1956 |
| B. | 1972 |
| C. | 1999 |
| D. | 2000 |
| Answer» C. 1999 | |
| 118. |
( ) ? |
| A. | 1912 |
| B. | 1950 |
| C. | 1952 |
| D. | 1956 |
| Answer» E. | |
| 119. |
( ) ? |
| A. | 1999 |
| B. | 2000 |
| C. | 1998 |
| D. | 1997 |
| Answer» B. 2000 | |
| 120. |
Life Insurance Corporation of India(LIC) was formed in which year? |
| A. | 1912 |
| B. | 1950 |
| C. | 1952 |
| D. | 1956 |
| Answer» E. | |
| 121. |
With the nationalization, the General Insurance business in India was merged into how many companies? |
| A. | 10 |
| B. | 9 |
| C. | 7 |
| D. | 4 |
| Answer» E. | |
| 122. |
The Insurance Regulatory and Development Authority (IRDA) Act was passed in which year? |
| A. | 1999 |
| B. | 2000 |
| C. | 1998 |
| D. | 1997 |
| Answer» B. 2000 | |
| 123. |
The General Insurance Business (Nationalization) Amendment Act was passed in which year? |
| A. | 2000 |
| B. | 2002 |
| C. | 1999 |
| D. | 1998 |
| Answer» C. 1999 | |
| 124. |
A person with expertise in measurement and management of risk and uncertainty in insurance business is known as |
| A. | Actuary |
| B. | Insurer |
| C. | Agent |
| D. | Claimant |
| Answer» B. Insurer | |
| 125. |
The United India Insurance Company (UIIC) Limited was incorporated on |
| A. | 1919-12-31 00:00:00 |
| B. | 1946-01-25 00:00:00 |
| C. | 1938-02-18 00:00:00 |
| D. | 1952-03-09 00:00:00 |
| Answer» D. 1952-03-09 00:00:00 | |
| 126. |
, ? |
| A. | |
| B. | |
| C. | |
| D. | |
| Answer» B. | |
| 127. |
The General Insurance Corporation of India (GIC) was notified as the Indian Reinsurer in which year? |
| A. | 2014 |
| B. | 1987 |
| C. | 1999 |
| D. | 2000 |
| Answer» E. | |
| 128. |
The General Insurance Corporation of India (GIC) was incorporated as a private company under which act? |
| A. | Insurance Act 1938 |
| B. | General Insurance Business (Nationalisation) Act, 1972 |
| C. | Companies Act, 1956 |
| D. | Insurance Regulatory and Development Authority Act, 1999 |
| Answer» D. Insurance Regulatory and Development Authority Act, 1999 | |
| 129. |
What is the share of Government of India in the GIC of India (GIC Re)? |
| A. | 0.7025 |
| B. | 1 |
| C. | 0.5111 |
| D. | 0.8578 |
| Answer» E. | |
| 130. |
GIC was formed in pursuance of which section of General Insurance Business (Nationalization) Act (GIBNA)? |
| A. | Section 8(1) |
| B. | Section 7(1) |
| C. | Section 9(1) |
| D. | Section 2(1) |
| Answer» D. Section 2(1) | |
| 131. |
The New India Assurance Company Limited was founded in which year? |
| A. | 1928-03-02 00:00:00 |
| B. | 1922-12-18 00:00:00 |
| C. | 1932-01-28 00:00:00 |
| D. | 1919-07-23 00:00:00 |
| Answer» E. | |
| 132. |
Who is the Chairman and MD of ECGC Ltd. |
| A. | Alamelu T. Lakshmanachari |
| B. | Geetha Muralidhar |
| C. | K Sanath Kumar |
| D. | A V Girija Kumar |
| Answer» C. K Sanath Kumar | |
| 133. |
( . . .) : ? |
| A. | 2014 |
| B. | 1987 |
| C. | 1999 |
| D. | 2000 |
| Answer» E. | |
| 134. |
- , ( ) |
| A. | |
| B. | |
| C. | |
| D. | |
| Answer» C. | |
| 135. |
( ) - ? |
| A. | 1995 |
| B. | 2000 |
| C. | 2014 |
| D. | 1999 |
| Answer» C. 2014 | |
| 136. |
The sole national re-insurer of India, General Insurance Corporation of India (GIC Re) has its headquarter at |
| A. | New Delhi |
| B. | Mumbai |
| C. | Kolkata |
| D. | Chennai |
| Answer» C. Kolkata | |
| 137. |
The New India Assurance Company Ltd is a type of company |
| A. | General Insurance Company |
| B. | Life Insurance Company |
| C. | Pension Regulator |
| D. | Asset Reconstruction |
| Answer» B. Life Insurance Company | |
| 138. |
Where is the headquarter of The Oriental Insurance Company Ltd located? |
| A. | New Delhi |
| B. | Mumbai |
| C. | Chennai |
| D. | Kolkata |
| Answer» B. Mumbai | |
| 139. |
10 ? |
| A. | 12 |
| B. | 10 |
| C. | 5 |
| D. | 8 |
| Answer» B. 10 | |
| 140. |
The National Insurance Academy is located in which city? |
| A. | Kolkata |
| B. | New Delhi |
| C. | Pune |
| D. | Hyderabad |
| Answer» D. Hyderabad | |