MCQOPTIONS
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MCQOPTIONS
This section includes 13 Mcqs, each offering curated multiple-choice questions to sharpen your Banking And Financial Awareness knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Headquarter of IRDAI is located at |
| A. | Hyderabad |
| B. | New Delhi |
| C. | Mumbai |
| D. | None of The Above |
| Answer» B. New Delhi | |
| 2. |
IRDAI stands for: |
| A. | Insurance Regulatory and Development Authority of India |
| B. | Investment Regulatory and Development Authority of India |
| C. | Insurance Reforms and Development Authority of India |
| D. | None of The Above |
| Answer» B. Investment Regulatory and Development Authority of India | |
| 3. |
IRDAI is an autonomous body set up under the _______ |
| A. | IRDA Act, 1999 |
| B. | IRDA Act, 2000 |
| C. | IRDA Act, 1995 |
| D. | None of The Above |
| Answer» B. IRDA Act, 2000 | |
| 4. |
Which among the following is correct about IRDA's mission |
| A. | To protect the interest of policy holders |
| B. | To regulate and develop the insurance industry |
| C. | Both of Above |
| D. | None of The Above |
| Answer» D. None of The Above | |
| 5. |
Initially, head office of IRDAI was at: |
| A. | Delhi |
| B. | Mumbai |
| C. | Gujarat |
| D. | None of The Above |
| Answer» E. | |
| 6. |
Head office of IRDAI was transferred from Delhi to Hyderabad in ______ |
| A. | 2002 |
| B. | 2004 |
| C. | 2001 |
| D. | None of The Above |
| Answer» D. None of The Above | |
| 7. |
Chairman of IRDAI is: |
| A. | Ujwal Bir Singh |
| B. | Rakesh Sethi |
| C. | T.S. Vijayan |
| D. | None of The Above |
| Answer» D. None of The Above | |
| 8. |
Oriental Life Insurance company was established at: |
| A. | Delhi |
| B. | Lahore |
| C. | Calcutta |
| D. | None of The Above |
| Answer» D. None of The Above | |
| 9. |
Insurance Repository is: |
| A. | It is a facility to help policy holders. |
| B. | It provides the facility, buy and keep insurance policies in electronic form rather than as a paper document |
| C. | Insurance repositories like share depositories or mutual fund transfer agencies will hold electronic records of insurance policies issued to individuals and such policies are called "electronic policies" or "e - policies |
| D. | All of The Above |
| Answer» E. | |
| 10. |
An Ordinance was issued on ________nationalizing the Life insurance sector: |
| A. | 19 July, 1956 |
| B. | 19 January, 1956 |
| C. | 2 October, 1956 |
| D. | None of The Above |
| Answer» C. 2 October, 1956 | |
| 11. |
In 1818, _________company was established |
| A. | Oriental Life Insurance Company |
| B. | Britain Insurance Company |
| C. | Standard Insurance Company Limited |
| D. | None of The Above |
| Answer» B. Britain Insurance Company | |
| 12. |
Which among the following is correct about LIC's absorption: |
| A. | 154 Indian insurers |
| B. | 16 non - Indian Insurers and 75 provident societies |
| C. | 245 Indian and foreign insurers in all |
| D. | All of The Above |
| Answer» E. | |
| 13. |
Life Insurance Corporation (LIC) was came into existence in_______ |
| A. | 1955 |
| B. | 1956 |
| C. | 1957 |
| D. | None of The Above |
| Answer» C. 1957 | |