INSURANCE AWARENESS

                                       

                                       Banking/Insurance Quiz For AAO | Bank Exams

1. According to the Reserve Bank of India, a minor cannot operate a saving bank account independently till he/she attains the age of:
a) 10 years
b) 12 years
c) 14 years
d) 16 years
e) 18 years

2. As per the RBI guidelines on the licensing of Small Bank and Payment Bank, the minimum paid-up capital requirement is:
a) 50 cr
b) 100 cr
c) 250 cr
d) 500 cr
e) 1000 cr

3. IRDA is a __________.
a) Statutory body
b) Constitutional body
c) Quasi-judicial body
d) Autonomous body
e) Both 1 & 4

4. A general or life insurance policy with a sum assured of Rs.Fifty Thousand or less is known as a _________.
a) Micro Insurance Policy
b) Plain Insurance Policy
c) Standard Insurance Policy
d) Basic Insurance Policy
e) General Insurance Policy

5. Which of the following is a mode of creating charge on immovable property?
a) Mortgage
b) Nomination
c) Assignment
d) Hypothecation
e) Pledge

6. The 'SBI Life Insurance Company Limited' is a joint venture life insurance company between State Bank of India and __________.
a) BNP Paribas Assurance
b) Standard Life Insurance
c) Prudential Life Insurance
d) Life Insurance Corporation
e) New York Life Insurance Company

7. The amount to be paid for a contact of insurance to the insurance company, that is the sum that a person pays monthly, quarterly or annually according to their plan, in return of the coverage he/she has taken from the insurance company is known as __________.
a) Certain Loss
b) Uncertain Loss
c) Claim amount
d) Premium
e) Sum assured

8. An act by which the policy-holders authorises another person to receive the policy money is known as __________.
a) Nomination
b) Assignment
c) Negotiation
d) Hypothecation
e) Transfer

9. Situations when the insurance company passes some part of or all risks to another:
a) Reinsurance
b) Double-insurance
c) Co-insurance
d) Void-insurance
e) Dual Insurance

10. The regulator of the insurance business in India is __________.
a) PFRDA
b) IRDA
c) FMC
d) SEBI
e) RBI

Answers: A - B - E - A - A - A - D - A - A - B