It is crucial to have a good command over the General Knowledge section to score high in competitive exams, especially SSC and Civil Services, and make it to the final merit list. With frequent quizzes based on different topics from the General Knowledge section, Exammr has come to your rescue in improving your knowledge with the passage of each day.
1. Under the Motor Vehicle Act, the victims of fatal injuries are paid compensation on the basis of:
A) Income and Size of Family
B) Age and Gender
C) Income and Number of Dependents
D) Age and Income
2. The Insurance Act mandates every insurer to prepare which of the following at the end of the financial year?
A) Balance Sheet
B) Profit and Loss Account
C) Revenue Account for each class of Insurance business
D) All the above
3. What is the role of the Third Party Administrator?
A) Process insurance claims
B) Canvassing business for the insurer
C) Issue documents on behalf of the insurer
D) Arranging for reinsurance
4. FPA is an insurance contract clause that eliminates an insurer’s liability for partial losses. Expand FPA.
A) Freight Payable Assured
B) Free of Particular Average
C) Fire Perils Added
D) Fixed Peripherals Added
5. The Board of Trustees of the Unit Trust of India (UTI) consists of how many members?
A) 15
B) 5
C) 11
D) 8
6. The Corporate Office of the UTI is situated in Mumbai. The headquarter of its Eastern Zone is in which city?
A) Kolkata
B) Patna
C) Asansol
D) Bhubaneshwar
7. Which of the following types of insurance policies are much cheaper as compared to others?
A) Term insurance with guaranteed renewal
B) Decreasing term insurance
C) Term insurance with riders
D) E-term insurance
8. IRDA Regulations allow Brokers and Corporate Agents licensed by IRDA to become ‘AP’ of Insurance Repositories for better service their customers. What does AP stand for?
A) Agents Permitted
B) Assured Professional
C) Approved Persons
D) Authorized Party
9. A Company having paid-up capital of above Rs ________ lakh are eligible to be appointed as an Approved Person of an insurance repository
A) Rs 3 lakh
B) Rs 5 lakh
C) Rs 2 lakh
D) Rs 4 lakh
10. The ‘NEW CHILDREN’S MONEY BACK PLAN’ has been launched by which among the following insurance companies?
A) LIC
B) New India Assurance
C) National Insurance Company
D) United India Insurance
Answers:
B) Age and Gender
D) All the above
A) Process insurance claims
B) Free of Particular Average
C) 11
A) Kolkata
D) E-term insurance
C) Approved Persons
B) Rs 5 lakh
A) LIC
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