NICL,OICL Insurance Exam Questions | Model Insurance Questions March 16,2015

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We Bring here 10 Questions helpful for Insurance Exams Like NICL,OICL and other exams.We will update daily with more questions.

NICL,OICL Insurance Exam Questions

1. Which of the following types of companies/ organisations issue ULIP? (The ULIPS were recently in news)
1) Insurance companies  2) Banks  3) NABARD
4) RBI 5) All of these

2. Insurance business in India is regulated by which of the following authorities?
1) NFCG  2) IRDA  3) CII
4) FICCI  5) All of these

3. Which amongst the following is NOT an insurance company functioning in India?
1) ICICI Prudential  2) ING Vysya  3) ICICI Lombard
4) New India Assurance Company Limited
5) National Securities Depository Ltd.

4. Which of the following is the only public sector company in the filed of life insurance?
1) General Insurance Company  2) New India Assurance Company
3) Oriental Insurance Company  4) Sahara Life Insurance
5) Life Insurance Corporation of India

5. As per the news in various financial newspapers, Larson & Toubro (L&T) is planning to enter the insurance business in India. Otherwise, what is the major business of L&T, which it is known for?
1) News paper Publications 2) Media Entertainment
3) Car and Automobile Production 4) Textiles
5) Heavy Engineering & Construction

6. "A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against" is technically known as
1) Death coverage  2) Life Insurance  3) Savings for future
4) Provident Fund  5) None of these

7. As per the news published in various newspapers, Life Insurance policies may become paperless in the near future. This means
1) LIC will not insure any person here after as it has already reached its peak
2) LIC will not ask for any documents from a person who wishes to purchase an Insurance policy
3) All policy related documents and policy certificates will henceforth be available in electronic form and not in their present physical form and not in their present physical form
4) LIC henceforth will not entertain any claim or complaint in written form or on paper. Things should be in electronic condition.
5) None of these

8. In Insurance policies we always find a date which is "Date of Maturity". What does it mean?
1) This is the date on which the policy was sold to the customer/person insured.
2) This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her.
3) This is the date on which the contract between the person and insurance company will come to an end.
4) The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the "payment due date".
5) None of these

9. As we know, the Government is paying much attention to "Micro Finance" these days. Which of the following is one of the examples of Micro Finance?
1) Insurance for life 2) Investment in Mutual Funds
3) Self Help Groups 4) Letter of Credit 5) All of these

10. Which of the following insurance plan is not launched by LIC?
1) Jeevan Abhaya      2) Life Mahalife Gold Plan
3) Child Career Plan  4) Child Future Plan  5) Jeevan Saral

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