Banking Awareness Practice Set
1. ____________ is a financial cover for a contingency linked with human life, like death, disability, accident, retirement etc.
Answer : Life Insurance
2. ULIP is a life insurance product, which provides risk cover for the policyholder along with investment options to invest in any number of qualified investments such as stocks, bonds or mutual funds. What is the meaning of “I” in ULIP?
Answer : Insurance
3. Net asset value NAV is the value per share of a mutual fund or an exchange-traded fund (ETF) on a specific date or time. NAV stands for
Answer : Net Asset Value
4. In ________ insurance, schemes are offered by insurance companies to provide certain classes of individuals, the benefit of insurance coverage at moderate cost.
Answer : group insurance
5. ____________ a/an is the section of an insurance policy dealing with various coverages, exclusions, duties of the insured, locations covered and conditions that terminate coverage.
Answer : Clause
6. Sun Life Financial Inc plans to increase its stake from 26 per cent to 49 per cent in Birla Sun Life Insurance Co Ltd, a joint venture with Aditya Birla Nuvo Ltd, through buying of shares worth Rs 1,664 crore (US$ 244.14 million). Sun Life Financial Inc based in
Answer : Canada
7. The term _______________ relates to a type of insurance that essentially covers your medical expenses.
Answer : Health Insurance
8. The General insurance industry was nationalised in _________ and 107 insurers were grouped and amalgamated into four Companies.
Answer : 1972
9. Where is the head office of United India Insurance Company Limited?
Answer : Chennai
10. Who is the present Chairman cum Managing Director of Oriental Insurance Company Ltd?
Answer : AV Girija Kumar