Banking Awareness Practice Set
1. ____________, who represents the interests of the insured in searching for insurance coverage at the lowest cost and highest benefit to the insured.
Answer : Broker
2. In which among the following year National Insurance Company Limited (NICL) was incorporated?
Answer : 1906
3. Agriculture Insurance Company Of India Limited’ (AIC) was incorporated to exclusively cater to the insurance needs of the persons engaged in agriculture and allied activities in India under
Answer : Companies Act, 1956
4. The written insurance contract that may include all clauses, riders and endorsements. It is called?
Answer : Policy
5. UHIS has launched by the Government of India is already in existence for persons and families below the poverty line with the element of subsidy from the Government. UHIS stands for
Answer : Universal Health Insurance Scheme
6. Agriculture Insurance Company of India Limited (AIC) was incorporated in which year?
Answer : 20th December 2002
7. IBAI was incorporated as a Company under Section 25 of the Companies Act, 1956. What is the meaning of “B” in IBAI?
Answer : Brokers
8. Where is the head office of Agriculture Insurance Company of India Limited (AIC)?
Answer : Kolkata
9. Nippon Life Insurance has signed definitive agreements to invest Rs 2,265 crore (US$ 332.32 million) in order to increase its stake in Reliance Life Insurance from 26 per cent to 49 per cent. Nippon Life Insurance based in-
Answer : Germany
10. ___________ insurance gives protection to the vehicle owner against damages to his/her vehicle and pays for any Third Party Liability determined as per law against the owner of the vehicle.
Answer : Motor Insurance