MCQOPTIONS
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MCQOPTIONS
This section includes 3653 Mcqs, each offering curated multiple-choice questions to sharpen your Banking And Financial Awareness knowledge and support exam preparation. Choose a topic below to get started.
| 2701. |
The process by which a life insurance policyholder can transfer all rights, title and interest under a policy contract to a third person is known as [SBI PC 2013] |
| A. | Assignment of the policy |
| B. | Hypothecation of the policy |
| C. | Reinvestment of the policy |
| D. | Negotiation of the policy |
| E. | Nomination of the policy |
| Answer» E. Nomination of the policy | |
| 2702. |
According to the Securities and Insurance Laws (Amendment) Bill 2010, who amongst the following will be the Vice Chairman of the Joint Commission to resolve differences amongst the financial regulators? [Allahabad Bank 2011] |
| A. | Finance Minister, Gol |
| B. | Deputy Chairman, Planning Commission |
| C. | Chairman, SEBI |
| D. | Chairman, Central Vigilance Commission E |
| E. | Governor, RBI |
| Answer» F. | |
| 2703. |
All of the following is true regarding ULIPs except I. Unit Holders can choose between different kind of funds. II. Life insurers provide Guarantee for all unit values. III. Units may be purchased by payment of single premium or via regular premium payments. IV.ULIP policy structure is transparent with regards to insurance expenses components. Insurance business in India is regulated by -which of the following authorities? |
| A. | NFCG |
| B. | IRDAI |
| C. | CII |
| D. | FICCI |
| E. | All of the above |
| Answer» C. CII | |
| 2704. |
Which of the following is/are the various types of insurance? (i) Life insurance (ii) Health insurance (iii) Liability insurance Codes |
| A. | Only I |
| B. | I and II |
| C. | II and III |
| D. | I and III |
| E. | All the three |
| Answer» F. | |
| 2705. |
Which of the following insurance plan is not launched by LIC? |
| A. | Jeevan Abhaya |
| B. | Life Mahalife Gold Plan |
| C. | Child Career Plan |
| D. | Child Future Plan |
| E. | Jeevan Saral |
| Answer» C. Child Career Plan | |
| 2706. |
CSDL was promoted by stock exchange Mumbai in association with I. Bank of Baroda II. Bank of India III. SBI IV. HDFC Bank Codes |
| A. | I, II and III |
| B. | II, III and IV |
| C. | I, II, III and IV |
| D. | I and IV |
| E. | I, II and IV |
| Answer» D. I and IV | |
| 2707. |
LIC is operating internationally through branch offices in I. Fiji II. Mauritius III. UK IV. Japan Which is/are correct? |
| A. | I and II |
| B. | III and I |
| C. | I, II and III |
| D. | I, II, III and IV |
| E. | I, III and IV |
| Answer» D. I, II, III and IV | |
| 2708. |
Choose the correct statement regarding LIC I. LIC was established on 1st Sep, 1990. II. It has head office at New Delhi. III. In 2008, its wholly owned subsidiary was opened in Singapore. Codes |
| A. | Only I |
| B. | I and II |
| C. | II and III |
| D. | I and III |
| E. | I, II and III |
| Answer» E. I, II and III | |
| 2709. |
Choose the correct statements regarding IRDAL I. The IRDA has changed its name to IRDAI on 26th Dec, 2014. II. IRDAI was established in the year 2004. III. The organization was setup under the guidelines of IRDA Act, 2004. Codes |
| A. | Only I |
| B. | I and II |
| C. | I and HI |
| D. | II and III |
| E. | I, II and III |
| Answer» B. I and II | |
| 2710. |
Main point of Insurance Law (Amendment) Bill, 2015 I. FDI in the insurance sector has been raised from 26% to 49% II. Insurance company restricted after the three years of sale insurance policy III. Provision of 10 yr imprisonment for the sale of insurance policy without registration with regulatory Which is/are correct? |
| A. | Only I |
| B. | I and II |
| C. | II and III |
| D. | I, II and III |
| E. | None of these |
| Answer» E. None of these | |
| 2711. |
ULIP policy holders can make use of features such as I. reduce or increase the level of protection II. options to surrender III. additional riders to enhance coverage and returns as well as tax benefits Which is/are correct? |
| A. | Only II |
| B. | I and II |
| C. | I, II and III |
| D. | II and III |
| E. | I and III |
| Answer» D. II and III | |
| 2712. |
The first Indian mutual fund was setup in |
| A. | 1950 |
| B. | 1953 |
| C. | 1963 |
| D. | 1983 |
| E. | 1993 |
| Answer» D. 1983 | |
| 2713. |
In case of close-ended scheme; new investors can buy the units only from |
| A. | Primary market |
| B. | Secondary market |
| C. | bond market |
| D. | Shares market |
| E. | Financial market |
| Answer» C. bond market | |
| 2714. |
Unit capital of open ended funds can fluctuate on |
| A. | monthly basis |
| B. | Yearly basis |
| C. | daily basis |
| D. | quarterly basis |
| E. | half yearly basis |
| Answer» D. quarterly basis | |
| 2715. |
'Equity schemes managed strong NAV gains which boost their assets' was a news in some financial newspapers. What is the full form of NAV used as in above headlines? |
| A. | Nill Accounting Variation |
| B. | Net Accounting Venture |
| C. | Net Asset Value |
| D. | New Asset Venture |
| E. | None of the above |
| Answer» D. New Asset Venture | |
| 2716. |
Which one is nationalised insurance company? |
| A. | SBI General Insurance Company Ltd. |
| B. | Religare Health Insurance Company |
| C. | New India Assurance Co. Ltd. |
| D. | Reliance General Insurance Co. Ltd. |
| E. | IFFCO-Tokio insurance Co. Ltd- |
| Answer» D. Reliance General Insurance Co. Ltd. | |
| 2717. |
Headquarters of United India Insurance Company |
| A. | Kolkata |
| B. | Mumbai |
| C. | New Delhi |
| D. | Chennai |
| E. | Patna |
| Answer» E. Patna | |
| 2718. |
Specialised General Insurance companies |
| A. | Cigma TITK |
| B. | TFFCO Tokio |
| C. | Max Bupa |
| D. | General Insurance Corporation of India |
| E. | TATA AIG General |
| Answer» E. TATA AIG General | |
| 2719. |
Which of the following is one of the General Insurance Companies? |
| A. | Indian Agriculture Insurance Company |
| B. | Aviva India |
| C. | Exide life Insurance |
| D. | ICICI Prudential Life Insurance |
| E. | SBI Life Insurance Company |
| Answer» B. Aviva India | |
| 2720. |
........ offers another area of profitability to banks with little or no capital outlay. |
| A. | Banc assurance |
| B. | Bank once |
| C. | ULIP insurance |
| D. | Insurance |
| E. | None of these |
| Answer» B. Bank once | |
| 2721. |
As per the Government of India Notification doted 3rd Aug, 2000 specifying 'Insurance' as a permissible form of business that could be undertaken by |
| A. | Financial Institute |
| B. | 10 |
| C. | Bank |
| D. | Stock market |
| E. | bond market |
| Answer» D. Stock market | |
| 2722. |
The Malhotra Committee was setup with the objective of complementing the reforms initiated in the |
| A. | Banking Sector |
| B. | Financial Sector |
| C. | Private Sector |
| D. | Public Sector |
| E. | Primary Sector |
| Answer» C. Private Sector | |
| 2723. |
Which of the following invest on behalf of the investors? |
| A. | Mutual Fund |
| B. | Depository system |
| C. | IRDAI |
| D. | Banc assurance |
| E. | SEBI |
| Answer» B. Depository system | |
| 2724. |
What is the full form of 'ULIP', the term which was in the news recently? |
| A. | Universal Life and Investment Plan |
| B. | Unit Loan and Insurance Plan |
| C. | Universal Loan and Investment Plan |
| D. | Uniformly Loaded Investment Plan |
| E. | Unit Linked Insurance Plan |
| Answer» F. | |
| 2725. |
India's first depository to facilitate trading and settlement of securities in the demat form |
| A. | CSDL |
| B. | NSDL |
| C. | RSDL |
| D. | SSDL |
| E. | USDL |
| Answer» C. RSDL | |
| 2726. |
NSDL was registered by the |
| A. | SEBI |
| B. | RBI |
| C. | IRDAI |
| D. | SBI |
| E. | GoI |
| Answer» B. RBI | |
| 2727. |
Dematerialisation is the process by which a client can get physical certificates converted into |
| A. | balances |
| B. | electronic balances |
| C. | cash balances |
| D. | audit balances |
| E. | draft |
| Answer» C. cash balances | |
| 2728. |
NSDL is promoted by |
| A. | IDBI |
| B. | UTI |
| C. | NSE |
| D. | All of these |
| E. | None of these |
| Answer» E. None of these | |
| 2729. |
CSDL commenced its operations during February, 1999. What is CSDL? |
| A. | Central Depository Services Limited |
| B. | Central Depository Securities Limited |
| C. | Central Dual Securities Limited |
| D. | Close-ended Depository Securities Limited |
| E. | Capital Depository Securities Limited |
| Answer» B. Central Depository Securities Limited | |
| 2730. |
The New India Assurance Company was established in 1919 by |
| A. | Dorab Tata |
| B. | G D Biria |
| C. | Jamunalal Bajaj |
| D. | Kamlapat Singhania |
| E. | None of the above |
| Answer» B. G D Biria | |
| 2731. |
If an organisation wishes to venture into Insurance Business it has to obtain a licence first from which of the following? |
| A. | Indian Banks Association (IBA) |
| B. | Security and Exchange Board of India (SEBI) |
| C. | Tariff Advisory Committee (TAC) |
| D. | Insurance Regulatory and Development Authority of India (IRDAI) |
| E. | None of the above |
| Answer» E. None of the above | |
| 2732. |
Which of the following was the parent company of New India Assurance? |
| A. | LIC |
| B. | GIC |
| C. | Oriental Insurance Co. Ltd. |
| D. | United India Insurance |
| E. | None of these |
| Answer» C. Oriental Insurance Co. Ltd. | |
| 2733. |
Which of the following Insurance Companies was launched with NABARD as one of its promoter's with 30% stake in it? |
| A. | General Insurance Corporation Ltd. |
| B. | National Insurance Company Ltd. |
| C. | Agriculture Insurance Company Ltd. |
| D. | SBI Life Insurance Company Ltd. |
| E. | None of the above |
| Answer» B. National Insurance Company Ltd. | |
| 2734. |
Which of the following is largest Non-Life Insurance Company in India? |
| A. | ICICI Lombard General Insurance Company Ltd. |
| B. | United India Insurance Company Ltd. |
| C. | General Insurance Company Ltd. |
| D. | New India Assurance Company Ltd. |
| E. | None of the above |
| Answer» E. None of the above | |
| 2735. |
The punch line of the advertisement of which of the following organisation is "Jindagi ke sath bhi Jindagi ke bad bhi"? |
| A. | New India Assurance |
| B. | General Insurance Corporation |
| C. | ICICI Prudential |
| D. | Life Insurance Corporation of India |
| E. | None of the above |
| Answer» E. None of the above | |
| 2736. |
According to the recently passed Insurance Laws (Amendment) Bill 2015, FDI in Insurance Sector was |
| A. | 74% |
| B. | 26% |
| C. | 49% |
| D. | 51% |
| E. | None of these |
| Answer» D. 51% | |
| 2737. |
Which of the following intermediaries do not require IRDM's licence/approval to operate in India? |
| A. | Insurance Brokers |
| B. | Insurance Agents |
| C. | Third Party Administrators |
| D. | Surveyors |
| E. | All of the above intermediaries require IRDAI's licence/approval |
| Answer» F. | |
| 2738. |
The main purpose of having Life insurance is |
| A. | As an avenue for long term investment |
| B. | As a medium for getting income tax benefits from savings |
| C. | As a governmental programme for reducing poverty |
| D. | As an avenue for short term investment |
| E. | None or the above |
| Answer» F. | |
| 2739. |
Insurance helps to |
| A. | Prevent adverse situations from occurring |
| B. | Reduce the financial consequences of adverse situations |
| C. | Negate all consequences of adverse situations |
| D. | Make assets continuously productive |
| E. | All of the above |
| Answer» C. Negate all consequences of adverse situations | |
| 2740. |
Insurance works on the principle of |
| A. | Sharing of losses |
| B. | Probabilities |
| C. | Large numbers |
| D. | Randomness |
| E. | All of these |
| Answer» F. | |
| 2741. |
Up to what extent, FDI in insurance sector is allowed by the Government of India (Got)? |
| A. | 26% |
| B. | 49% |
| C. | 51% |
| D. | 79% |
| E. | 100% |
| Answer» F. | |
| 2742. |
Which Insurance policy gives holder the benefits of both Insurance and Investment? |
| A. | Term Insurance Policies |
| B. | Money back Policies |
| C. | Unit Linked Investment Policies |
| D. | Pension Policies |
| E. | All of the above |
| Answer» D. Pension Policies | |
| 2743. |
Which one of the following is the example of Insurance depositories? |
| A. | Central Insurance Repository Limited (CIRIL) |
| B. | NSDL Database Management Limited |
| C. | SHCIL Projects Limited |
| D. | Karvy Insurance repository Limited |
| E. | All of the above |
| Answer» F. | |
| 2744. |
What are the main functions performed by the IRDAI? |
| A. | Protect the rights or policy holders |
| B. | Adjudication on insurance related matters |
| C. | Promoting insurance business |
| D. | Regulating investment of funds by insurance companies |
| E. | All of the above |
| Answer» F. | |
| 2745. |
Which first bank in India to fully own an insurance business? |
| A. | HDFC Bank |
| B. | Kotak Mahindra Bank |
| C. | ICICI Bank |
| D. | IDBI Bank |
| E. | SBI |
| Answer» C. ICICI Bank | |
| 2746. |
The Life Insurance Corporation of India has how many Zonal offices in India? |
| A. | Five |
| B. | Eight |
| C. | Ten |
| D. | Fifteen |
| E. | None of these |
| Answer» C. Ten | |
| 2747. |
Under whose chairmanship was the committee on Insurance Sector reforms set up? |
| A. | Narasimham |
| B. | C Rangarajan |
| C. | R N Malhotra |
| D. | None of these |
| E. | All of these |
| Answer» D. None of these | |
| 2748. |
Government has issued an ordinance announcing LJLIP as 'Insurance Product'. Who is now the regulator of ULIPs? |
| A. | SEBI |
| B. | IRDAI |
| C. | RBI |
| D. | Both a and b |
| E. | Government of India |
| Answer» C. RBI | |
| 2749. |
Which of the following is not in the State list under the Constitution of India? |
| A. | Insurance |
| B. | Fisheries |
| C. | Agriculture |
| D. | Gambling |
| E. | None of these |
| Answer» B. Fisheries | |
| 2750. |
ECGC is related to |
| A. | Export promotion |
| B. | Export financing and insurance |
| C. | Export quality certification |
| D. | Export statistics publication |
| E. | Export company |
| Answer» C. Export quality certification | |