Friend Have a Look On your Demanding Here I am Providing Sample Insurance Questions for IRDA Exams , :


Q1. The insurance industry of India consists of:
a) 52 Insurance Companies
b) 62 Insurance Companies
c) 35 Insurance Companies
d) None of These

Q2. Currently, Number of Life Insurance Companies running in India are:
a) 26
b) 25
c)24
d) None of These


Q3. How many Non - Life Insurance Companies are running in India:
a) 26
b) 28
c) 32
d) None of These


Q4. Insurance Institute of India (I.I.I.) was established in India in:
a) 1956
b) 1955
c) 1972
d) None of These


Q5. Insurance Institute of India was formerly known as:
a) Imperial Indian Insurance Institute
b) Federation of Insurance Institute
c) National Insurance Institute
d) None of These


Q6. Among the Life Insurance Companies, Which is sole public sector company:
a) Bharti AXA Life Insurance
b) Life Insurance Corporation of India (LIC)
c) United Life Insurance of India
d) None of These


Q7. How many Non - life insurance companies are public sector insurers:
a) 8
b) 6
c) 12
d) None of These


Q8. FIPB stands for:
a) Financial Investment Promotion Board
b) Federation of Investment Promotion Board
c) Foreign Investment Promotion Board
d) None of These


Q9. Out of 49% FDI in Insurance sector, how much % is under Automatic Route:
a) 29%
b) 26%
c) 30%
d) None of THese


Q10. Out of 49% FDI in Insurance sector, how much % need FIPB's approval:
a) 29%
b) 25%
c) 23%
d) None of These


Q11. For mis-selling Insurance Products, Insurance Agents will be fined for:
a) Rs. 10,000
b) Rs. 100,000
c) Rs. 50,000
d) None of These

Q12. An unauthorized agents whose only job is to dupe unsuspecting customers will be fined ________ for their scams:
a) Rs. 45 Lakh
b) Rs. 50 Lakh
c) Rs. 10 Lakh
d) None of These


Q13. Non - Compliance of IRDA's rule and regulations can result in _______in fines for companies:
a) Rs. 10 Crores
b) Rs. 25 Crores
c) Rs. 50 Crores
d) None of These


Q14. Guarantee or assurance to put the insured in the same position in which he was immediately prior to the happening of the uncertain event (Except Life Insurance) is known as:
a) Principle of Subrogation
b) Principle of Indemnity
c) Principle of Utmost Good Faith
d) None of These


Q15. General Insurance Corporation of India was incorporated on:
a) 24 December, 1975
b) 22 November, 1972
c) 10 April, 1965
d) None of These
‘
Q16. Insurer is:
a) Person who wants insurance policy
b) Insurance Company
c) Underwriter
d) None of These


Q17. The punch line of the advertisement of which of the following organization is "Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi":
a) General Insurance Corporation
b) New India Assurance
c) Life Insurance Corporation of India
d) None of These


Q18. Anmol Jeevan is a ______ of LIC:
a) Children's Plan
b) Term Insurance Plan
c) Basic Life Insurance Plan
d) None of These


Q19. CAG stands for:
a) Chief Auditor General
b) Comptroller and Auditor General
c) Commerce and GATT
d) None of These


Q20. The amount of a pre-paid premium that has not yet been used to buy coverage by Insurer is:
a) Premium Risk
b) Unearned Premium
c) Bad Debts
d) None of These

_________means a guarantee or assurance to put the insured in the same position in which he was immediately prior to the happening of the uncertain event:
a) Collateral Guarantee
b) Indemnity
c) Profit Expectation
d) None of These

When insurance companies shares risks between them, it is known as:
a) Re - Insurance
b) Self Insurance
c) Co - Insurance
d) None of These

If a person has taken more than one policies for specific purpose or risks having two or more policies with same coverage is called:
a) Dynamic Insurance
b) Re - Insurance
c) Dual Insurance
d) None of These


If you are in a situation where risk is not transferred to insurance companies and solely retained by the entities or individuals themselves, it is known as:
a) Self - Insurance
b) Re - Insurance
c) Dual Insurance
d) None of These


If one insurance company passes some or whole part of risk to another insurance company or Situations is that when insurer passes some part of or all risks to another insurer, it is called:
a) Dual Insurance
b) Re - Insurance
c) Both of Above
d) None of These
•
The life insurance business was nationalized on:
a) 18 July, 1966
b) 19 January, 1956
c) 21 February, 1957
d) None of These


Who was the chairman of 'Malhotra Committee':
a) D.K. Malhotra
b) R.N.Malhotra
c) A.K. Malhotra
d) None of These


On which date, Insurance Act 1938 was comes into existence:
a) 26 July, 1938
b) 26 February, 1938
c) 26 January, 1938
d) None of These


The insurance which provides coverage to a group of people under one contract is called:
a) Joint Life Insurance
b) Group Life Insurance
c) Collective Life Insurance
d) None of These


ERISA stands for:
a) Every India Resident Security Association
b) Employee Retirement and Income Security Act
c) Employee Re - Insurance Security Act
d) None of These


. TDI stands for:
a) Treaty Department of India
b) Texas Department of Insurance
c) Trade Development of Insurance
d) None of These


The amount paid by an insured to an insurance company to obtain or maintain an insurance policy is known as:
a) Interest
b) Premium
c) Charges
d) None of These


. TPA stands for:
a) Third Party Access
b) Third Party Administrator
c) Total Property Assets
d) None of These

The person who re-view an application for insurance and decides if the applicant is acceptable and at what premium rate:
a) Underwriter
b) Re-viewer
c) Broker
d) None of These


On 1 April, 1935 where was the headquarter of RBI:
a) Calcutta
b) Mumbai
c) Delhi
d) None of These