ET Quiz for Insurance Concept

Who regulates banking industry?

Select the correct answer from the list below.

• IRDAI

• SBI

• RBI

Who regulates insurance industry?

Select the correct answer from the list below.

• IRDAI

• SBI

• RBI

______________ is the technique of risk transfer through risk pooling.

Select the correct answer from the list below.

• Saving

• Investments

• Insurance

• Risk Mitigation

Pooling of risk consists of collecting contributions from various individuals exposed to similar risks.

Identify whether the above statement is true or false.

• True

• False

Insurance is one of the major forms of risk transfer.

Identify whether the above statement is true or false.

• True

• False

Which of the following is a method of risk transfer?

Select the correct answer from the list below.

• Purchase of bank fixed deposit 

• Purchase of equity shares

• Purchase of real estate 

• Purchase of insurance 

How many life insurance companies operate in India (as on May 2023)?

Select the correct answer from the list below.

• 20

• 23

• 25

• 30

How many general insurance companies operate in India (as on May 2023)?

Select the correct answer from the list below.

• 28

• 35

• 25

How many health insurance companies operate in India (as on May 2023)?

Select the correct answer from the list below.

• 3

• 7

• 5

Health Insurance Companies settle claims through TPAs (third party administrators)?

Identify whether the above statement is true or false.

• True

• False