Insurance and Mutual Fund Quiz

Largest Life Insurance Company in India is:

• The New India Assurance Company Limited

• Life Insurance Corporation of India (LIC)

• United India Insurance Company Limited

• National Insurance Company Limited

Which of the following is not the principal of insurance:

• Utmost Good Faith

• Principle of Contribution

• Maximization of Profit

• Causa Proxima

"Stepping into shoes of other" related with:

• Principle of CAUSA PROXIMA

• Principle of Subrogation

• Principle of Contribution

• Principle of Indemnity

A person must be benefited by that thing which he wants to be insured is called:

• Interest

• Insurable Interest

• Causa Proxima

• Contribution of That person

Up to what extent, FDI in Insurance sector is allowed by the Government of India (GOI)?

• 26%

• 49%

• 51%

• 100%

Which Insurance policy gives holder the benefits of both Insurance and Investment?

• Term Insurance Policies

• Money-back Policies

• Unit-linked Investment Policies

• Pension Policies

IRDA is associated with?

• Railways

• Insurance Sector

• Banking

• Tele Communication

An insurable risk is one in which:

• The loss is a specific amount.

• The loss is not accidental.

• The risk is dispersed.

• The policyholder has no insurable interest.

Which risk-management technique does self-insurance satisfy?

• Risk reduction

• Risk assumption

• Risk avoidance

• Shifting risks

• Risk elimination

What type of life insurance policy would you recommend for a young couple, with no children, that would provide the most protection for the smallest premium?

• Term

• ULIP

• Whole life

• Endowment