Q. The Federal Reserve is the central banking system of -
1) Russia
2) United Kingdom
3) Europe
4) USA
Q. The hedquarters of the State Owned Life Insurance Corporation Limited is situated in -
1) Gurgaon
2) Mumbai
3) Hyderabad
4) Kolkata
Q. A Life Insurance which provides coverage at a fixed rate of payments for a limited period of time is known as -
1) Variable Life Insurance Policy
2) Term Life Insurance policy
3) Permanent Life Insurance policy
4) Universal Life Insurance policy
Q. The annual investment limit under the public provident fund (PPF) scheme -
1) Rs. 2,50,000
2) Rs. 1,50,000
3) Rs. 2,25,000
4) Rs. 1,00,000
Q. The regulator of the insurance business in India is -
1) PFRDA
2) IRDA
3) FMC
4) SEBI
Q. Situations when the insurance company passes some part of or all risks to another -
1) Reinsurance
2) Double-insurance
3) Co-insurance
4) Void-insurance
Q. An act by which the policy holders authorizes another person to receive the policy money is known as -
1) Nomination
2) Assignment
3) Negotiation
4) Hypothecation
Q. A general or life insurance policy with a sum assured of Rs. Fifty Thousand or less is known as a -
1) Micro Insurance policy
2) Plain Insurance policy
3) Standard Insurance policy
4) Basic Insurance policy
Q. Which of the following is a mode of creating charge on immovable property?
1) Mortgage
2) Nomination
3) Assignment
4) Hypothecation
Q. The amount to be paid for a contract of insurance to the insurance company, that is the sum that a person pays monthly, quarterly or annually according to their plan, in return of the coverage he/ she has taken from the insurance company is known as -
1) Certain Loss
2) Uncertain Loss
3) Claim amount
4) Premium
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