TNPSC - Important Questions with Answers of Insurance Related.

1. Crop Insurance is the monopoly of____
(A) National Insurance Company 
(B) General Insurance Company 
(C) Life Insurance Corporation 
(D) NABARD
Answer: B

2. Government has issued an ordinance announcing ULIP as 'Insurance Product'. Who is now the regulator of ULIPs? 
(A) SEBI 
(B) IRDA 
(C) Both 'a' and 'b' 
(D) Government of India
Answer: B

3. 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
Answer: C

4. For regulation of the insurance trade in the country the Government has formed____
(A) SEBI 
(B) RBI 
(C) IRDA 
(D) GIC
Answer: C

5. IRDA is associated with____ 
(A) Agriculture 
(B) Insurance sectors 
(C) Telecommunication 
(D) Transport
Answer: B

6. Aam Admi Bima Yojana is an insurance scheme for rural landless households introduced by____ 
(A) LIC 
(B) UTI 
(C) ICICI 
(D) None of these
Answer: A

7. Aam Admi Bima Yojana provide insurance of ………. on natural death_____
(A) Rs. 75000 
(B) Rs. 30000 
(C) Rs. 50000 
(D) Rs. 10000 
Answer: B

8. According to the recently passed Insurance Laws (Amendment) Bill 2015 , FDI in Insurance Sector is____
(A) 74% 
(B) 26% 
(C) 49% 
(D) 51%
Answer: C

9. Which first bank in India to fully own an insurance business ?
(A) HDFC Bank 
(B) Kotak Mahindra Bank 
(C) ICICI Bank 
(D) IDBI Bank
Answer: B

10. As per the Insurance Act, every insurer has to prepare at the end of financial year
(A) Balance Sheet 
(B) Profit and Loss Account
(C) Revenue Account for each class of Insurance business 
(D) All of the above
Answer: D

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