Insurance Sector (Part 1): Quiz for NICL exam

Some of the sample questions based on the Insurance sector - Part 1.  ( Click Here )

1. The central office of LIC is located at
a. New Delhi
b. Kolkata
c. Mumbai
d. Chennai

2. General Insurance Corporation was established in the year
a. 1956
b. 1972
c. 1955
d. 1971


3. General insurance business was nationalised under
a. GIBN Act.1971
b. GIBN Act.1972
c. GIBN Act.1973
d. GIBN Act.1974

4. The head quarters of New India Assurance Co. Ltd is
a. New Delhi
b. Mumbai
c. Kolkata
d. Chennai

5. The Head quarters of Oriental Insurance Co.ltd is
a. New Delhi
b. Mumbai
c. Kolkata
d. Chennai

6. The Head office of National Insurance Co. Ltd is
a. New Delhi
b. Mumbai
c. Kolkata
d. Chennai

7. Life insurance in its present form came to India from
a. UK
b. USA
c. Canada
d. Germany

8. LIC was set up in the year
a. 1824
b. 1823
c. 1822
d. 1821

9. LIC was nationalised in the year
a. 1951
b. 1952
c. 1954
d. 1956

10. The person who agrees to compensate the loss arising from the risk is called the ........
a. Insurer
b. underwriter
c. Assurer
d. All of these

11. The person whose risk is insured is called
a. Insured
b. Assured
c. Insurer
d. Both a &b

12. Insurance is based on the principle of
a. Co-operation
b. Democracy
c. Equality
d. Welfare

Answers:
1. c
2. a
3. b
4. b
5. a
6. c
7. a
8. b
9. d
10. d
11. d
12. a