Insurance Awareness(General Knowledge ) Questions and Answers
Question 1. A single policy covering a group of individuals, usually employees of the same company or members of the same association and their dependants is called __________
Hospital Insurance
Hull Insurance
Group Insurance
Identity theft Insurance
Explanation:-
Answer: Option C. -> Group Insurance
A group insurance policy gives you advantages of standardised coverage and very competitive premium rates.
Question 2. A seller's market in which insurance is expensive and in short supply is termed as _______
Hard Market
Soft Market
Alternative Market
None of the Above
Explanation:-
Answer: Option C. -> Alternative Market
A term commonly used in risk financing to refer to one of a number of risk funding techniques is known as Alternative Market.
Question 3. Where is the headquarters of New India Assurance Co Ltd located?
New Delhi
Mumbai
Hyderabad
Kolkata
Explanation:-
Answer: Option B. -> Mumbai
Question 4. Coverage against loss through stealing by individuals not in a position of trust is called ________
Hospital Insurance
Hull Insurance
Group Insurance
Theft Insurance
Explanation:-
Answer: Option D. -> Theft Insurance
Question 5. An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called ________
Hard Market
Soft Market
Alternative Market
None of the Above
Explanation:-
Answer: Option B. -> Soft Market
Question 6. What is the CRISIL rating for New India Assurance Co Ltd located?
AA/Stable
AAA/Stable
AA/Negative
AAA/Negative
Explanation:-
Answer: Option B. -> AAA/Stable
Question 7. When was Triton Insurance Company Ltd established?
1850
1854
1857
1860
Explanation:-
Answer: Option A. -> 1850
Question 8. In which year New India Assurance Co Ltd nationalized?
1945
1947
1973
1969
Explanation:-
Answer: Option C. -> 1973
Incorporated on July 23rd, 1919 Founded by the House of Tata Founder member “ Sir Dorab Tata. Nationalised in 1973 with merger of Indian companies.
Question 9. Which of the following type of insurance product is/are available in New India Assurance Co Ltd located?
Personal Insurance
Commercial Insurance
Industrial Insurance
All of these
Explanation:-
Answer: Option D. -> All of these
Question 10. When was the Indian Mercantile Insurance established?