Life Insurance Quiz

1."Stepping into shoes of other" related with:

Principle of CAUSA PROXIMA Principle of Subrogation Principle of Contribution Principle of Indemnity

2. 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

3.Supervision and Development of Insurance in India is in the hands of:

SEBI Insurance Regulatory Development Authority Life Insurance Corporation of India Central Government

4.IRDA was constituted by which of the following committee's recommendations:

Kumarmangalam Committee Malhotra Committee Singh Committee Sahota Committee

5. What is term life insurance?

life insurance for people with stage 4 cancer 

a life insurance policy that allows you to set all of the terms of the contract

life insurance guaranteed to last you entire lifetime

life insurance that expires after a specified period of time

Point of Sale (PoS),TRA Brand Trust Report 2018,UPI solution

1.Which bank has received the Reserve Bank of India's approval to open two representative offices in London and Singapore, recently.

Yes Bank Kotak Mahindra Bank IDBI Bank Punjab National Bank

2.Which bank has allowed depositors to withdraw cash from its Point of Sale (PoS) devices?

Punjab National Bank Bank of India State Bank of India Bank of Baroda

3.Which one among the following was the most-trusted bank according to the TRA Brand Trust Report 2018?

Punjab National Bank State Bank of India HDFC Bank ICICI Bank

4.Which Bank announced that it has on-boarded over 250 corporates on its blockchain platform for domestic and international trade finance?

Axis Bank HDFC Bank ICICI Bank SBI

5.Recently, Which bank launched new products like pre-approved credit card and UPI solution to mark its 124th foundation day?

State Bank of India Punjab National Bank Canara Bank Corporation Bank

Banking - Latest Current Affairs

1.Which bank has signed agreement with CDSL Commodity Repository (CCRL)?

ICICI Bank Axis Bank Punjab National Bank Bank Of Baroda

2.This bank plans to open most of its operational activities at a shared service centre (SSC) at the GIFT City.

Bank of Maharashtra Yes Bank Punjab National Bank Bank of Baroda

3.This bank slapped with a penalty of Rs. 50 million for non-compliance with the directions issued by RBI.

South India Bank Punjab National Bank Bank of Baroda Bank of Maharashtra

4.Which is the first Indian exchange to receive a recognition certificate from the United States Securities and Exchange Commission (SEC)?

Ahmedabad Stock Exchange Madras Stock Exchange Bombay Stock Exchange National Stock Exchange

5.Which bank plans to sell 8.26 % stake in Universal Sompo General Insurance to Dabur Investment Corporation and Sompo Japan?

KVB Bank Canara Bank Karnataka Bank Dhanalakshmi Bank

Banking and Insurance Quiz

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

Term Insurance Policies Money-back Policies Unit-linked Investment Policies Pension Policies

2.Which among the following is the correct full form of ESIC?

Employee’s State Insurance Corporation Employer’s State Insurance Corporation External State Insurance Corporation Exact State Insurance Corporation

3.Under ESIC, Employer contribution rate and Employee contribution rate respectively is –

4.75% & 1.75% 1.75 % & 4.75% 12% & 12% none

4.The process of identifying and classifying the degree of risk represented by a proposed insured. As per insurance sector, what does the term stands for?

Underwriting Collateralized Mortgage Obligation Actuary Annuity

5.A person who identifies, examines and classifies the degree of risk represented by a proposed insured in order to determine whether or not coverage should be provided and, if so, at what rate. In terms of insurance, what does a person stands for?

Underwriter Merchant Banker Forex dealers Registrars

Banking Awareness Questions

1.What are the main functions performed by the IRDA?

Protect the rights of policy holders Adjudication on insurance related matters Promoting insurance business All of these

2.If an insurance policy holder is not satisfied with the award of the insurance ombudsman, he / she can approach to__?

Courts of law Consumer forums Either a or b The award of insurance ombudsman can not be challenged

3.Which one of the following is the example of Insurance depositories?

Central Insurance Repository Limited (CIRL) Karvy Insurance repository Limited NSDL Database Management Limited All of these

4.Which of the following is correct full form of IGMS with reference to insurance sector?

Integrated Grievance Management System Internal Grievance Management System Important Grievance Management System Integral Grievance Management System

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

26% 49% 51% 100%

Financial Awareness Quiz

1.Which of the following insurance companies gives the slogan Prithvi, Agni, Jal, Akash - Sab ki Surakhsa Hamare Paas?

Life Insurance Corporation Oriental Insurance Company New India Assurance General Insurance Company

2.With which of the fields is actuarial science associated?

Insurance Banking Micro-finance Space technology

3.Which of the following terms is used in the field of finance and banking?

Elasticity Inflation Pulse rate Hot waves

4.Expand the term IFRS.

Indian Financial Reporting Standards Indian Financial Reporting Systems International Financial Reporting Standards International Financial Reporting Systems

5.What does the term FSDC, used in financial sectors stand for?

Financial Security and Development Council Financial Stability and Development Council Fiscal Security and Development Convention Fiscal Stability and Development Council

Insurance and Finance G.K.

1.Which of the following types of companies/organisations issue ULIP?

Insurance companies Banks NABARD RBI

2.Which amongst the following is not an insurance company functioning in India?

ICICI prudential ING Vysya National Securities Depository Limited New India Assurance company

3.Which of the following is the only public sector company in the field of life insurance?

General insurance company New India assurance company Oriental insurance company Life Insurance Corporation of India

4."A contract that pledges payment of an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against" is technically known as

Death coverage Life insurance Savings for future Provident fund

5.With which of the following did the State Bank of India enter into a joint venture agreement for undertaking general insurance business?

New India Assurance Ltd. Insurance Australia Group Lehman Brothers Holdings Inc. Allianz

Banking and Insurance Quiz

1.Loan given by the banks to farmers/small shop owners etc. is known as

Corporate loan Business loan Priority sector loan Commercial Loan

2.The Head office of which of the following banks is in Mumbai ?

Punjab National Bank Bank of Maharashtra UCO Bank Union Bank of India

3.Which of the following is NOT a type of cheque issued by an individual?

Bearer cheque Order cheque Crossed cheque Savings cheque

4.What is Financial Inclusion ?

To provide a permanent employment to the unemployment To provide a 100 days job to all those who are in need of a job To provide banking services to all living in remote areas To ensure that all financial transaction amounting Rs. 5,000/- and above are done through banks.

5.Which of the following places in India does not have a stock Exchange?

Kolkata Ahmedabad Mumbai Udaipur

Financial Awareness Quiz

1.In NRE account, rate of interest is linked to

LIBOR Bank PLR RBI

2.In the money market operations , the item widely accepted is

Inter Bank Participation Certificate Certificate of Deposits Treasury Bills None of the above

3.To meet a significant increase in demand for bank credit, a bank may

Make use of excess reserves Borrow from other banks Borrow from the Reserve Bank of India All of the above

4."White Card” is a

Co-branded credit Card without logo of the issuer Credit Card wit logo of both issuer and sponsor Litchi Card issued i Uttaranchal Card used in football by the referee.

5.Under the Credit Guarantee Trust for Medium & Small Enterprises (CGTMSE), loans and advances to Educational Institution are

Covered Not covered CGTMSE is silent about covering the loans to Educational Institutions None of the above

Financial Awareness Quiz

1.When the common people of a nation start getting very high salary or wages , the consumption of the goods likeeatables and white goods, also start increasing .This situation brings which of the following types of inflation in the economy?

1. Cost-push inflation

2. Demand pulls inflation

3. Low inflation

Only 1 & 3 Only 2 Only 3 All of these

2.Which of the following decisions taken by the RBI will promote the concept of financial inclusion in the country?

To appoint some additional entities as business correspondents 

To collect reasonable service charges from the customer in a transparent manner for providing the services

To ask the banks to open at least 50 new accounts daily in non-serviced areas 

Only A & B'

3.Bank Rate means the rate of interest

Charged by commercial banks from borrowers

At which commercial banks discounted bills of their borrowers 

Allowed by commercial banks on their deposits 

At which RBI purchases or rediscounts bills of exchange of commercial banks

4.Agricultural Term Loan is repaid out of

cash accrual 

sale proceeds of crop 

net incremental income 

annual savings of the farmer

5.Which of the following is/are true about the “sub-Prime crisis"? 

1. It is a Mortgage Crisis referring to credit default by the borrowers

2. Sub-Prime Borrowers were those borrowers who were rated low and were high-risk borrowers

3. This crisis originated of negligence in credit rating of the borrowers

Only 1 Only 2 Only 3 All of these

Banking and Economy

1.The Reserve Bank of India has decided to help banks, as a temporary measure, by providing additional liquidity support under LAF. What is the full form of LAF?

Loan Adjustment Fund 

Liquidity Adjustment Facility 

Long Awaited Funds 

Loan against Funds

2.Which of the following is/are different categories of Inflation? 1. Open and suppressed 

2. Cost push 

3. Demand pull

Only 1 Both 1 and 2 Both 2 and 3 All of these

3.The process of the total valuation of the financial capital assets of a country is technically known as

Market Capitalization 

Gross Domestic product 

Net wealth of the country 

Gross Domestic Resources

4.Very often we read about Special Economic Zones (SEZs) in newspapers. What was the purpose of promoting SEZs in India?

1. To promote exports.

2. To attract investment from foreign countries 

3. To help poorest of the poor’s in India as the activities of these zones are reserved only for poor’s and those living below poverty line

Only 1 Only 2 Only 3 Both A and B only

5.Which of the following is the full form of the term SLR as used in the banking sector?

Social Lending Ratio 

Statutory Liquidity Ratio 

Scheduled Liquidity Rate

None of these

Financial Awareness Quiz

1.What is/are the RBI Guideline(s) for the development of Internet Rate Swaps?

Banks can use IRS for hedging and trading both MIFOR is a benchmark for IRS Under ISDA agreement Banks can opt for dual Jurisdiction i.e., Indian as well as common law All of the above

2.Which of the following agencies is associated with the business of Insurance sector as a regulator?

NPCI IRDA SEBI AMFI

3.The hundred rupee currency note in India bears the signature of

Finance Minister of India Prime Minister of India President of India Governor of the RBI

4.Which of the following terms is not used in banking and Finance?

Capital gain Plan Finance Market risk Apartheid

5.Which of the following Rates/Ratios is not covered under the Monetary and credit Policy of the RBI?

Bank Rate Repo Rate Cash Reserve Ratio Exchange Rate of Foreign Currencies

Financial Awareness Quiz

1.Which Scheme will be implemented as an alternative to purchasing of gold in India ?

RBI Gold Bonds Indian Gold Bond Bharat Gold Bond Sovereign Gold Bond

2.what is the full form of MUDRA?

Micro Units Development Refinance Agency 

Macro Units Development Refinance Agency 

Maharashtra Units Development Refinance Agency 

Mumbai Units Development Refinance Agency

3.Who presented the Economic Survey 2014-15 ?

Bimal jalan 

Raghuram Rajan 

Narendra Modi 

Arun Jaitley

4.What is the Meaning of Bull Market ?

A market characterized by rising prices for securities. 

A market characterized by falling prices for securities. 

A market characterized by rising prices for assets. 

A market characterized by falling prices for assets.

5.What is a Insurance premium ?

more expensive health plan 

Money Given before Buying a insurance 

Insurance Payment of one cycle(monthly or yearly ) 

Cheque Rebate