General Insurance Quiz

1.What type of life insurance offers the lowest rates?

Universal Life Variable Life Permanent Life Term Life Insurance

2.Who is the person that receives the proceeds from your life insurance policy?

Someone you don’t know. On old buddy from school. The beneficiary you choose when purchasing your life insurance. The next-door neighbor’s dog.

3.Most Americans think life insurance will cost:

More than expected Much more than it really costs Slightly less than it really costs About what they expect to pay

4. In order to determine the rates they charge, insurance companies look at:

Potential dangerous hobbies Tobacco use Family health history All of the above

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

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

Sterling Insurance Quiz

1.In order to determine the rates they charge, insurance companies look at
Family health history Potential dangerous hobbies Smoking/drinking history All of the above

2.You surrender your life insurance policy, if you:
Decrease the amount of life insurance that you need Cancel a life insurance policy before the maturity date Donate the value of the policy to a first degree Donate the cash surrender value of the policy

3.The main purpose of life insurance is to
Make up for loss of earnings if an insured person is unable to ever work again Pay for urgent medical expenses to save the life of an insured person if that is needed Meet an insured person’s debts and other financial commitments in the event of death Provide a lump sum if an insured person is diagnosed with a life-threatening illness

4.The best time to apply for life insurance is
Today, because you don’t know what might happen to you tomorrow Tomorrow, because you shouldn’t do now what you can put off until then As soon as you have any dependants, whenever in the future that might be As soon as you develop a serious medical condition, so you can be covered for it.

5.Today, medical examinations and tests are
Never required for a life insurance application Sometimes required for a life insurance application Usually required for a life insurance application Always required for a life insurance application.

Life Insurance Quiz

1.This insurance provides coverage for a specific period of time, usually from one to 30 years:
Universal Life Insurance Whole Life Insurance None of the above Term Life Insurance

2.The cash surrender value of a permanent life insurance is
Also called the death benefit. The amount available in cash upon the policy owner's termination before it becomes payable by death. The payment to the insurance company for insurance coverage. A refund of excess premium paid to the owner of an individual participating life insurance policy.

3.Which of the following policies is not a permanent life insurance?
Universal Life Insurance Variable Life Insurance Whole Life Insurance Term Life Insurance

4.Which life insurance insures two individuals in one insurance plan?
Whole Life Insurance Universal Life Insurance Survivorship Life Insurance Term Life Insurance

5.What is the rule of thumb on how much life insurance coverage you need?
Three times your current assets Five to seven times your annual gross income Five times your assets Twice the value of your house