Top 350+ Solved Banking and Finance MCQ Questions Answer
Q. The person who seeks protection against a risk and to whom theinsurance policy is issued is known as ………….
a. Insurer
b. customer
c. insured
d. creditor
Q. IRDA stands for ……..
a. Insurance Regulatory and Development Authority
b. Industrial Development and development Authority
c. Insurance Restructuring and Development Authority
d. Insurance Refinancing and Development Authority
Q. In the case of life insurance HLV refers to………….
a. Home Legal Value
b. Human Life Value
c. Human Legal Value
d. House Length Value
Q. ………. of a life policy means transferring the rights of the insured in respect ofthe policy to another one
a. Nomination
b. Consideration
c. Assignment
d. Agreement
Q. Both assignment and nomination are possible in the case of …………insurance policies
a. life
b. fire
c. marine
d. vehicle
Q. …………….. is the price paid by the insured for the risk undertaken by theinsurer
a. Wages
b. premium
c. salary
d. compensation
Q. ……………….. schemes are intended to insure a group of individual together
a. Insurance
b. wages
c. salary
d. group insurance
Q. Reinstatement policy is related in the case of which policy
a. A Life insurance policy
b. Marine insurance policy
c. Fire insurance policy
d. Group insurance policy
Q. …………. means selling of insurance policies and products through bankingfirms
a. Assurance
b. bancassurance
c. insurance
d. policy
Q. The General Insurance Corporation of India was formed in the year …….
a. 1973
b. 1948
c. 1956
d. 1984