LIC was established in
- A1947
- B1972
- C1956
- D1969
- ENone of these
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Answer: (C) 1956
RBI Grade B Insurance Awareness Questions with Answers & Explanations
20 Insurance Awareness questions from the General Awareness section of RBI Grade B, each with the correct answer and a worked explanation. Try each question first, then tap Show answer to check. When you're ready, take the timed chapter-wise test to see your all-India rank.
The person who receives the policy amount after the death of the insured is the
- AAgent
- BInsurer
- CNominee
- DSurveyor
- ENone of these
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Answer: (C) Nominee
Health insurance in which the insurer pays the hospital directly is called
- ASurrender
- BLapse
- CCashless claim
- DReimbursement claim
- ENone of these
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Answer: (C) Cashless claim
The principle of "utmost good faith" in insurance is also known as
- ACaveat emptor
- BSubrogation
- CIndemnity
- DUberrimae fidei
- ENone of these
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Answer: (D) Uberrimae fidei
A person who buys an insurance policy is called the
- AInsurer
- BAgent
- CUnderwriter
- DPolicyholder
- ENone of these
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Answer: (D) Policyholder
A policy that lapses because premiums were not paid can often be
- AClaimed in full
- BTransferred to another insurer
- CRevived within a set period
- DNever restarted
- ENone of these
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Answer: (C) Revived within a set period
Pradhan Mantri Fasal Bima Yojana provides
- AVehicle insurance
- BHealth insurance
- CLife insurance
- DCrop insurance
- ENone of these
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Answer: (D) Crop insurance
The insurance regulator in India is
- APFRDA
- BSEBI
- CIRDAI
- DRBI
- ENone of these
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Answer: (C) IRDAI
A policy that lapses because premiums were not paid can often be
- ATransferred to another insurer
- BRevived within a set period
- CNever restarted
- DClaimed in full
- ENone of these
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Answer: (B) Revived within a set period
Pradhan Mantri Jeevan Jyoti Bima Yojana provides
- AHealth insurance
- BLife insurance cover
- CCrop insurance
- DAccident cover only
- ENone of these
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Answer: (B) Life insurance cover
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Timed General Awareness test · 80 questions · instant rank
General insurance business in India was nationalised in
- A1956
- B1969
- C1991
- D1972
- ENone of these
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Answer: (D) 1972
The principle of "utmost good faith" in insurance is also known as
- ASubrogation
- BUberrimae fidei
- CIndemnity
- DCaveat emptor
- ENone of these
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Answer: (B) Uberrimae fidei
Health insurance in which the insurer pays the hospital directly is called
- ACashless claim
- BLapse
- CSurrender
- DReimbursement claim
- ENone of these
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Answer: (A) Cashless claim
The person who receives the policy amount after the death of the insured is the
- AInsurer
- BSurveyor
- CAgent
- DNominee
- ENone of these
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Answer: (D) Nominee
A person who buys an insurance policy is called the
- AAgent
- BPolicyholder
- CInsurer
- DUnderwriter
- ENone of these
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Answer: (B) Policyholder
The "free-look period" allows a policyholder to
- ATransfer the policy to another person
- BSkip premiums for a year
- CReturn a new policy within a set period
- DIncrease the sum assured
- ENone of these
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Answer: (C) Return a new policy within a set period
Pradhan Mantri Fasal Bima Yojana provides
- ACrop insurance
- BVehicle insurance
- CHealth insurance
- DLife insurance
- ENone of these
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Answer: (A) Crop insurance
The headquarters of LIC is in
- ANew Delhi
- BMumbai
- CKolkata
- DChennai
- ENone of these
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Answer: (B) Mumbai
Pradhan Mantri Suraksha Bima Yojana provides
- APension
- BAccident insurance cover
- CLife insurance cover
- DCrop insurance
- ENone of these
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Answer: (B) Accident insurance cover
LIC was established in
- A1972
- B1969
- C1947
- D1956
- ENone of these
Show answer
Answer: (D) 1956
These are RankerClub practice questions written in the RBI Grade B pattern. They are not official SSC/IBPS/RRB papers.
