Q-11- Jacob Bernoulli discovered the ________________
a. law of insurance
b. law of large numbers
c. law of modern insurance
d. none of these
Option-1 The Law of large number was discovered by ‘Jacob Bernoulli’.
Q-12- In LIC logo,below the sanskrit term ‘Yogakshemam Vahamyaham’ is derived from which Hindu epic?
- Rigveda
- Samveda
- Yajurveda
- The Bhagwat Gita
Option-4 The Sanskrit sentence written below the logo is “योगक्षेमं वहाम्यहम्” (Yogakshemam Vahamyaham) which is derived from Bhagavadgita (22nd Verse of 9th Chapter).
Q-13- The__________company was the first insurance company to be set up in India to cater the needs of the European community.
- Bajaj insurance
- National insurance company
- Oriental Life Insurance Company
- Life insurance corporation of India
Option-3 Oriental Life Insurance Company is the first insurance company set up in India in 1818.
Q-14- The Oriental Life Insurance Company set up in 1818 by
- Anita Bhavsar
- Anala Banerjee
- Anju Mohapatra
- Animesh Supriyo
Option-1 The Oriental Life Insurance Company is set up in 1818 in Kolkata by Anita Bhavsar.
Q-15- Which is the first comprehensive legislation enacted for both life and non-life branches of Insurance in India.
a. Insurance Act-1938
b. Insurance Act-1939
c. Insurance Act-1940
d. Insurance Act-1941
Option-1 The Insurance Act,1938 for both life and non-life branches in India.
Q-16- The expanded form of IRDAI is
- Insurance Regulatory and Department Activity of India
- Insurance Regulatory and Development Activity of India
- Insurance Regulatory and Development Authority of India
- Insurance Reconstruction and Development Activity of India
Option-2 The expanded form of IRDAI is ‘Insurance Regulatory and Development Authority of India’
Q-17- The _______________, has allowed cooperative societies to carry on insurance business.
- Insurance (amendment)Act,2000
- Insurance (amendment)Act,2001
- Insurance (amendment)Act,2002
- Insurance (amendment)Act,2003
Option-3 The Insurance(amendment) Act 20002 has allowed cooperative societies to carry on Insurance Business.
Q-18- Fire during any transit will be covered under ________ policy.
- Excess policy
- All risk policy
- Marine policy
- Floating policy
Option-3 All transit risks during journey will be covered under Marine Policy.
Q-19- An insurance policy will be valid only if ________ is paid
- Policy
- Premium
- Document
- None
Option-2 As per 64 VB of The Insurance Act, 1938 required advance premium payment for start any coverage under insurance.
Q-20- ______ are extra benefits under the policy
- Riders
- Loans
- both (a) and (b)
- None
Option-1 Riders are extra benefits under the policy.