INSURANCE & FINANCE
A)
Bharti AXA General Insurance Co. Ltd.
B)
Bajaj Allianz General Insurance Co. Ltd
C)
Aditya Birla Health Insurance Co. Ltd
D)
Reliance General Insurance Co.Ltd

Correct Answer : Option (B) - Bajaj Allianz General Insurance

Note :

Bajaj Allianz General Insurance announced its partnership with deep-tech startup TropoGo for the distribution of a drone Insurance product. With this Bajaj Allianz General Insurance becomes the 4th insurer to offer drone cover. HDFC Ergo was the first insurer to launch a drone insurance cover in June 2020, followed by ICICI Lombard in August 2021, and Tata AIG last month.
 
About the drone Insurance : The drone insurance product will cover Damage to the Drone and Payload it carries Third Party Liability, BVLOS (Beyond Visual Line of Sight) Endorsement, and Night Flying Endorsement.

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A)
SBI Life Insurance
B)
Max Life Insurance
C)
HDFC Life Insurance
D)
ICICI Prudential Life Insurance

Correct Answer : Option (C) - HDFC Life Insurance

Note : The Competition Commission of India (CCI) has approved the accquisition of 100% shareholding in Exide Life Insurance Company Limited by HDFC Life Insurance Company. The acquisition has been approved under Section 31(1) of the Competition Act, 2002.

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A)
EIB, IDB
B)
AIIB, ADB
C)
WB, IMF
D)
EDB, EBRD

Correct Answer : Option (B) - AIIB, ADB

Note : Beijing-based multilateral development bank Asian Infrastructure Investment Bank (AIIB) and the Asian Development (ADB) will co-finance a USD 2 billion loan for India to procure COVID-19 vaccines under ADB’s Asia Pacific Vaccine Access Facility (APVAX).

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A)
C.K. Mishra
B)
Amit Garg
C)
Sujoy Bose
D)
V Balasubramaniam

Correct Answer : Option (A) - C.K. Mishra

Note : The International Financial Services Centres Authority (IFSCA) has constituted an Expert Committee to recommend  approach towards development of Sustainable Finance Hub at IFSC. The expert committee will be chaired by Shri C.K. Mishra, Former Secretary to Government of India, Ministry of Environment, Forest & Climate Change.

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A)
VIKAS
B)
MITRA
C)
BHASKAR
D)
PRAGATI

Correct Answer : Option (D) - PRAGATI

Note :

Life Insurance Corporation of India (LIC) has launched a new mobile app ‘PRAGATI’ for the exclusive use of its Development Officers. PRAGATI stands for “Performance Review Application, Growth And Trend Indicator”. LIC has been taking a lot of customer-centric and digital initiatives for ease of operations for its customers and field force.
 
About the ‘PRAGATI’ app : The Pragati app will help the Development Officers to get near real-time information about the performance of their agency force in critical areas of business performance like premium collection, agency activisation, prospective outperformers, etc apart from monitoring their team on activities such as usage of agents mobile app and NACH validation. The app also provides development officers with a calculator to measure their cost ratio.

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A)
ECI
B)
RBI
C)
LIC
D)
ISRO

Correct Answer : Option (C) - LIC

Note : Life Insurance Corporation of India recently launched a mobile app called “Ananda mobile app” for its agents and intermediaries in order to onboard the prospective customers. ANANDA stands for Atma Nirbhar Agents New Business Digital Application(ANANDA). ANANDA is the paperless solution for new business processes.

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A)
Key-Person Insurance
B)
Hospital Insurance
C)
Multi-Peril Insurance
D)
Renewable Term Insurance

Correct Answer : Option (A) - Key-Person Insurance

Note : Key person insurance is simply life insurance on the key person in a business. In a small business, this is usually the owner, the founders or perhaps a key employee or two.

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A)
Hospital Insurance
B)
Renewable Term Insurance
C)
Social Insurance
D)
Group Insurance

Correct Answer : Option (B) - Renewable Term Insurance

Note : Renewable Term is a clause in a term insurance contract that allows the beneficiary to extend the coverage term for a set period of time without having to re qualify for coverage.

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A)
Pension Policies
B)
Money back Policies
C)
Term Insurance Policies
D)
Unit Linked Investment Policies

Correct Answer : Option (D) - Unit Linked Investment Policies

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A)
Vesting date
B)
Cooling date
C)
Preferred date
D)
Bonus date

Correct Answer : Option (A) - Vesting date

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