Latest Insurance and Finance General Knowledge(GK) Questions and answers

1 .

______is an insurance product that pays out income to the holder at specified intervals usually after retirement.

A)

Endowment

B)

Annuity

C)

Bonus

D)

Term

Correct Answer : Option (B) - Annuity

Annuity is an insurance product that pays out income to the holder at specified intervals usually after retirement. So if you want a steady supply of money after retirement apply for an annuity plan

2 .

Which of the term is the used when a policy has lapsed due to non-payment of premium?

A)

Policy not in force

B)

Policy Unforced

C)

Policy Backed

D)

Policy in variance

Correct Answer : Option (A) - Policy not in force

3 .

Where is the headquarters of Magma HDI General Insurance Company Limited located?

A)

Gurgaon

B)

Lucknow

C)

New Delhi

D)

Kolkata

Correct Answer : Option (D) - Kolkata

Kolkata, West Bengal

4 .

Where is the headquarters of Religare Health Insurance Company Limited located?

A)

Chennai

B)

Mumbai

C)

Gurgaon

D)

New Delhi

Correct Answer : Option (C) - Gurgaon

Gurgaon, Haryana.

5 .

Where is the headquarters of Apollo Munich Health Insurance Company Limited located?

A)

Gurgaon

B)

Chennai

C)

Lucknow

D)

New Delhi

Correct Answer : Option (A) - Gurgaon

Gurgaon, Haryana.

6 .

Where is the headquarters of Star Health and Allied Insurance Company Limited located?

A)

Hyderabad

B)

Chennai

C)

New Delhi

D)

Mumbai

Correct Answer : Option (B) - Chennai

Chennai, Tamil Nadu

7 .

Where is National School of Insurance Education & Research located?

A)

Mumbai

B)

Jaipur

C)

Bengaluru

D)

Hyderabad

Correct Answer : Option (C) - Bengaluru

8 .

______is the ratio of the number of life insurance policy that lapsed within a given period to the number of policy in Force at the beginning of that period.

A)

Paid up ratio

B)

Annuity ratio

C)

Force ratio

D)

Lapse ratio

Correct Answer : Option (D) - Lapse ratio

9 .

An environment where insurance is plentiful and sold at a lower cost, also known as a Buyers market is called

A)

Hard Market

B)

Soft Market

C)

Alternative Market

D)

None of the Above

Correct Answer : Option (B) - Soft Market

A period of time during which insurance companies assess low premiums and therefore achieve relatively low profits.

10 .

_____are assumptions about rates of investment earnings, mortality, turnover and distribution or actual ages at which employees are likely to retire.

A)

Actuarial Cost Assumptions

B)

Acts of God

C)

Combined Ratio

D)

Actual Loss Ratio

Correct Answer : Option (A) - Actuarial Cost Assumptions