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General Knowledge(GK) (or) General Awareness

Welcome to the General Knowledge Section of Free Time Learning. As we are aware General Knowledge (GK) is a very important area in all the competitive exams held in the country. Nowadays, a good knowledge of general awareness is very important in clearing any competitive and government recruitment examinations.

These General Knowledge Question are very important and usefull to UPSC, IAS/PCS, UPPSC, IBPS, SBI, RBI, SSC, CGL, Railway, APPSC, TSPSC, KPSC, TNPSC, TPSC, UPPSC, MPSC, RPSC, BPSC, MPPSC, UKPSC, MPSC, and other competitive exams.

1 .
What is the Principle of Insurance called under which insured must always try his level best to minimize the loss of his insured property, in case of uncertain events?
A)
Principle of Proximate Cause
B)
Principle of Loss Minimization
C)
Principle of Subrogation
D)
Principle of Indemnity

Correct Answer :   Principle of Loss Minimization

According to the Principle of Loss Minimization, insured must always try his level best to minimize the loss of his insured property, in case of uncertain events like a fire outbreak or blast, etc. The insured must take all possible measures and necessary steps to control and reduce the losses in such a scenario.

Published On : June 2, 2021
2 .
Where is the headquarters of Exide Life Insurance Co. Ltd. located?
A)
Bengaluru
B)
Mumbai
C)
Gurgaon
D)
New Delhi

Correct Answer :   Bengaluru

Published On : June 2, 2021
3 .
National Insurance Company Ltd. is a type of?
A)
Re-insurance Company
B)
Life Insurance Company
C)
General Insurance Company
D)
All of the above

Correct Answer :   General Insurance Company

Life insurance company is one which provides insurance for death. General Insurance company is one which deals in all other types of insurance other than death like vehicle insurance, House Insurance etc. It is also called non-life insurance.,

Published On : June 2, 2021
4 .
_______is the length of time after a premium is due and unpaid during which the policy, including all riders, remains in force.
A)
Prompt Period
B)
Void Period
C)
Null Period
D)
Grace Period

Correct Answer :   Grace Period

Grace Period – The length of time (usually 31 days) after a premium is due and unpaid during which the policy, including all riders, remains in force. If a premium is paid during the grace period, the premium is considered to have been paid on time.

Published On : June 2, 2021
5 .
Study the table below and find out which one o them is wrongly matched [ As on 5 March 2015 ] Insurance Company Chairman
A)
The New India Assurance Co. Ltd. Milind Kharat
B)
Oriental Insurance Company Ltd Dr. A.K.Saxena
C)
Life Insurance Corporation of India Shri S. K. Roy
D)
National Insurance Company Limited Shri A.V. Girija Kumar

Correct Answer :   The New India Assurance Co. Ltd. Milind Kharat

Published On : June 2, 2021
6 .
England-based Willis Group Holdings, the third largest insurance brokerage in the world recently picked up 49 per cent stake in which Indian Insurance Brokerage Company?
A)
Aditya Birla Insurance Broker
B)
Almondz Insurance Brokers
C)
IndiaFirst Life Insurace
D)
Heritage Insurance Brokers

Correct Answer :   Almondz Insurance Brokers

Published On : June 2, 2021
7 .
A policy that can be cancelled or have the premiums raised by the insurer on a specific anniversary date, subject to certain reasons written into the policy is known as_____
A)
Conditional Contract
B)
Conditional Receipt
C)
Consequential loss
D)
Conditional Renewable

Correct Answer :   Conditional Renewable

A contract of health insurance stating that the policy is renewable under certain conditions as defined in the contract.

Published On : June 2, 2021
8 .
A property or liability insurance contract in which all risks of loss are covered is called
A)
Aleatory contract
B)
Aggregate Limits
C)
All-Risk Agreement
D)
Affirmative Warranty

Correct Answer :   All-Risk Agreement

A property or liability insurance contract in which all risks of loss are covered except those specifically excluded.

Published On : June 2, 2021
9 .
Perils that cannot reasonably be guarded against, such as floods and earthquakes is known as _____
A)
Acts of God
B)
Actual Loss Ratio
C)
Combined Ratio
D)
Actuarial Cost Assumptions

Correct Answer :   Acts of God

Published On : June 2, 2021
10 .
______in insurance, is the splitting or spreading of risk among multiple parties.
A)
Coinsurance
B)
Blanket Bond
C)
Reinsurance
D)
Blanket Assign

Correct Answer :   Coinsurance

Published On : June 2, 2021