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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 .
The insurance sector was liberalized in which year?
A)
1998
B)
2000
C)
2001
D)
2003

Correct Answer : Option (B) - 2000

Published On : June 2, 2021
2 .
Which of the following is not in the State list under the Constitution of India?
A)
Insurance
B)
Agriculture
C)
Fisheries
D)
Gambling

Correct Answer : Option (A) - Insurance

Published On : June 2, 2021
3 .
In which year IRDA Act was passed?
A)
1888
B)
1970
C)
1999
D)
2004

Correct Answer : Option (C) - 1999

It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India.

Published On : June 2, 2021
4 .
_____is the amount the policy holder will get from the insurance company if he exits the policy before maturity.
A)
Annuity Value
B)
Paid up value
C)
Lapse Value
D)
Surrendered value

Correct Answer : Option (D) - Surrendered value

Surrender value is the amount the policy holder will get from the insurance company if he exits the policy before maturity, but after payment of premium for full 3 years. So if a person has payed premium for 3 years, he can opt out of the policy and get the money proportionally (it will obviously be less than that he would have got at maturity)

Published On : June 2, 2021
5 .
Where is the headquarters of Aditya Birla Health Insurance Co. Limited located?
A)
Mumbai
B)
Bengaluru
C)
Gurgaon
D)
New Delhi

Correct Answer : Option (A) - Mumbai

Published On : June 2, 2021
6 .
Where is the headquarters of Raheja QBE General Insurance Company Limited located?
A)
Chennai
B)
Mumbai
C)
Gurgaon
D)
Bengaluru

Correct Answer : Option (B) - Mumbai

Published On : June 2, 2021
7 .
Where is the headquarters of Tata AIG General Insurance Co. Ltd. located?
A)
Gurgaon
B)
Lucknow
C)
New Delhi
D)
Mumbai

Correct Answer : Option (D) - Mumbai

Published On : June 2, 2021
8 .
Where is Institute Of Insurance and Risk Management located?
A)
Jaipur
B)
Pune
C)
Hyderabad
D)
Mumbai

Correct Answer : Option (C) - Hyderabad

IIRM is the only dedicated Institution for education in Insurance and Actuarial Science in the World. It is unique in character as the Institute is promoted by the Regulator with the sole aim of developing the required work force for the entire Insurance sector.

Published On : June 2, 2021
9 .
What is called when insurance contract comes into existence when one party makes an offer or proposal of a contract and the other party accepts the proposal?
A)
Principle of Contribution
B)
Utmost Good Faith
C)
Nature of contract
D)
Double Insurance

Correct Answer : Option (C) - Nature of contract

Nature of contract is a fundamental principle of insurance contract. An insurance contract comes into existence when one party makes an offer or proposal of a contract and the other party accepts the proposal.

Published On : June 2, 2021
10 .
Which of the following principles of Insurance denotes insurance of same subject matter with two different companies or with the same company under two different policies?
A)
Double insurance
B)
Principle of Subrogation
C)
Principle of Indemnity
D)
Principle of Proximate Cause

Correct Answer : Option (A) - Double insurance

Double insurance denotes insurance of same subject matter with two different companies or with the same company under two different policies. Insurance is possible in case of indemnity contract like fire, marine and property insurance.

Published On : June 2, 2021