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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 written insurance contract that may include all clauses, riders and endorsements. It is called?
A)
Premium
B)
Installment
C)
Policy
D)
Assets

Correct Answer :   Policy

Published On : June 2, 2021
2 .
What is the maximum Time in which the insurer should settle a claim when all documents are submitted
A)
5 days
B)
10 days
C)
20 days
D)
30 days

Correct Answer :   30 days

Published On : June 2, 2021
3 .
In Insurance policies we always find a date which is “Date of Maturity”. What does it mean?
A)
This is the date on which the policy was sold to the customer/person insured
B)
This is the date on which the contract between the person and insurance company will come to an end
C)
This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her
D)
None of the above

Correct Answer :   This is the date on which the contract between the person and insurance company will come to an end

Published On : June 2, 2021
4 .
Under the Sampoorna Gram Bima Yojana, what is the minimum number of households to be covered in one village?
A)
50
B)
70
C)
100
D)
120

Correct Answer :   100

SBG Yojana identifies at least one village (with a minimum of 100 households) in each of the revenue districts of the country and intends to cover all the households with a minimum of one Rural Postal Life Insurance (RPLI) in that village.

Published On : June 2, 2021
5 .
State financial Corporations give assistance mainly to develop which of the following?
A)
Small and medium scale industries
B)
Large scale industries
C)
Agricultural sector
D)
Cotton industry

Correct Answer :   Small and medium scale industries

Published On : June 2, 2021
6 .
Bonds issued by Indian entities outside India but denominated in Indian rupees are known as
A)
Desi Bonds
B)
Masala Bonds
C)
NRI Bonds
D)
Pravasi Bonds

Correct Answer :   Masala Bonds

Published On : June 2, 2021
7 .
Which is the sole reinsurance company in the Indian insurance market?
A)
Life Insurance Corporation of India
B)
United India Insurance Company Limited
C)
General Insurance Corporation of India
D)
New India Assurance Company Limited

Correct Answer :   General Insurance Corporation of India

As a sole reinsurer in the domestic reinsurance market, GIC(General Insurance Corporation) provides reinsurance to the direct general insurance companies in the Indian market. GIC receives statutory cession of 10% on each and every policy subject to certain limits.

Published On : June 2, 2021
8 .
Choose the correct statement regarding ULIP
A)
Investment tool suitable for short to medium term
B)
Tax benefit available only on tax saving funds
C)
Easy exit possible
D)
Offers tax benefits

Correct Answer :   Offers tax benefits

Published On : June 2, 2021
9 .
Which of the following is the first Indian Life Insurance Company established in India?
A)
Life Insurance Corporation
B)
Bombay Mutual Life Assurance Company
C)
Empire of India
D)
Oriental Life Insurance Company

Correct Answer :   Bombay Mutual Life Assurance Company

In 1818, Oriental Life Insurance Company was started however it was started by Europeans. First Indian Life Insurance Company was Bombay Mutual Life Assurance company in 1870

Published On : June 2, 2021
10 .
Selling of insurance product through banks is called?
A)
Bancassurance
B)
Endowment
C)
Actuarization
D)
Mortization

Correct Answer :   Bancassurance

Bancassurance is when an insurance company sells its insurance policy thorugh a bank network to the customer of the bank.

Published On : June 2, 2021