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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 .
Which of the following public sector companies/organizations provides insurance cover to exporters?
A)
NABARD
B)
SIDBI
C)
ECGC
D)
IRDA

Correct Answer : Option (C) - ECGC

Published On : June 1, 2021
2 .
What is the full form of 'ULIP', the term which was in the news recently?
A)
Uniformly Loaded Investment Plan
B)
Universal Loan and Investment Plan
C)
Universal Life and Investment Plan
D)
Unit Linked Insurance Plan

Correct Answer : Option (D) - Unit Linked Insurance Plan

Published On : June 1, 2021
3 .
PNB MetLife was initially launched as MetLife India Insurance Company Limited. Headquarters of one of the share holders, MetLife International Holdings LLC of PNB MetLife is in
A)
New York, U.S.
B)
Geneva, Switzerland
C)
Paris, France
D)
Rome, Italy

Correct Answer : Option (A) - New York, U.S.

PNB MetLife India Insurance Company Limited (PNB MetLife) is one of the leading life insurance companies in India. PNB MetLife has as its shareholders MetLife International Holdings LLC (MIHL), Punjab National Bank Limited (PNB), Jammu & Kashmir Bank Limited (JKB) and others.

Published On : June 1, 2021
4 .
In 1986, Sahyadri Insurance was merged into which of the following companies?
A)
National Insurance Company
B)
United India Insurance Company
C)
Life Insurance Corporation of India (LIC)
D)
General Insurance Corporation of India

Correct Answer : Option (C) - Life Insurance Corporation of India (LIC)

Sahyadri Insurance was one of the insurance companies which was established in the pre-independence era. In 1986, it was merged with Life Insurance Corporation of India (LIC)

Published On : June 1, 2021
5 .
_________won the ‘Best Fraud Intelligence’ award at the 5th Annual Insurance India Summit & Awards 2020
A)
Tata AIA Life
B)
Bajaj Allianz Life
C)
ICICI Prudential Life
D)
Bharti AXA Life

Correct Answer : Option (B) - Bajaj Allianz Life

Bajaj Allianz Life won the ‘Best Fraud Intelligence’ award at the 5th Annual Insurance India Summit & Awards 2020.

Published On : June 1, 2021
6 .
With which of the following did the State Bank of India enter into a joint venture agreement for undertaking Life insurance business?
A)
BNP Paribas Cardif.
B)
New India Assurance Ltd.
C)
Insurance Australia Group
D)
Lehman Brothers Holdings Inc.

Correct Answer : Option (A) - BNP Paribas Cardif.

SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%. 

Published On : June 1, 2021
7 .
When was general insurance business nationalised?
A)
1970
B)
1971
C)
1972
D)
1973

Correct Answer : Option (D) - 1973

The nationalisation of general insurance business from 1 Jan 1973, was the effect of the General Insurance Business (Nationalisation) Act. 107 insurers were grouped into four companies: National Insurance Company, the New India Assurance Company, the Oriental Insurance Company and the United India Insurance Company.

Published On : June 1, 2021
8 .
When was the Export Credit Guarantee Corporation of India established?
A)
1956
B)
1957
C)
1960
D)
1971

Correct Answer : Option (B) - 1957

On 30 July 1957, Export Credit Guarantee Corporation of India Ltd. ( ECGC ) was established. It provides export credit insurance facilities to exporters and banks in India. It functions under the administrative control of Ministry of Commerce & Industry.

Published On : June 1, 2021
9 .
When was the General Insurance Council formed?
A)
1955
B)
1956
C)
1957
D)
1958

Correct Answer : Option (C) - 1957

The General Insurance Council was established under the Indian Insurance Act 1938. It designed a code of conduct to ensure fair business practices.

Published On : June 1, 2021
10 .
What is lapse in insurance?
A)
Termination of an insurance policy due to the insured’s failure to pay the premium.
B)
It is a policy that does not pay benefits to the beneficiary if the cause of death is an accident
C)
It is a policy that pays benefits to the beneficiary if the cause of death is an accident
D)
Both (a) and (b)

Correct Answer : Option (D) - Both (a) and (b)

Published On : June 1, 2021