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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 .
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 :   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
2 .
When was general insurance business nationalised?
A)
1970
B)
1971
C)
1972
D)
1973

Correct Answer :   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
3 .
When was the Export Credit Guarantee Corporation of India established?
A)
1956
B)
1957
C)
1960
D)
1971

Correct Answer :   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
4 .
When was the General Insurance Council formed?
A)
1955
B)
1956
C)
1957
D)
1958

Correct Answer :   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
5 .
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 :   Both (a) and (b)

Published On : June 1, 2021
6 .
The Coinsurance is specified by
A)
Ratio
B)
Percentage
C)
Equity
D)
All of the above

Correct Answer :   Percentage

Published On : June 1, 2021
7 .
In pursuance of which one of the following was the General Insurance Corporation of India was formed?
A)
General Insurance Business (Nationalization) Act, 1972
B)
Insurance Amendment Act, 2002
C)
Insurance Act, 1938
D)
None of the above

Correct Answer :   General Insurance Business (Nationalization) Act, 1972

Published On : June 1, 2021
8 .
Which of the following words/ terms is closely associated with the insurance business
A)
Quest
B)
Donation
C)
Archives
D)
Actuary

Correct Answer :   Actuary

Published On : June 1, 2021
9 .
When was the General Insurance Corporation of India incorporated?
A)
1970
B)
1971
C)
1972
D)
1973

Correct Answer :   1972

Published On : June 1, 2021
10 .
With which of the following did the State Bank of India enter into a joint venture agreement for undertaking general insurance business?
A)
Allianz
B)
Insurance Australia Group
C)
New India Assurance Ltd.
D)
Lehman Brothers Holdings Inc.

Correct Answer :   Insurance Australia Group

Published On : June 1, 2021