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 .

______in insurance, is the splitting or spreading of risk among multiple parties.

Coinsurance

Blanket Bond

Reinsurance

Blanket Assign

Correct Answer : Coinsurance

Published On : June 2, 2021

2 .

The Payment to the policyholder at the end of the stipulated term of the policy is called

Surrender Value

Maturity Claim

Sum Assured

Paid-up value

Correct Answer : Maturity Claim

The Payment to the policyholder at the end of maturity date is known as maturity claim.

Published On : June 2, 2021

3 .

_____is the amount of money an insurance policy guarantees to pay before any bonuses are added.

Maturity Value

Fund

Annuity

Sum Assured

Correct Answer : Sum Assured

Sum Assured is the guaranteed amount the policyholder will receive.

Published On : June 2, 2021

4 .

_______ plans provide for a “pension” or a mix of a lump sum amount and a pension to be paid to the policyholder or his spouse.

Liquidity

Cover

Annuity

Fund

Correct Answer : Annuity

A contract sold by an insurance company designed to provide payments to the holder at specified intervals.

Published On : June 2, 2021

5 .

Coverage for property taken or destroyed by breaking and entering the insured’s premises, burglary or theft, forgery or counterfeiting, fraud, kidnap and ransom, and off-premises exposure is known as

Jewellers Block Policy

Burglary Policy

Fire Policy

None of the Above

Correct Answer : Burglary Policy

Insurance against loss or damage resulting from or following the unlawful breaking and entering of designated premises or places of safekeeping is known as Burglary policy. This Policy is designed to cover business premises only like godown, factory, office etc.

Published On : June 2, 2021

6 .

A demand made by the insured, or the insured’s beneficiary, for payment of the benefits as provided by the policy is known as_____

Claim

Aggregate

Request

Demanding

Correct Answer : Claim

An insurance claim is a formal request to an insurance company asking for a payment based on the terms of the insurance policy.

Published On : June 2, 2021

7 .

2020 - 2021 Limit of FDI in Insurance sector :

49%

74%

80%

100%

Correct Answer : 74%

Union Finance Minister Nirmala Sitharaman announced an increase in Foreign Direct Investment (FDI) limit in insurance from 49% to 74%. Tabling the Union Budget for 2020-21, she said, “We propose to amend the Insurance Act, 1938 and will launch a new investor charter for investor protection.

Published On : June 2, 2021

8 .

The punch line of the advertisement of which of the following organization is “Jindagi ke sath bhi Jindagi ke bad bhi”?

ICICI Prudential

New India Assurance

General Insurance Corporation

Life Insurance Corporation Of India

Correct Answer : Life Insurance Corporation Of India

Published On : June 2, 2021

9 .

What is the present limit of FDI allowed in the insurance sector?

50%