Banking and Insurance Awareness Quiz For SBI Clerk Mains/Apprentice Exam 2021

Q1. The Insurance Regulatory and Development Authority (IRDA) was formed on the recommendation of which
committee?

A) Banarji Committee
B) Kutumbe Committee
C) Malhotra Committee
D) Gupte Committee
Ans C

Q2. How many insurance companies were merged to form the Life Insurance Corporation of India?

A) 200
B) 176
C) 245
D) 125
Ans: C

Q3 Life Insurance Corporation (LIC) has launched which centralized web-based workflow-based IT platform for its group business operations?

A) c-LIC

Source: safalta.com

B) c-BTB
C) e-PGS
D) e-GPO
Ans: C

Q4 What does U stands for in ULIP with respect to insurance sector?

A) Unique
B) Unit
C) Umbrella
D) Ultimate
Ans B

Q5 The sole national re-insurer of India, General Insurance Corporation of India (GIC Re) has its headquarter at____

A) New Delhi

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B) Mumbai
C) Kolkata
D) Chennai
Ans: B

Q 6 The Oriental Insurance Company Ltd does not has its branch in which of the following countries?

A) Nepal
B) Kuwait
C) UAE
D) France
Ans D

Q7. The United India Insurance Company has its headquarter in which city?

A) Kolkata
B) New Delhi
C) Mumbai
D) Chennai
Ans: D

Q8. The Insurance Regulatory and Development Authority (IRDA) Act was passed in which year?

A) 1999
B) 2000
C) 1998
D) 1997
Ans: A

Q9. In which bank has Life Insurance Corporation of India (LIC) bought 51% stake recently?

A) HDFC Bank
B) ICICI Bank
C) IDBI Bank
D) IDFC First Bank
Ans C

Q10. What is the paid up capital of Life Insurance Corporation of India (LIC)?

A) Rs 10 crore
B) Rs 2 crore
C) Rs 5 crore
D) Rs 15 crore
Ans C