Corporate Insurance Agent Exam - 250 Real Unique MCQs

1. Which of the following correctly describes the primary purpose of insurance?

a) To avoid taxes

b) To reduce investment risk

c) To spread risk among many

d) To earn profit for agents

Answer: c

2. The Insurance Regulatory and Development Authority of India (IRDAI) was established in:

a) 1948

b) 1999

c) 1956

d) 2015

Answer: b

3. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

4. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c
5. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

6. Which of these is a feature of a term life insurance policy?

a) Savings component

b) No maturity benefit

c) Regular dividends

d) Investment in equity

Answer: b

7. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

8. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

9. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

10. Which of the following is a type of general insurance?

a) Endowment plan

b) Motor insurance

c) Whole life policy

d) Term insurance

Answer: b

11. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

12. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

13. What is the meaning of 'Customer Lifetime Value'?

a) Maximum premium value from one customer

b) Value of customer over time

c) Claim settlement value

d) Investment return

Answer: b

14. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

15. A key attribute of good customer service is:

a) Ambiguity

b) Aggressiveness

c) Empathy

d) Silence

Answer: c

16. Where can a customer register a complaint online with IRDAI?

a) IRDAmail.com

b) IGMS portal

c) Agent portal

d) SEBI Grievance Cell

Answer: b

17. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh
c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

18. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

19. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

20. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

21. Which Act governs insurance regulation in India?

a) Banking Regulation Act

b) Insurance Act 1938

c) Companies Act
d) Arbitration Act

Answer: b

22. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

23. The 'insurable interest' must exist at the time of:

a) Proposal

b) Claim

c) Premium payment

d) Contract signing

Answer: a

24. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement

Answer: c

25. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix
Answer: b

26. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

27. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c

28. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

29. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c
30. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

31. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

32. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

33. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

34. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

35. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement

Answer: c

36. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

37. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

38. Pre-existing diseases are usually covered after:

a) 1 day
b) 1 month

c) 1 year

d) 4 years

Answer: d

39. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

40. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

41. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

42. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

43. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

44. Which of the following correctly describes the primary purpose of insurance?

a) To avoid taxes

b) To reduce investment risk

c) To spread risk among many

d) To earn profit for agents

Answer: c

45. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

46. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE
d) BCG Matrix

Answer: b

47. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

48. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

49. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

50. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

51. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

52. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

53. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

54. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c
55. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

56. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

57. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

58. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

59. Corporate agents can represent how many insurers in each line of business?
a) Unlimited

b) One

c) Two

d) Three

Answer: b

60. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

61. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

62. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

63. Which of the following is covered by health insurance?

a) Car theft
b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

64. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

65. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

66. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

67. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

68. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

69. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

70. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

71. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE
d) BCG Matrix

Answer: b

72. Where can a customer register a complaint online with IRDAI?

a) IRDAmail.com

b) IGMS portal

c) Agent portal

d) SEBI Grievance Cell

Answer: b

73. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

74. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

75. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage
Answer: b

76. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

77. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

78. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

79. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b
80. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

81. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

82. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

83. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c

84. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

85. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

86. What is the meaning of 'Customer Lifetime Value'?

a) Maximum premium value from one customer

b) Value of customer over time

c) Claim settlement value

d) Investment return

Answer: b

87. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

88. Life insurance covers which of the following risks?

a) Fire damage
b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c

89. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement

Answer: c

90. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

91. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

92. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

93. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c

94. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

95. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

96. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

97. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

98. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

99. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

100. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage
Answer: b

101. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

102. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

103. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

104. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c
105. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

106. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

107. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

108. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

109. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

110. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

111. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

112. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

113. Which of the following correctly describes the primary purpose of insurance?

a) To avoid taxes
b) To reduce investment risk

c) To spread risk among many

d) To earn profit for agents

Answer: c

114. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

115. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

116. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement

Answer: c

117. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

118. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

119. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

120. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

121. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

122. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

123. What is the meaning of 'Customer Lifetime Value'?

a) Maximum premium value from one customer

b) Value of customer over time

c) Claim settlement value

d) Investment return

Answer: b

124. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

125. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement
Answer: c

126. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

127. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c

128. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

129. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b
130. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

131. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

132. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

133. What is the meaning of 'Customer Lifetime Value'?

a) Maximum premium value from one customer

b) Value of customer over time

c) Claim settlement value

d) Investment return

Answer: b

134. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

135. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

136. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

137. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

138. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

139. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

140. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

141. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

142. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

143. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

144. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

145. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

146. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

147. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

148. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

149. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

150. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

151. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

152. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement

Answer: c

153. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

154. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c
155. A contract of insurance is:

a) A social contract

b) A wagering contract

c) A contract of indemnity

d) A lease agreement

Answer: c

156. Which of the following is a type of general insurance?

a) Endowment plan

b) Motor insurance

c) Whole life policy

d) Term insurance

Answer: b

157. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

158. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

159. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

160. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

161. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

162. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

163. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

164. Which of the following correctly describes the primary purpose of insurance?

a) To avoid taxes

b) To reduce investment risk

c) To spread risk among many

d) To earn profit for agents

Answer: c

165. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

166. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

167. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

168. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

169. Where can a customer register a complaint online with IRDAI?

a) IRDAmail.com

b) IGMS portal

c) Agent portal

d) SEBI Grievance Cell

Answer: b

170. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

171. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI
d) AMFI

Answer: c

172. Which of the following is a type of general insurance?

a) Endowment plan

b) Motor insurance

c) Whole life policy

d) Term insurance

Answer: b

173. Where can a customer register a complaint online with IRDAI?

a) IRDAmail.com

b) IGMS portal

c) Agent portal

d) SEBI Grievance Cell

Answer: b

174. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

175. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three
Answer: b

176. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

177. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

178. Which of the following is a type of general insurance?

a) Endowment plan

b) Motor insurance

c) Whole life policy

d) Term insurance

Answer: b

179. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c
180. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

181. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

182. Which of the following correctly describes the primary purpose of insurance?

a) To avoid taxes

b) To reduce investment risk

c) To spread risk among many

d) To earn profit for agents

Answer: c

183. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

184. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

185. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

186. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

187. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

188. Pre-existing diseases are usually covered after:

a) 1 day
b) 1 month

c) 1 year

d) 4 years

Answer: d

189. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

190. A key attribute of good customer service is:

a) Ambiguity

b) Aggressiveness

c) Empathy

d) Silence

Answer: c

191. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

192. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

193. Life insurance covers which of the following risks?

a) Fire damage

b) Theft

c) Death of the insured

d) Machinery breakdown

Answer: c

194. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

195. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

196. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

197. What is the meaning of 'Customer Lifetime Value'?

a) Maximum premium value from one customer

b) Value of customer over time

c) Claim settlement value

d) Investment return

Answer: b

198. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

199. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

200. Which of the following is a type of general insurance?

a) Endowment plan

b) Motor insurance

c) Whole life policy

d) Term insurance
Answer: b

201. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

202. What is the meaning of 'Customer Lifetime Value'?

a) Maximum premium value from one customer

b) Value of customer over time

c) Claim settlement value

d) Investment return

Answer: b

203. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

204. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b
205. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

206. Which Act governs insurance regulation in India?

a) Banking Regulation Act

b) Insurance Act 1938

c) Companies Act

d) Arbitration Act

Answer: b

207. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

208. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

209. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

210. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

211. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

212. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

213. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

214. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

215. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

216. Corporate agents are regulated by:

a) RBI

b) SEBI

c) IRDAI

d) AMFI

Answer: c

217. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

218. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

219. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

220. Which ancient practice is considered a precursor to modern insurance?

a) Shipbuilding

b) Astrology

c) Bottomry loans

d) Crop rotation

Answer: c

221. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

222. Corporate agents can represent how many insurers in each line of business?

a) Unlimited

b) One

c) Two

d) Three

Answer: b

223. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

224. Which of the following is a type of general insurance?

a) Endowment plan

b) Motor insurance

c) Whole life policy

d) Term insurance

Answer: b

225. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation
Answer: b

226. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

227. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

228. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b

229. Which of the following is covered by health insurance?

a) Car theft

b) Hospitalization costs

c) Fire damage

d) Travel cancellation

Answer: b
230. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

231. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c

232. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

233. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

234. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

235. Which model describes service quality in insurance?

a) SWOT

b) SERVQUAL

c) PESTLE

d) BCG Matrix

Answer: b

236. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

237. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts

b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

238. The principle of 'Utmost Good Faith' in insurance means:

a) Hiding facts
b) Revealing all material facts

c) Ignoring details

d) Filing only claims

Answer: b

239. Cashless hospitalization facility is available through:

a) Insurance agents

b) Policyholder

c) TPAs

d) Police

Answer: c

240. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

241. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

242. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month
c) 1 year

d) 4 years

Answer: d

243. What is the maximum compensation that Ombudsman can award?

a) Rs. 5 lakh

b) Rs. 10 lakh

c) Rs. 30 lakh

d) Rs. 50 lakh

Answer: c

244. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

245. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

246. Which is the first Indian life insurance company?

a) LIC

b) National Insurance Co.

c) Bombay Mutual Assurance Society

d) Oriental Insurance Co.

Answer: c

247. What does a fire insurance policy generally exclude?

a) Damage due to fire

b) Damage due to war

c) Damage due to electrical short circuit

d) Smoke damage

Answer: b

248. Ombudsman services are available for:

a) Corporate policies only

b) Government schemes only

c) Personal insurance policies

d) Motor insurance only

Answer: c

249. Pre-existing diseases are usually covered after:

a) 1 day

b) 1 month

c) 1 year

d) 4 years

Answer: d

250. Marine insurance covers:

a) Health of seafarers

b) Fire on land

c) Theft of ships and cargo

d) Stock market losses

Answer: c