QUIZ and mock test to prepare for LIC (Life Insurance Corporation of India) and other other Insurance and Finance Company.

Life Insurance Corporation of India, is a India’s largest life insurance company, LIC is also the country’s largest investor company. It is entirely owned by the Government of India. It was founded in 1956.

Its headquarters are in Mumbai, India’s financial capital. LIC have 8 zonal offices and 101 divisional offices and those are located in different parts of India. Nearly 2048 offices are located in many cities of the country, and more than one lakh of its agents are spread across India.

LIC (Life Insurance Corporation) announces the recruitment of employers every year. The below QUIZ and mock test will help you to prepare for the final examination of LIC and other Insurance and Finance Company.

Lets try your level best

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1. The IRDA has the power make regulations under section of ….the insurance act 1938


2. A proposal to increase the Foreign Direct Investment (FDI) limit in the insurance sector from the current 26% to ……….is awaiting approval in parliament


3. The indirect marketing channels include


4. The level of risk is normally assessed in terms of the


5. The ….of the policy states that the proposal declaration signed by the proposer form the basis of the contract


6. The word risk is used to describe the possibility of an unfavorable event occurring


7. ….…. influence the operation of the peril


8. ………..… refers to the transfer of the title, rights interests of the insurance policy


9. The person seeking insurance is called……….


10. Following are standard age proofs


11. …….…. is the evidence of contract between the insured the insurance company


12. IRDA regulations require that the decision on the proposal has to be passed within


13. The insurance company issues…..after accepting proposal


14. In general insurance, insurable interest need to exist at the time of


15. A person who receives policy money after death of policyholder is…….


16. What information should the agent’s report contain


17. Which of the following is not a safeguard practiced by an insurance company in non medical underwriting


18. The insurance company carries the risks of the person insured in accordance with


19. Which is the savings element of an endowment plan


20. BSE stands for


21. Investment in gold provides


22. Should the professional adviser take account of a clients liabilities as part of their savings and investment advice


23. In the case of ……the investors are the lenders who receive interest on their loan


24. …..…. can be used to enhance the death cover amount in a policy at a nominal cost


25. What is a no claim bonus


26. What will happen if a company finds itself exposed to adverse selection


27. Which of the following is not a post office savings product


28. Which of the following diseases is not covered under the Cl rider


29. Determine the order in which the agent should go about before recommending suitable insurance product to the client a) identifying needs b) prioritizing needs c) quantifying needs


30. Documents as driving license, passport are accepted as


31. At the time of the plan conversion does the life insured require to undergo a medical check up


32. Young married with no children- single income family couple needs to


33. There will sometimes be situations where clients have been mis-sold policies that do not match their needs. Then the agent can gave advice of …..to client


34. Mr. Rahul took endowment policy pay premium for 7 year death take place in 7th year. Nominee will get


35. ……. Should be taken at each stage of the recommendation


36. ……..…. are additional benefits that can be added to insurance policies


37. A life insurance agent receives his remuneration as per insurance act


38. The process of needs by an insurance agent is a) identification of real needs b) identification of current and future needs c) quantification and prioritization of needs d)financial planning review


39. A fact finding form is divided into following sections


40. In case of conditional assignment, the maturity claim payment will be made to


41. ……… is the IRDA recognized apex body for all licensed insurance brokers in India


42. The period which is most difficult for the family of the insured during which the agent is expected to help them in the best possible way


43. …………… in insurance pertain to certain standards or principle that are flowed by insurance agents and insurers in the course of their business, while maintaining the profitability of the business



44. If the client wants maturity payment 6 month earlier than maturity date called as


45. Individuals whose identity and source of funds can be easily identified are categorized as


46. The Ombudsman powers are restricted to insurance contracts of value not exceeding…..


47. An insurer may refuse to pay the claim because


48. The institution of Insurance Ombudsman was created by the Government of India on……


49. ……………. refers to the amount of business that insurance companies are successful in retaining without lapse or surrender of the policy


50. The annual statement of accounts of the IRDA must be audited and certified by the


Question 1 of 50

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