IRDA & LIC: Insurance Awareness Quiz 1

IRDA & LIC: Insurance Awareness Quiz provided by MockBank covers all the  relevant topics for IRDA Junior Officer and LIC AAO. This is a must take quiz for any candidate trying to update his/ her insurance awareness.

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1. Insurance works on the principle of

 Trust

 Sharing

 Randomness

  All of the above

Question 1 of 5

2. Insurance is legitimate

 when an adverse happening is likely

 When an adverse happening is unlikely

 When an adverse happening is certain

 In all the above three situations

Question 2 of 5

3. Insurance benefits replace

 All physical losses, in full

 All physical losses, partly

 All monetary losses, in full

 The monetary losses, but only to some extent

Question 3 of 5

4. Which one of the following statements is correct?

 People hesitate to buy life insurance because they are not aware of their needs

 People hesitate to buy life insurance because they prefer to enjoy the present

 Both the statements are correct

 Both the statements are wrong

Question 4 of 5

5. Which is the right time for taking life insurance?

 When you are about to get married

  Soon after you have got married

 Just when you are joined a new job

 All the three ‘times’ are right

Question 5 of 5

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