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Pre-Hiring Assessment

When was IRDA renamed as IRDAI?
2010
2012
2014
2015
Which of the following is True: Amendment to the Insurance Act in 2015 stipulates that:
The aggregate holdings of equity shares by foreign investors, including portfolio investors, do not exceed forty-nine percent of the paid up equity capital.
The aggregate holdings of equity shares by foreign investors, do not exceed fifty-one percent of the paid up equity capital.
A foreign insurance company can engage in re-insurance through a branch established in India.
Foreign insurance company can directly start a fully owned insurance business in India.
Which among the following is currently exempt from the purview of the regulator?
Life Insurance Corporation
General Insurance Corporation of India
Life Insurance Authority of India
Postal Life Insurance
Which is the first Indian insurance company?
Triton Insurance Co. Ltd.
The Oriental Life Insurance Co. Ltd
Bombay Mutual Assurance Society Ltd
National Insurance Company Ltd
What is meant by customer lifetime value?
Sum of costs incurred while servicing the customer over his lifetime
Rank given to customer based on business generated
Sum of economic benefits that can be achieved by building a long term relationship with the customer
Maximum insurance that can be attributed to the customer
_______ acts as a central repository of insurance grievance data and as a tool for monitoring grievance redress in the industry
Integrated Grievance Management System (IGMS)
Insurance Grievance Management System (IGMS)
Integrated Grievance Addressal System (IGAS)
Insurance Grievance Addressal System (IGMS)
State True or False – Consumer Disputes Redressal agencies have powers of a Civil Court.
True
False
What is the fee for filing a complaint or filing an appeal whether before the State Commission or National Commission?
Rs.1000/-
Rs.1500/-
Rs. 750/-
No Fees
A customer having complaint regarding his insurance policy can approach IRDA through ___________
IGMS
District Consumer Forum
Ombudsman
IGMS or District Consumer Forum or Ombudsman
A Corporate Agent (Life) may have arrangements with a maximum of ______ life insurers to solicit, procure and service their insurance products.
Two
Three
Four
Five
A corporate agent is permitted to submit the application for renewal of registration ________ prior to the expiry of the registration.
15 days
30 days
60 days
90 days
State True or False: A Corporate Agent (Composite) can do only Life Insurance and General Insurance Business.
True
False
The specified person shall have undergone at least ______ hours of training for the specified category of life, general, health for' which registration is sought for.
Twenty Five
Forty Five
Fifty
Seventy Five
The specified person of corporate agent (composite) shall have undergone _______hours of training.
Twenty Five
Forty Five
Fifty
Seventy Five
State True or False: HLV helps to determine how much corpus one should save in his lifetime.
True
False
According to IRDAI’s new guidelines for traditional products, death cover for single premium policies for those above 45 years will be _____ of single premium.
100%
105%
110%
125%
Which was Act that was formed as the first statutory measure to regulate life insurance business in India?
114A
23A
213A
11C
Insurance Ombudsman is appointed by ___________
IRDAI
Insurance Council
Ministry of Finance
LIC
R N Malhotra, Chairman of the Malhotra Committee set up by Government was __________
Former Governor of RBI
Former Chairman of LIC
Former Chairman of SBI
Former Finance Minister
Total number of General Insurance Companies currently operating in India is __________
26
27
28
29
An insurance Ombudsman is appointed for a term of _____ years
2
3
4
5
For disputes where enquiry or adjudication is required you should approach_________.
IGMS
Consumer Forum or Courts
Ombudsman
Grievance Redressal Officer
Insurance Awareness Day is celebrated on _____.
19th April
25th September
26th January
15th August
The IRDA was incorporated as a statutory body in April, _____.
1998
1999
2000
2001
Which of the following is the Indian Reinsurer?
Re-Insurance Corporation of India
General Insurance Corporation
Life Insurance Corporation
India Re
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