Telanganaeducation

July 20, 2015

LIC ADO 2015

LIC ADO MODEL PAPER 1

1. The post of chief agents and special agents was removed in 1956 through _______.
a) LIC Act.
b) Insurance Act, 1938 (amendment in 1950).
c) Indian Contract Act.
d) Indian employees Act
e) None of these

2. Risks which are more than normal risk are labelled as __________.
a) Doubtful risk
b) Super standard risk.
c) Sub-standard risk.
d) Extra-ordinary risk
e) None of these

3. The person who sends the proposal form for taking an insurance policy and pays the premium is called
a) Proposer.
b) Nominee.
c) Legal advisor.
d) Employer.
e) None of these

4. When the life insured has expired a few days before date of maturity, but after signing discharge form, the claim amount will be paid to:
a) Surviving heirs.
b) Nominee.
c) The policy holders bank account.
d) Legal heirs of nominee
e) None of these

5. Name the insurance that will be paid when there is crop failure due to draught etc.,
a) Fire insurance.
b) Crop insurance.
c) Marine insurance.
d) Automobile insurance.
e) None of these

6. Diversification of risk otherwise termed as _________.
a) Spreading of risk.
b) Reduction of risk.
c) Acceptance of risk.
d) Shifting of risk.
e) None of these

7. The person who derives the title from the assignor is called:
a) Assignee.
b) Nominee.
c) Assignor.
d) Consignee.
e) None of these

8. How many zonal offices are functioning under LIC?
a) 5
b) 8
c) 10
d) 6
e) 4

9. A policy designed to provide insurance to a group of persons is called as:
a) Fire insurance policy.
b) Group insurance policy.
c) Marine insurance.
d) Automobile insurance.
e) None of these

10. What do you mean by a claim under an insurance policy?
a) Any demand made by the policy holder on the insurer.
b) A demand to fulfil the policyholders obligation.
c) A demand to fulfil the insurers obligations.
d) A demand to fulfil the third party.
e) None of these

11. In which of the following types of insurance should insurable interest be present only at the time when policy is taken?
a) Fire insurance.
b) Life insurance.
c) Marine insurance.
d) Life and marine insurance.
e) None of these

12. The principle of contribution applies when_____________.
a) The full amount of premium is not applied by the insured.
b) There are two or more insurance claims exist on the same risk.
c) The insured insures the same risk policy with other insurers.
d) The insured insures the same risk policy with different persons.
e) None of these

13. Which of the following is the similarity between insurance and gambling?
a) The amount of loss to be paid is known before hand.
b) Promise to pay on the happening of an event.
c) Both the parties win on happening of an event.
d) Both are enforceable at law.
e) None of these

14. Which of the following is a girl child policy of LIC?.
a) Jeevan Sneha.
b) Jeevan Vishwas.
c) Jeevan Dhara.
d) Jeevan Sukanya.
e) None of these

15. Principle of Insurable interest should be present in the case of life Insurance:
a) at the time of claim settlement.
b) at the time of survival only.
c) only at the inception of the policy.
d) at inception and at the time of revival.
e) None of these

16. Cargo Ship Caught by fire is an example of __________.
a) particular average loss
b) General average loss
c) constructive total loss
d) Actual total loss
e) None of these

17. __________ policy is granted only in respect of stock of inventories of the insured under the fire insurance business.
a) Floating
b) Replacement
c) valued
d) Declarations
e) None of these

18. A certain percentage of the sum assured is paid periodically according to the terms of policy ___________.
a) Term policy
b) Endowment life policy
c) Money-back Policy
d) Group insurance policy
e) None of these

19. The IRDA has replaced ___________.
a) The controller of insurance.
b) The LIC chairman.
c) Department of insurance.
d) Department of commerce.
e) None of these

20. Brokers Association of India was granted recognition by IRDA on _________.
a) Dec 11, 2001.
b) Dec 11, 2002.
c) Dec 11, 1999.
d) Dec 11, 2003.
e) None of these

21. Foreign equity participation is allowed in insurance sector up to a limit of ____ percent.
a) 80.
b) 73.
c) 49.
d) 74 .
e) None of these

22. Which clause provides guidelines to decide whether the loss is caused by an insured peril or an expected peril?
a) Indemnity clause
b) Proximate clause.
c) Standard claims clause
d) Trip sheet clause
e) None of these

23. Which of the following risks involve a situation where there is a possibility of gain/loss?
a) Personal risk.
b) Speculative risk.
c) Liability risk.
d) Other risk.
e) None of these

24. Which of the following is concerned with the conversion of a firm’s asset and earning power against risks of accidental loss?
a) Risk retention
b) Risk control
c) Risk management
d) Risk identification
e) None of these

25. An Undertaking to compensate the insured for the loss arising from the risk is called:
a) Insurance.
b) Agreement.
c) Indemnity.
d) Proximate clause.
e) None of these

26. The authorized capital of GIC is __________.
a) 35 Crore.
b) 50 Crore.
c) 250 Crore.
d) 80 Crore.
e) None of these

27. An endorsement on the policy or by a separate duly stamped deed by Insurance Company is called:
a) Nomination.
b) Election.
c) Justification.
d) Assignment.
e) None of these

28. A life insurance policy from LIC may be assigned only after a period of ________.
a) 10 years.
b) 5 years.
c) 3 years.
d) 1 year.
e) None of these

29. 90% of LIC functions relate to policy holders at_______
a) Zonal
b) Central
c) Divisional
d) Branch
e) None of these

30. The document which contains the terms and conditions of the life insurance contract is termed as the __________.
a) Cover note
b) Life insurance policy
c) Agreement
d) Other document
e) None of these

31. A policy which has been assigned will revert to the assignor
a) if the assignor survives till maturity.
b) whenever the assignor demands it.
c) when the conditions specified in a conditional assignment happen.
d) on maturity of the policy.
e) None of these

32. Who is benefited if a policy is under the salary savings scheme?
a) The policyholder.
b) The insurer.
c) The agent.
d) All the three above.
e) None of these

33. Insurer is an organisation/person which/who has ______.
a) Insured his life or goods.
b) Helped a person to get an insurance policy.
c) Undertaken to make good the loss of the subject matter of insurance.
d) Filed a suit in a court of law to recover an insurance claim.
e) None of these

34. Risk management emphasises more on ____________.
a) Risk retention.
b) Reduction of cost of handling risk.
c) Risk transfer.
d) Insurance.
e) None of these

35. When a policy is surrendered before maturity date, the amount payable by Insurance Company is called:
a) Premium.
b) Cash surrender value.
c) Consideration.
d) Commission.
e) None of these

36. If the premium was due on 15th July and 16 August is a Sunday
a) the grace period will end on 14th august (Friday).
b) the grace period will end on 15th august (Saturday).
c) the grace period will end on 17th august (Monday).
d) the grace period will end as per the discretion of the insurer.
e) None of these

37. If the worth of goods is Rs.2000 and insured for Rs.1600 and suffers a loss of Rs. 1800. His claim can be for__________.
a) Rs. 2000.
b) Rs. 1800.
c) Rs. 1600.
d) Rs. 3800.
e) None of these

38. The time for which the policy will normally remain in existence is known as _______.
a) Policy term.
b) Policy note.
c) Proposed time.
d) Grace time.
e) None of these

39. _______________expenses do not vary with increase or decrease in the business volume.
a) Direct expenses.
b) Overhead expenses.
c) Indirect expenses.
d) Trading expenses.
e) None of these

40. The structure of LIC Organisation is divided into how many tiers?
a) Two
b) Four
c) Five
d) Three
e) None of these

41. Exposure to loss from a situation affecting Unemployment, war, inflation, hurricane, earthquakes etc., is the examples of ________.
a) Pure risk.
b) Fundamental risk.
c) Particular risk.
d) Personal risk.
e) None of these

42. Any risk involved a situation where there is a possibility of gain refers to ________.
a) Liability risk.
b) Personal risk.
c) Pure risk.
d) Speculative risk.
e) None of these

43. ______________refers to Direct or Consequential loss.
a) Dynamic risk.
b) Particular risk.
c) Property risk.
d) Pure risk.
e) None of these

44. That proportion of the risk which the direct insurer holds on his own account is termed as_________
a) Line.
b) Retention.
c) Retrocession.
d) Ceding insurer.
e) None of these

45. The first company in India offering the insurance coverage was Oriental Insurance Company and the same was established in the year:
a) 1824.
b) 1818
c) 1822.
d) 1821.
e) None of these

46. Insurance contract is a sort of contract which is approved by ____________.
a) The Indian Contract Act.
b) Indian Factory Act.
c) Indian Companies Act.
d) The Indian finance Act.
e) None of these

47. Notification of alteration in risk is a condition ______________.
a) precedent to liability.
b) subsequent to liability.
c) precedent to contract.
d) subsequent to contract.
e) None of these

48. Life insurance in its present form came to India from ______.
a) The United Kingdom.
b) The USA.
c) Canada.
d) Germany.
e) None of these

49. The term Assurance refers to ________.
a) Life Insurance Business.
b) Marine Insurance Business.
c) Fire Insurance Business.
d) Motor Vehicle Business.
e) None of these

50. The insurance done with more than one insurer for the same risk and subject matter is called as_______.
a) Double insurance.
b) Over insurance.
c) Reinsurance.
d) External insurance.
e) None of these

Key:

1	a	2	c	3	a	4	b	5	b	6	a	7	a	8	b	9	b	10	c
11	b	12	b	13	a	14	d	15	d	16	b	17	d	18	c	19	a	20	a
21	d	22	b	23	b	24	c	25	a	26	c	27	d	28	b	29	d	30	c
31	c	32	d	33	c	34	b	35	b	36	c	37	c	38	a	39	b	40	b
41	b	42	d	43	c	44	b	45	b	46	a	47	d	48	a	49	a	50	a

July 7, 2015

Current affairs II

1. What is the capital of Guyana? - Georgetown
2. National Journalism Day is observed on which day
every year? - 17 November
3. Apollo Hospitals tied up with Pharma firm - Sanofi
4. Mohammad Ghouse, passed away in Chennai. He
was associated with which sports? - Cricket
5. Expand COMPAT - Competition Appellate Tribunal
6. Indian men hockey team clinched gold after how
many years in Asian Games? - 16 years
7. India won how many gold medals in 17th Asian
games? - 11
8. Expand TS GENCO – Telangana State Power
Generation Corporation
9. Who is Michael Phelps? - US swimmer
10. Indian Railways on 10 October 2014 celebrated its
……… Annual Railway National Awards - 59th
11. PM Narendra Modi addressed Indian-Americans
at world famous Madison Square Garden.Madison
Square Garden is situated in which city? - New York
12. J. Jayalalithaa became first incumbent chief
minister to be convicted for corruption and was
sentenced for 4 years in Jail .She was the chief
minister of ____________ state? - Tamil Nadu
13. The Vision Statement is issued by - India and US
14. Kailash Satyarthi is associated with
_______movement? - Bachpan Bachao Andolan
15. Who is the author of the Book " The shadow
lines"? - Amitav Ghosh
16. According to Union Budget 2014-15, how many
IIMs to be opened? - 5
17. In railway budget 2014-15, Cleanliness budget up
by how many per cent over last year? - 40%
18. FDI limit in Civil Aviation - 49%.
19. Census 2011, was the 15th Census of India and
…… Census after Independence. - 7th
20. Headquarter of Indian bank is situated in
__________ city? - Chennai
21. Who is the current road, transport, highways and
shipping minister? - Nitin Gadkari
22. ECB stands for-External Commercial Borrowings
23. Wimbledon Cup is related to _______ game ? -
Lawn tennis
24. Currency of Malaysia is - Ringgit
25. EPS in share market stands for - Earnings Per
Share
26. Who is authorized to permit premature closure of
PPF A/c? - Chairman of concerning Bank
27. The objective of Government to appoint
Narasimham Committee is - to strengthen the
banking system
28. When was NABARD established? - July 12, 1982
29. _________ cities in India has become the world's
second most populous city in 2014 after Tokyo,
according to a UN report released recently? - Delhi
30. Recently who has become the first player of
Indian origin to be a part of the National Basketball
Association (NBA)? - Sim Bhullar
31. Who is the present Global Goodwill Ambassador
of UNICEF? - Sachin Tendulkar
32. ___________ is an e-Commerce solution of
National Payments Corporation of India (NPCI)? -
RuPay Debit Cards
33. Recently SBI signed _______ line of credit with
Export Import Bank of India. - 500 million dollars
34. _________ highest urban population? -
Maharashtra
35. Japan has sea-conflict with _________ country? -
China
36. ________ signed an agreement with the Kochi
Metro Rail Ltd. for a loan of Rs. 1,170 crore? -
Canara Bank
37. Recently former President of the United States of
America Bill Clinton visited Jabrouli village, near
Lucknow, on an awareness mission on - diarrhea
38. India has inked a loan agreement with World Bank
for an assistance of ____for the Odisha Disaster
Recovery Project. - $153 million
39. For the safety and welfare of women how much
money has been provided for Beti Bachao Beti
Padhao Yojana to generate awareness on the
issues? - Rs. 100 crores
40. ___was conferred "Best Bank – Public Sector"
award in BFSI Awards-2014 by World HRD Congress,
recently? - Bank of Maharashtra
41. What is Current Repo Rate? - 8%
42. Recently Priyanka Chopra played a role of Mary
Kom in a movie, who is Mary kom? - Boxer
43. Expand DBT - Direct Benefit Transfer
44. Lisbon is the capital of – Portugal
45. Currency of Saudi Arabia - Riyal
46. What is 'C' in KYC? - Customer
47. What is 'I' in REIT? - Investment
48. Mary Barra who recently visited India is the CEO
of – General Motors
49. According to RBI norms, what is minimum capital
required for foriegn banks to open subsidar
ised as completion of 100 years
of which war ? - World War - I

July 3, 2015

Current affairs

Ques. : 1 Greece made history in becoming first ever developed economy not to pay back the IMF on 30 Jun. The nation(s) which has/have failed to make their commitments to the IMF include(s)
1) Peru
2) Zambia
3) Sudan
4) Zimbabwe
5) All the above
Answer:- 5) All the above
Ques. : 2 India and which of the following countries signed agreements including the double taxation avoidance treaty and ratification on the extradition treaty, recently, during the visit of the External Affairs Minister Sushma Swaraj?
1) Thailand
2) Nepal
3) Mauritius
4) Vietnam
5) Bangladesh
Answer:- 1) Thailand
Ques. : 3 Prime Minister Narendra Modi on 1 Jul launched the Digital India program. It comprises of various initiatives which include
1) Wi-Fi hotspots
2) Next Generation Network (NGN)
3) Swachh Bharat Mission (SBM) app
4) eSign
5) All the above
Answer:- 5) All the above
Ques. : 4 In a bid to revive dwindling interest in Test cricket, which of the following two teams will play the first day-night Test match in Adelaide later this year?
1) Australia and New Zealand
2) England and Australia
3) South Africa and Australia
4) India and Australia
5) None of these
Answer:- 1) Australia and New Zealand
Ques. : 5 Which of the following banks has launched '30-min auto' and '15-min 2-wheeler' loan schemes, for which customers have to provide only their biometric details?
1) ICICI Bank
2) SBI
3) HDFC Bank
4) Axis Bank
5) Bank of Baroda
Answer:- 3) HDFC Bank
Ques. : 6 Which of the following Indian cities has won the United Nations Public Service Award 2015 in the category of improving delivery of public services recently? The city was declared as the first “open defecation free” district in country earlier.
1) Thrissur
2) Kollam
3) Belgaum
4) Nadia
5) Dhalai
Answer:- 4) Nadia
Ques. : 7 Anisa Rasouli was nominated as the first female judge to the Supreme Court in which of the following countries on 28 Jun?
1) Bangladesh
2) Iran
3) Pakistan
4) Afghanistan
5) Indonesia
Answer:- 4) Afghanistan
Ques. : 8 _________ is celebrated as the National Doctor's Day as a tribute to the legendary Dr Bidhan Chandra Roy, a physician, former West Bengal CM and the Bharat Ratna awardee.
1) 29 Jun
2) 30 Jun
3) 1 Jul
4) 2 Jul
5) 3 Jul
Answer:- 3) 1 Jul
Ques. : 9 Sunil Mittal-led Bharti Airtel has become the world's third largest mobile operator with 303 mn subscribers. Which of the following is the world’s largest mobile operator as of now?
1) China Unicom
2) China Mobile
3) Vodafone Group
4) AT&T
5) None of these
Answer:- 2) China Mobile
Ques. : 10 Indian Railways and Indian Army are among world's biggest employers. What are their ranks, respectively, among the world's biggest employers?
1) 1st and 2nd
2) 1st and 5th
3) 3rd and 6th
4) 6th and 7th
5) 8th and 9th
Answer:- 5) 8th and 9th