GA Insurance Awareness And Financial Market Questions Asked in LIC ADO Mains 2023

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GA Questions Asked in LIC ADO Mains 2023

LIC ADO Mains exam has been conducted on 23 April 2023 and candidates who have appeared in the mains exam must have been looking out for the Insurance and GA Questions Asked in LIC ADO Mains 2023. There is a section of General Knowledge, Current Affairs, and the English Language of 50 questions and Insurance & Financial Marketing Awareness of 60 questions. So here, in this post, we have covered Insurance and GA Questions that have been asked in LIC ADO Mains 2023.

GA Questions Asked in LIC ADO Mains 2023

Here, is the list of GA Questions asked in LIC ADO Mains Exam 2023:

  1. What were the five verdicts given by the Super Court Judges regarding the Election Commission, Chief Election
  2. Commission appointed by the Prime Minister, and the opposition leader of Lok Sabha?
  3. Who is currently serving as the G20 Sherpa?
  4. In which city is the Indian Oil Corporation’s 61,077 crore petrochemical plant located?
  5. Who is the title sponsor of WPL?
  6. In which country is Alibaba based?
  7. What is the extension given to the ministry NGOs for foreign purposes, and until when?
  8. Which platform is not a broker – Acko?
  9. Which state in India does not produce millets?
  10. Where was the ISRO LVM3 Uk 36 deployed in Earth’s orbit?
  11. Which country established the Abel Prize?
  12. What is the minimum age for Grade-I students?
  13. Where is the headquarters of ITU located?
  14. In which states is the Nilgiri Biosphere Reserve spread across? Provide options for five states.
  15. In how many states is the PM-MITRA program being implemented?
  16. What does the “C” in “NFSE – 5C approach” not represent?
  17. In which city, with a population of more than 10 lakhs, was the SS 2.0 initiative launched secondly?
  18. Who provided a $2.9 billion loan to Sri Lanka?
  19. In India, who is responsible for enforcing account and audit regulations?
  20. By how many runs did the Netherlands defeat their opponent?
  21. Which country’s girls and women is the International Day of Education dedicated to?
  22. Who is the biggest shareholder of IFLICL, besides Bank of Baroda?
  23. Which organization has its headquarters in Davos, Switzerland?
  24. Which country is not among the top 5 most populated countries?
  25. Which company produces Surf Excel?
  26. Who is the author of “A Suitable Boy”?

Insurance and Finance Questions

  1. How many day insurance claim settled? 30 Days
  2. ULIPS were introduced by which country? India in 1971
  3. TPA full form? Third Pary Adminstrator
  4. Principle of Indemnity?
  5. Relationship Between Risk and Premium?
  6. Full form of FPR? First Premium Receipt
  7. Insurance Ombudsman Compenstation maximum amount: 20 Lakhs
  8. IRDAI time limit set by the IRDAI? 30 Days
  9. Intangible Assets cover non-Physical assests that covers?
  10. Principle of Atmost good Faith law of Insurance?
  11. Early death Claims can arise out of Death during the first_____ policy Years.
  12. Which principles states about the Individual who should benefitted from the Insured Item? Prinicple of Insurable Interest
  13. What is Money back Policy in Insurance?
  14. Which is not General Insurance Company?
  15. Section 39 of the Insurance deal with?
  16. LIC established in which year?
  17. What is the family floater concept in insurance?
  18. Originator of Human Life Value concept in Insurance?
  19. Insurance Ombudsman work on what basis? Territorial Basis
  20. Defination of Inflation?
  21. Questions related to Term life Policy?
  22. Which is IC38 in insurance?

GK Questions Asked in LIC ADO Mains 2019 – Held on 11th August:

1). What is the theme of World Environment Day 2019?

Ans: Beat Air Pollution

2). Who is the fastest Indian Bowler to claim 100 ODI wickets?

Ans: Mohammed Shami

3). Which country has conferred its highest award “Nishan Izzuddin” to PM Modi?

Ans: Maldives

4). Which country has won FIFA U-20 World Cup 2019?

Ans: Ukraine has beat South Korea (Venue- Poland)

5). Who is the 24th NAVY Chief?

Ans: Admiral Karambir Singh.

6). What is the Theme of the Anti-Tobacco Day 2019?

Ans: “Tobacco and Lung Health”.

7). World Braille Day was Observed on?

Ans: 4 January

8). Who is the Chief Guest of Republic Day?

Ans: Cyril Ramaphosa

9). G-20 Summit 2019?

Ans: Osaka, Japan

10). Sir Lanka has signed a tripartite agreement with ____ for development of eastern terminal of Colombo port.

Ans: India and Japan

11). Who has been appointed the first Lokpal or Anti-Corruption ombudsman of India?

Ans: Former Supreme Court judge Justice Pinaki Chandra Ghose

12). Host Country of 2023 Asian Cup Football Tournament?

Ans: China

13). Present CM of Arunachal Pradesh?

Ans: Pema Khandu

14). Which of the bank is not a part of the merger of the third largest PSU?

Ans: Indian Bank (BOB, DENA, Vijaya, Indian Bank, All of the above)

15). Pravasi Bharatiya Diwas 2019 was held at?

Ans: Varanasi, UP

16). Which of the following city of US has banned the use of facial recognition?

Ans: San Francisco

17). Name the film which won, “Best Film” award in Golden Globe Awards 2019?

Ans: Bohemian Rhapsody

18). Deputy Executive Director of the UN?

Ans: Anita Bhatia

19). Winner of the Australia Open Women’s Single title?

Ans: Naomi Osaka (Defeated Petra Kvitova)

20). First Arab country to be granted full membership of Financial Action Task Force (FATF)?

Ans: Saudi Arabia

Insurance And Financial Marketing Awareness Asked In LIC ADO Main 2019

Q1. Which is not a tangible good?

Answer: Insurance

Q2. Which is not an indicator of service quality?

Answer: Cleverness

Q3. What is the full form of IGMS?

Answer: Integrated Grievance Management System.

Q4. Which is not a pre-requisite for launching a complaint with the Ombudsman?

Answer: Complainant has to approach a consumer forum prior to the Ombudsman

Q5. Which element of a valid contract deals with premium?

Answer: Consideration

Q6. Which has involves pressure applied through criminal means?

Answer: Coercion

Q7. Who is known widely as “the father of insurance education?

Answer: Dr. Huebner

Q8. HLV calculator helps you identify your life insurance needs on the basis of income expenses, liabilities and investments and secure your family’s future. What is the full form of HLV?

Answer: Human Life Value 

Q9. An individual with an aggressive risk profile is likely to follow wealth  _____  investment style.

Answer: Accumulation 

Q10. Which is can be categorized under contingency products?

Answer: Life Insurance

Q11. __________________ is a rise in the general level of prices of goods and services in an 

economy over a period of time.

Answer: Inflation

Q12. Which is an example of an endowment assurance plan?

Answer: Money Back Plan

Q13. The sum assured under the keyman insurance policy is generally linked to-?

Answer: Business profitability

Q14. Who bears the investment risk in case of ULIPs?

Answer: Insured 

Q15. Which is one of the ways of defining surplus?

Answer: Excess value of assets over liabilities

Q16.  A ____________________ is a formal legal document used by insurance companies that  provides details about the product.

Answer: Prospectus

Q17. The IRDAI allows the policyholder to opt-out of a policy after its purchase, within ____________ days from the date of receipt of the policy document.

Answer: 15 days

Q18. Under risk classification, ___________ consist of those whose anticipated mortality corresponds to the standard lives represented by the mortality table.

Answer: Standard lives

Q19. Which of the below insurance proposal is not likely to qualify under non-medical 

underwriting?

Answer: Mahesh, aged 60 years and working in a coal mine

Q20. Santosh has applied for a term insurance policy. His anticipated mortality is significantly lower than standard lives and hence could be charged a lower premium. Under risk classification, Santosh will be classified under 

_____.

Answer: Preferred risks

Q21. As per IRDAI (Protection of Policyholders Interests) Regulations, 2002, a claim 

under a life policy shall be paid or be disputed, within ___________ days from the date of 

receipt of all relevant papers and clarifications required.

Answer: 30 days

Q22. As per guidelines, an insurance company has to process an insurance proposal within ____________ days.

Answer: 15 days

GA Insurance Awareness And Financial Market Questions Asked in LIC ADO Mains 2023

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