GIC Clerk MCQs
GIC Clerk MCQs section helps aspirants prepare for the General Insurance Corporation (GIC) Clerk exam. Here you will find a varied set of multiple choice questions that cover most of the topics covered in the GIC Clerk exam syllabus. These MCQs are designed to assess the candidate's skill set in General Awareness, Reasoning, Quantitative Aptitude and English Language.
Q1. Who is the current chairman of the General Insurance Corporation of India (GIC)?
A. M.N. Saha
B. George Joseph
C. Ashish Kumar Chauhan
D. Dr. Yogesh Kumar Gupta
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Q2. What does the term "premium" refer to in insurance?
A. The amount paid to purchase insurance coverage
B. The amount paid by the insurer
C. The claim amount paid by the policyholder
D. The risk undertaken by the insurer
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Q3. Which of the following is the largest public sector general insurance company in India?
A. New India Assurance
B. United India Insurance
C. National Insurance
D. Oriental Insurance
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Q4. Which of the following is NOT a type of insurance policy?
A. Life Insurance
B. Health Insurance
C. Auto Insurance
D. Petrol Insurance
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Q5. Which insurance company was the first to introduce motor insurance in India?
A. Life Insurance Corporation of India
B. National Insurance Company
C. The New India Assurance Company
D. HDFC ERGO
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Q6. What is the full form of "GIC" in the insurance sector?
A. General Insurance Corporation
B. Global Insurance Corporation
C. Government Insurance Corporation
D. Generalized Insurance Company
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Q7. Which of the following is NOT a part of the life insurance industry?
A. Term Insurance
B. Endowment Insurance
C. General Insurance
D. Whole Life Insurance
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Q8. What is the primary function of an insurance underwriter?
A. Sell insurance policies
B. Calculate premiums and assess risks
C. Investigate claims
D. Provide customer service
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Q9. What is the average claim settlement period for the General Insurance Corporation of India?
A. 5 to 10 days
B. 15 to 20 days
C. 30 to 60 days
D. 2 to 3 months
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Q10. Which of the following documents is required to claim health insurance?
A. Bank statement
B. Medical receipts and prescriptions
C. Tax returns
D. Utility bills
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Q11. What is the minimum age for purchasing a life insurance policy in India?
A. 18 years
B. 21 years
C. 25 years
D. 30 years
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Q12. Which of the following insurance schemes was launched by the Government of India for low-income workers?
A. Pradhan Mantri Fasal Bima Yojana
B. Atal Pension Yojana
C. Pradhan Mantri Jeevan Jyoti Bima Yojana
D. Ayushman Bharat
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Q13. In case of a car accident, who is responsible for submitting the insurance claim?
A. The car manufacturer
B. The car dealer
C. The policyholder or the injured party
D. The police officer
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Q14. How is the "sum assured" in an insurance policy defined?
A. The amount paid by the insurer when the policyholder dies
B. The premium amount paid to the insurer
C. The amount of loan that can be taken on the policy
D. The amount of money paid back to the policyholder on maturity
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Q15. Which of the following is an example of "non-life" insurance?
A. Life Insurance
B. Health Insurance
C. Motor Insurance
D. Pension Insurance
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Q16. Which of the following is a common feature of health insurance policies?
A. It covers only accidental injuries
B. It offers coverage for a specific disease only
C. It reimburses hospitalization costs and medical expenses
D. It offers tax benefits
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Q17. Which of the following factors does NOT influence the premium of an insurance policy?
A. Age of the policyholder
B. Gender of the policyholder
C. Premium amount for the previous year
D. Health condition of the policyholder
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Q18. What is the meaning of "exclusions" in an insurance policy?
A. The conditions that are covered by the policy
B. The amount that the insurer will pay in case of a claim
C. The situations or circumstances not covered by the policy
D. The total sum assured under the policy
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Q19. What is the role of an insurance agent?
A. To settle claims
B. To sell and promote insurance policies
C. To inspect insured properties
D. To calculate premiums
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Q20. What is the "waiting period" in health insurance?
A. The period before the policy is activated
B. The period before an insured event is covered
C. The waiting time for reimbursement
D. The period before the insurer receives the premium payment
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Q21. What is the purpose of "reinsurance" in the insurance industry?
A. To spread risks and limit losses for insurance companies
B. To increase premium income
C. To increase the number of claims filed
D. To reduce claims processing time
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Q22. Which of the following is a "term life" insurance policy?
A. A policy that provides life coverage for a specified period of time
B. A policy that provides life coverage for an unlimited time
C. A policy that pays dividends
D. A policy that covers critical illness
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Q23. Which of the following is NOT a common clause in health insurance policies?
A. Cashless hospitalization
B. Pre-existing disease coverage
C. Waiting period for specific treatments
D. Tax exemption on premium
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Q24. What is the full form of "LIC" in the insurance sector?
A. Life Insurance Corporation
B. Life Insurance Company
C. Loan Insurance Corporation
D. Life India Corporation
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Q25. Which of the following insurance policies covers accidental death?
A. Accident Benefit Rider
B. Term Insurance
C. Health Insurance
D. Critical Illness Insurance
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Q26. What does "underwriting" mean in the insurance industry?
A. The process of reviewing, accepting, and pricing insurance policies
B. The process of selling insurance policies
C. The process of claiming benefits
D. The process of canceling a policy
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Q27. What is the main purpose of "health insurance"?
A. To provide medical coverage for the policyholder
B. To provide life coverage for the policyholder
C. To provide tax benefits
D. To provide accident coverage
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Q28. Which of the following is an example of "non-life insurance"?
A. Health Insurance
B. Life Insurance
C. Motor Insurance
D. Pension Insurance
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Q29. Which of the following is an example of "investment-linked" insurance?
A. Unit Linked Insurance Plans (ULIPs)
B. Term Life Insurance
C. Endowment Policy
D. Health Insurance
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Q30. What is the "surrender value" of a life insurance policy?
A. The value of the insurance when canceled before maturity
B. The value of the insurance on the maturity date
C. The claim amount after death
D. The premium paid on the policy
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