GIC Clerk MCQs - Page 2
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.
Q31. Which government scheme provides life insurance cover to the poor at low premiums?
A. Pradhan Mantri Jeevan Jyoti Bima Yojana
B. Ayushman Bharat
C. Pradhan Mantri Fasal Bima Yojana
D. Pradhan Mantri Kisan Samman Nidhi
📘 View Explanation
Q32. Which of the following is true about "term insurance"?
A. It offers coverage for a fixed term, with no maturity benefits
B. It provides benefits only on death
C. It accumulates a cash value over time
D. It covers health and life risks
📘 View Explanation
Q33. Which of the following is a risk-sharing arrangement in the insurance industry?
A. Reinsurance
B. Underwriting
C. Claim processing
D. Policy renewal
📘 View Explanation
Q34. What is the primary purpose of "public liability insurance"?
A. To cover liabilities arising from third-party injuries or property damage
B. To provide life coverage for workers
C. To cover fire-related damages
D. To cover accidental death
📘 View Explanation
Q35. Which of the following is the maximum limit for the coverage provided by the Pradhan Mantri Suraksha Bima Yojana?
A. Rs. 1 lakh
B. Rs. 2 lakh
C. Rs. 5 lakh
D. Rs. 10 lakh
📘 View Explanation
Q36. What is the key feature of a "health insurance rider"?
A. It increases the sum insured and provides additional coverage
B. It reduces the premium amount
C. It covers life insurance
D. It provides income replacement benefits
📘 View Explanation
Q37. Which of the following is NOT a factor considered by insurance companies when calculating premiums?
A. Age of the insured
B. Health status of the insured
C. Driving record of the insured
D. Color of the insured’s vehicle
📘 View Explanation
Q38. What does "no-claim bonus" mean in motor insurance?
A. A discount on premium for not filing claims
B. A refund of premium paid
C. An additional coverage benefit
D. A penalty for filing claims
📘 View Explanation
Q39. What is the purpose of "reinsurance" in the insurance industry?
A. To reduce the risk of financial losses for the insurer
B. To increase premiums for policyholders
C. To settle claims more efficiently
D. To market policies to customers
📘 View Explanation
Q40. Which of the following is a feature of "Unit Linked Insurance Plans (ULIPs)"?
A. Investment in equity and debt markets
B. Pure life coverage
C. No premium payments
D. Fixed premium amount
📘 View Explanation
Q41. What is "moral hazard" in the context of insurance?
A. A situation where a policyholder may take excessive risks because they know they are covered by insurance
B. A situation where the insurer underestimates the risk involved
C. A situation where the policyholder fails to make timely premium payments
D. A situation where insurance claims are delayed
📘 View Explanation
Q42. What does "cashless hospitalization" mean in health insurance?
A. Hospitalization expenses are paid directly by the insurer to the hospital
B. The insurer reimburses the patient for the medical expenses after discharge
C. The policyholder pays upfront and is reimbursed later
D. It covers outpatient consultations only
📘 View Explanation
Q43. Which of the following is a mandatory document for a health insurance claim?
A. Income tax return
B. Hospital bills and discharge summary
C. Utility bills
D. Bank account details
📘 View Explanation
Q44. What is "endowment insurance"?
A. A policy that pays out a lump sum after a fixed term or on death
B. A policy that covers accidental deaths
C. A policy with low premium payments
D. A policy with high-risk coverage
📘 View Explanation
Q45. What is the objective of the "Atal Pension Yojana"?
A. To provide pension benefits to senior citizens
B. To provide life insurance coverage
C. To provide low-cost health insurance
D. To provide financial assistance to farmers
📘 View Explanation
Q46. Which of the following is NOT covered by health insurance?
A. Hospitalization due to illness
B. Outpatient consultation charges
C. Critical illness treatment
D. Maternity benefits
📘 View Explanation