L.I.C. Apprentice Development Officers Recruitment Exam., 2010

  General Knowledge & Current Affairs
                             (Held on 13-6-2010)

1. Which of the following types of companies / organizations issue ‘ULIP’?
(A) Insurance companies
(B) Banks
(C) NABARD
(D) RBI
(E) All of these
Ans : (A)

2. Insurance business in India is regulated by which of the following authorities ?
(A) NFCG
(B) IRDA
(C) CII
(D) FICCI
(E) All of these
Ans : (B)

3. Which amongst the following is NOT an insurance company functioning in India ?
(A) ICICI Prudential
(B) ING Vysya
(C) ICICI Lombard
(D) New India Assurance Company
(E) National Securities Depository Ltd.
Ans : (E)

4. Which of the following is the only Public Sector Company in the field of life insurance?
(A) General Insurance Company
(B) New India Assurance Company
(C) Oriental Insurance Company
(D) Sahara Life Insurance
(E) Life Insurance Corporation of India
Ans : (E)


5. As per the news in various financial newspapers, Larson & Toubro (L & T) is planning to enter the insurance business in India. Otherwise, what is the major business of L & T, which it is known for ?
(A) Newspaper Publications
(B) Media Entertainment
(C) Car & Automobile Production
(D) Textiles
(E) Heavy Engineering & Construction
Ans : (E)

6. “A contract that pledges payment on an agreed upon amount to the person (or his/her nominee) on the happening of an event covered against” is technically known as—
(A) Death coverage
(B) Life Insurance
(C) Savings for future
(D) Provident Fund
(E) None of these
Ans : (B)

7. As per the news published in various news papers, Life Insurance policies may become paperless in the near future. This means—
(A) LIC will not insure any person hereafter as it has already reached its peak
(B) LIC will not ask for any documents from a person who wishes to purchase an insurance policy
(C) All policy related documents and policy certificates will henceforth be available in electronic form and not in their present physical form
(D) LIC henceforth will not entertain any claim or complaint in written form or on paper. Things should be in electronic mode only
(E) None of these
Ans : (C)

8. In Insurance policies, we always find a date which is “Date of Maturity”. What does it mean ?
(A) This is the date on which the policy was sold to the customer/person insured
(B) This is the date on which the policy holder will have to submit his/her claim seeking the amount of the policy. Otherwise the company will not make any payment to him/her
(C) This is the date on which the contract between the person and insurance company will come to an end
(D) The date on which the insurance company makes the final payment to the insured person which is normally fifteen days after the “Payment due date”
(E) None of these
Ans : (D)

9. As we know, the Govt. is paying much attention to “Micro Finance” these days. Which of the following is one of the examples of Micro Finance ?
(A) Insurance for life
(B) Investment in Mutual Funds
(C) Self Help Groups
(D) Letter of Credit
(E) All of these
Ans : (C)

10. Which of the following insurance plans is NOT launched by the LIC ?
(A) Jeevan Chhaya
(B) Life Mahalife Gold Plan
(C) Child Career Plan
(D) Child Future Plan
(E) Jeevan Saral
Ans : (B)

11. Which of the following is/are the highlights of the Union Budget for 2010-11 ?
1. Rs. 3000 crores allotted for agriculture sector.
2. Fertilizer Subsidy to be reduced.
3. Hope to implement Direct Tax code from April 2011.
(A) Only 1
(B) Only 2
(C) Only 3
(D) All 1, 2 & 3
(E) None of these
Ans : (C)

12. Who amongst the following is the author of the book “The White Tiger” ?
(A) Arundhati Roy
(B) V.S. Naipaul
(C) Kiran Desai
(D) Vikram Seth
(E) Aravind Adiga
Ans : (E)

13. Who amongst the following is the Man Booker Prize winner of 2009 for his/her life-time achievement ?
(A) Alice Munro
(B) Chetan Bhagat
(C) Shobha De
(D) Graham Swift
(E) None of these
Ans : (A)

14. Which of the following is the best description of what insurance is ?
(Many times companies also communicate the same to the person interested in getting an
insurance policy)—
(A) Insurance = Collective bearing of risk
(B) Insurance = Paying for other’s mistake
(C) Insurance = Taking from ‘A’ to pay ‘B’
(D) Insurance = Paying for something which will never happen
(E) All of these
Ans : (A)

15. Who amongst the following won OSCAR Award for his/her contribution in a film in 2009 and also two Grammy Awards in 2010—
for his/her achievements in the field ?
(A) Aamir Khan
(B) Rituparno Ghosh
(C) Deepa Mehta
(D) Mani Ratnam
(E) A. R. Rahman
Ans : (E)

16. As per the announcements made in the Union Budget for 2010-11,
public sector banks will get around Rs. 16,500 crores from the Govt. of India. For what purpose are banks getting this amount ?
(A) To strengthen their capital base
(B) To provide retirement benefits to their employees
(C) To give the public sector banks an image make over
(D) All A, B & C given above
(E) None of these
Ans : (A)

17. Who amongst the following Indian Players was one of the members of the team which won the Australian Open Lawn Tennis Tournament -2010 ?
(A) Leander Paes
(B) Mahesh Bhupati
(C) Sania Mirza
(D) Sunitha Rao
(E) None of these
Ans : (A)

18. Which of the following organizations/agencies frame the Monetary and Credit Policy which is followed by all banks in India?
(A) Indian Bank’s Association
(B) Reserve Bank of India
(C) Securities & Exchange Board of India
(D) Govt. of India
(E) None of these
Ans : (B)

19. Which of the following terms is used in the game of Cricket ?
(A) Penalty Stroke
(B) Knock out
(C) Bully
(D) Checkmate
(E) Silly point
Ans : (E)

20. Which of the following countries was the host of the SAARC Summit 2010 ?
(A) Bangladesh
(B) Nepal
(C) India
(D) Bhutan
(E) None of these
Ans : (D)

21. Who amongst the following is not a winner of the “Padmashri Award” given away in 2010 ?
(A) Ulhas Kashalkar
(B) Saif Ali Khan
(C) Rekha
(D) Lalit Modi
(E) Raghunath Panigrahi
Ans : (D)

22. Which of the following terms is NOT used in the world of finance, banking and insurance ?
(A) Devaluation
(B) Amnesty
(C) Hard Currency
(D) Preference share
(E) Sinking fund
Ans : (B)

23. Who amongst the following is NOT amongst the winners of the 56th National Film Awards?
(A) Shreya Ghosal
(B) Priyanka Chopra
(C) Hariharan
(D) Shilpa Shetty
(E) Arjun Rampal
Ans : (D)

24. The Indira Gandhi Peace Prize for 2009 was given to the—
(A) President of Nepal
(B) Prime Minister of Nepal
(C) President of Afghanistan
(D) Prime Minister of Bangladesh
(E) None of these
Ans : (D)

25. Which of the following awards is given for excellence in the field of Sports ?
(A) Gnanpith Award
(B) Bharat Ratna
(C) Arjuna Award
(D) Kalidas Samman
(E) None of these
Ans : (C)