• Banking Awareness Quiz -72

    711 “A contract sold by an insurance company designed to provide payments to the policy holder at specified intervals, usually after retirement” is technically called a/an
      A) Periodic Pay Plan
      B) Annuity Plan
      C) Jeevan Nidhi Plan
      D) Jeevan Akshay Plan
    712 The tax levied on manufacture or production of goods is called
      A) Value Added Tax
      B) Customs Duty
      C) Sales Tax
      D) Excise Duty
    713 The sources of revenue of the state governments are
      A) entertainment tax
      B) land revenue
      C) excise duty on intoxicants
      D) All A), B) and C)
    714 “The amount on a life insurance policy that is payable to the beneficiary when the policy holder passes away” is technically known as
      A) Additional Benefit
      B) Death Benefit
      C) Endorsement
      D) Flat Benefit
    715 “The written document issued by an insurance company to a policy owner which represents the insurance contract between the insurance company and the policy owner” is termed as?
      A) Endorsement
      B) Policy
      C) Prescription
      D) Beneficiary note
    716 “The amount of money to be paid by a policy owner to the insurance company for the benefits provided under an insurance policy” is termed as?
      A) Collateral
      B) Premium
      C) Broker
      D) Benefit
    717 Capital Account Deficit (CAD) will increase with the increase in which of the following?
      A) Import of gold
      B) Import of crude oil
      C) Inflow of foreign money
      D) Both 1 and 2
    718 ASBA is a mechanism for subscribing to applications in Initial Public Offerings (IPOs). ASBA stands for?
      A) Application Supported by Blocked Amount
      B) Application Submitted with Blocked Amount
      C) Acquired Shares by Blocked Amount
      D) Application Supported by Balance Amount
    719 “The termination of an insurance policy due to non-payment of premium” is technically called as?
      A) Lapse
      B) Death
      C) Forfeiture
      D) Seize
    720 In regards to insurance, “A policy provision that allows a policy to be restored from a lapsed status and resume active coverage” is termed as?
      A) Reinstatement
      B) Reaffirmation
      C) Reinsurance
      D) Revocation


    Check below for answers…..














    711 Ans) Annuity Plan
    712 Ans) Excise Duty
    713 Ans) All Ans), Ans) and Ans)
    714 Ans) Death Benefit
    715 Ans) Policy
    716 Ans) Premium
    717 Ans) Both 1 and 2
    718 Ans) Application Supported by Blocked Amount
    719 Ans) Lapse
    720 Ans) Reinstatement
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