LIC question paper with answer pdf download

LIC question paper with answer PDF download and Mock Test


1. The Life Insurance Companies Act was passed in

which year?

a. 1919

b. 1912

c. 1900

d. 1902

e. None of these

2. The Life Insurance Corporation of India (LIC)

came into existence in which year?

a. 1962

b. 1949

c. 1956

d. 1947

e. None of these

3. The Life Insurance Business in India was

nationalized in which year?

a. 1956

b. 1949

c. 1938

d. 1962

e. None of these

4. How many insurance companies were merged to

form the Life Insurance Corporation of India?

a. 200 

b. 176

c. 245

d. 125

e. None of these

5. The central office of the Life Insurance

Corporation of India (LIC) is located at?

a. Kolkata

b. New Delhi

c. Chennai

d. Pune

e. Mumbai

6. In which year, the Indian Life Assurance

Companies Act came into force ?

a.1910

b.1932

c.1920

d.1912

e. None of these

7. In which year New India Assurance Co Ltd was

found?

a. 1918

b. 1818

c. 1919

d. 1945

e. None of these 

8. What percent shares of New India Assurance Co 

Ltd is owned by Government of India?

a. 50% 

b. 85% 

c. 99.4% 

d. 100% 

e. None of these 

9. In which year New India Assurance Co Ltd 

nationalized? 

a. 1945 

b. 1947 

c. 1973 

d. 1969 

e. None of these 

10. The life insurance business in India was first 

started in which year?

a. 1827 

b. 1845 

c. 1818 

d. 1832 

e. None of these 

11. Name the first life insurance company to 

function in India?

a. United India Insurance Company 

b. Bombay Mutual Life Assurance Society 

c. Agriculture Insurance Company of India 

d. Life Insurance Company 

e. None of these

12. Which among the following is the first Indian 

life insurance company to begin operations in India?

a. Bombay Mutual Life Assurance Society

b. Empire of India Life Assurance Company 

c. Albert Life Assurance

d. Royal Insurance 

e. None of these 

13. Which among the following is the oldest existing 

insurance company in India?

a. National Insurance Company

b. Life Insurance Corporation of India 

c. New India Assurance Company

d. United India Insurance Company 

e. None of these 

14. Name the first General Insurance Company in 

India?

a. ECGC Ltd

b. United India Insurance Company Limited

c. Indian Mercantile Insurance Ltd

d. Triton Insurance Company Ltd 

e. None of these 

15. The Insurance Act to govern both life insurance 

and non-life insurance was passed in which year?

a. 1929 

b. 1938 

c. 1949 

d. 1934 

e. None of these 

16. The General Insurance Business in India was 

nationalized in which year?

a. 1951 

b. 1962 

c. 1973 

d. 1949 

e. None of these 

17. IRDAI Act was passed in which year by the 

Government of India? 

a. 1992 

b. 2002 

c. 2000 

d. 1999 

e. None of these 

18. The IRDAI was incorporated as a statutory body 

on? 

a. 30 April 2001 

b. 01 July 2002 

c. 31 December 1999 

d. 19 April 2000 

e. None of these 

19. How many public sector life insurance 

companies are functional in India?

a. 1

b. 2 

c. 3

d. 4 

e. None of these 

20. The Indian Insurance Companies Act was 

enacted in which year?

a. 1912 

b. 1928

c. 1936 

d. 1949 

e. None of these 

21. The General Insurance Corporation of India 

(GIC) was notified as the Indian Reinsurer in which 

year?

a. 2014 

b. 1987 

c. 1999 

d. 2000 

e. None of these 

22. Which of the following is the first life insurance 

company in India?

a. United India Insurance

b. Oriental Insurance 

c. LIC

d. New India Assurance

e. None of these 

23. In 1818, India’s first insurance company 

Oriental Life Insurance Company has established in 

which city?

a. New Delhi

b. Mumbai 

c. Kolkata 

d. Pune 

e. None of these 

24. Which insurance company is the first general 

insurance company in India ?

a. The Oriental Insurance Company

b. GIC Re

c. New India Assurance

d. Triton Insurance Company Ltd 

e. None of these 

25. In which year the General Insurance Business 

Nationalization Act was passed in India? 

a.1972 

b.1980 

c.1991 

d.1985 

e. None of these 

26. The Insurance Act has __________sections and 

______ schedules. 

a.10, 100 

b.8, 120 

c.120, 8 

d.17, 110 

e. None of these 

27. Which of the following is the biggest non-life 

insurer in the entire Afro-Asia region ? 

a. Life Insurance Corporation of India

b. General Insurance Company

c. United India Insurance Company 

d. New India Assurance

e. None of these 

28. Insurance is listed in which schedule of the 

Indian constitution ?

a. Eighth Schedule 

b. Sixth Schedule 

c. Seventh Schedule 

d. Fifth Schedu

e. None of these 

29. Which act was the first legislation governing all 

forms of insurance to provide strict state control 

over insurance business? 

1. Insurance Act of 1938 

2. General Insurance Business Act of 1972 

3. Life Insurance Corporation Act 

4. Insurance Act of 1988 

5. None of these 

30. In which year, the Actuaries Act was passed by 

Indian government? 

a. 2000 

b. 2006 

c. 1999 

d. 1985 

e. None of these 

31. The Indian insurance industry is governed by 

which of the following act ?

a. IRDA Act 1999 

b. Life Insurance Corporation Act, 1956 

c. General Insurance Business (Nationalization) Act, 

1972 

d. Insurance Act, 1978 

e. All of these 

32. The Oriental Insurance Company Ltd was 

founded in which year?

a. 1929 

b. 1952 

c. 1938 

d. 1947

e. None of these 

33. The General Insurance Corporation of India 

(GIC. was converted into a national re-insurer in 

which year?

a. 1995 

b. 2000 

c. 2014 

d. 1999 

e. None of these 

34. How many companies were merged to form the 

United India Insurance Company (UIIC)?

a. 12 

b. 19 

c. 22 

d. 20 

e. None of these 

35. The General Insurance Business 

(Nationalization) Amendment Act was passed in 

which year?

a. 2000 

b. 2002 

c. 1999 

d. 1998 

e. None of these 

36. GIC was founded on?

a. 1 July 1938 

b. 31 January 1994 

c. 25 April 1959 

d. 22 November 1972 

e. None of these 

37. The General Insurance Corporation of India 

(GIC) was incorporated as a private company under 

which act?

a. Insurance Act 1938 

b. General Insurance Business (Nationalization) Act, 

1972 

c. Companies Act, 1956

d. Insurance Regulatory and Development Authority 

Act, 1999 

e. None of these 

38. Where is the headquarters of Religare Health 

Insurance Company Limited located?

a. New Delhi

b. Chennai 

c.Gurgaon

d. Mumbai 

e. None of these 

39. The New India Assurance Company Ltd is what

type of company? 

a. General Insurance Company 

b. Life Insurance Company

c. Pension Regulator 

d. Asset Reconstruction Company 

40. The United India Insurance Company (UIIC) 

Limited was incorporated on? 

a. 31 December 1919 

b. 25 January 1946 

C. 18 February 1938 

d. 09 March 1952 

e. None of these


41. UIIC was nationalized in which year? 

a. 1956 

 b. 1972

c. 1999 

d. 2000 

e. None of these 

42. The Oriental Insurance Company Limited was incorporated in which year?

a.15 July 1938 

b. 30 April 1942 

c. 21 January 1954 

d. 12 September 1947 

e. None of these 

43. The Agriculture Insurance Company Of India Limited was incorporated on? 

a. 6 August 1999 

b. 29 October 1997 

c. 12 February 2000 

d. 20 December 2002 

e. None of these 

44. The insurance law in India has its origin from 

which country?

a. France

b. United Kingdom 

c. United States

d. Russia 

e. None of these 

45. The Life Insurance Business is defined in which section of the Insurance Act, 1938? 

a. Section 2(11)

b. Section 3C(11) 

c. Section 1(11) 

d. Section 4A(11) 

e. None of these 

46. The Agriculture Insurance Company of India Limited (AIC) was set up in which year?

a. 1982 

b. 1999 

c. 2002 

d. 2014 

e. None of these 

47. Which country is the first in the world to introduce the concept of Insurance Repository services?

a. India

b. United States 

c. United Kingdom 

d. France 

e. None of these 

48. Which of the following is the first Indian Life Insurance Company established in India?

a. Oriental Life Insurance Company 

b. Bombay Mutual Life Assurance Company 

c. Life Insurance Corporation

d. Empire of India 

e. None of these 

49 . The headquarters of LIC is located in?

a. Mumbai 

b. Chennai 

c. Pune

d. Hyderabad

e. None of these 

50. Which government body regulates Insurance Industry?

a. NFCG

b. IRDAI

c. CII

d. FICCI 

e. None of these

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