irda mock test - Quiz Questions (Page 1 of 2)
This quiz contains 20 questions.
Question 1: What is the main role of IRDA?
- To regulate and promote insurance in India (Correct Answer)
- To collect taxes
- To set interest rates
- To control inflation
Question 2: Who appoints the Chairman of IRDA?
- The Government of India (Correct Answer)
- The President of India
- The Reserve Bank of India
- The Supreme Court
Question 3: Which type of insurance covers health benefits?
- Health insurance (Correct Answer)
- Auto insurance
- Life insurance
- Property insurance
Question 4: What is a premium?
- A regular payment for insurance (Correct Answer)
- A type of investment
- An interest rate
- A loan
Question 5: What does 'claim' mean in insurance?
- Request for payment after a loss (Correct Answer)
- A type of insurance
- A filing fee
- An insurance company
Question 6: What is the purpose of life insurance?
- To provide financial protection after death (Correct Answer)
- To pay for car damage
- To reduce monthly bills
- To insure homes
Question 7: What does 'beneficiary' mean?
- Person who receives insurance benefits (Correct Answer)
- A type of policy
- Insurance company staff
- A cash payment
Question 8: Which document explains the terms of insurance?
- Policy document (Correct Answer)
- Identity card
- Invoice
- Passport
Question 9: How often does one pay a monthly premium?
- Every month (Correct Answer)
- Once a year
- Weekly
- Every six months
Question 10: Which IRDA Act established the IRDAI?
- IRDA Act, 1999 (Correct Answer)
- IRDA Act, 2000
- IRDA Act, 1995
- IRDA Act, 2005
Try our IRDA mock test to see how well you understand the basics of insurance. This quiz is made for those who are getting ready for the Insurance Regulatory and Development Authority of India exams. It covers simple questions on insurance rules, principles, and some financial planning ideas. Use this practice test to get confident and prepared for your upcoming exam.
