Insurance Quiz
Practice quiz on Insurance (Banking Awareness). 5 real exam questions.
About This Quiz
Insurance Quiz — Questions with Solutions
All 5 questions from this quiz with the correct answer and explanation. Attempt them yourself first, then open each solution to check your reasoning.
Q1.IRDAI stands for?
- A.Insurance Regulatory and Development Authority of India
- B.Indian Reserve Development Authority for Insurance
- C.International Regulation of Development and Insurance
- D.Insurance Research and Data Authority of India
Show answer
Answer: A. Insurance Regulatory and Development Authority of India
Insurance regulator in India.
Q2.LIC was established in which year?
- A.1956
- B.1947
- C.1970
- D.1991
Show answer
Answer: A. 1956
India's largest insurer.
Q3.Pradhan Mantri Jeevan Jyoti Bima Yojana provides life insurance cover of?
- A.Rs 2 lakh
- B.Rs 5 lakh
- C.Rs 1 lakh
- D.Rs 10 lakh
Show answer
Answer: A. Rs 2 lakh
Low premium government scheme.
Q4.Pradhan Mantri Suraksha Bima Yojana is an?
- A.Accident insurance scheme at Rs 20/year
- B.Health insurance scheme
- C.Crop insurance scheme
- D.Vehicle insurance scheme
Show answer
Answer: A. Accident insurance scheme at Rs 20/year
Cheapest insurance scheme.
Q5.Pradhan Mantri Fasal Bima Yojana covers?
- A.Crop insurance for farmers
- B.Life insurance
- C.Health insurance
- D.Vehicle insurance
Show answer
Answer: A. Crop insurance for farmers
Crop insurance scheme.
Frequently Asked Questions
Is Insurance Quiz free to attempt on AajExam?
Yes. Insurance Quiz is completely free. You only need a free AajExam account to track your score, view detailed solutions and unlock cross-attempt analytics.
How long does it take to complete Insurance Quiz?
Insurance Quiz runs on a 1-minute timer in real exam-style conditions. The clock starts the moment you click Start, mirroring the time pressure of the actual exam.
Are detailed solutions provided?
Yes. Every question on Insurance Quiz ships with a complete step-by-step solution, the underlying concept, and (where applicable) shortcut tricks. You can also discuss any question with the AajExam community.
Can I attempt Insurance Quiz multiple times?
Yes. You can attempt this quiz as many times as you like. Each attempt is recorded separately so you can track improvement in score, accuracy and time-management.
Which government exams does this quiz prepare me for?
Insurance questions appear regularly in SSC CGL, CHSL, MTS, GD; IBPS PO, Clerk; SBI PO, Clerk; RRB NTPC, Group D; UPSC prelims and most State PSC exams. The specific weightage varies by exam — check the exam pattern on the corresponding AajExam exam page for details.