Insurance Sector Quiz
Practice quiz on Insurance Sector (Financial Awareness). 5 real exam questions.
About This Quiz
Insurance Sector 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.Who regulates the insurance sector in India?
- A.IRDAI
- B.RBI
- C.SEBI
- D.PFRDA
Show answer
Answer: A. IRDAI
Insurance Regulatory and Development Authority of India oversees insurers.
Q2.Which scheme allows accidental insurance of ₹2 lakh at an annual premium of ₹20?
- A.PMJJBY
- B.PMSBY
- C.PMFBY
- D.PMMY
Show answer
Answer: B. PMSBY
Pradhan Mantri Suraksha Bima Yojana offers ₹2 lakh accident cover at ₹20 premium.
Q3.Which committee was associated with banking sector reforms in India?
- A.Kelkar Committee
- B.Narasimham Committee
- C.Bimal Jalan Committee
- D.Shah Panel
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Answer: B. Narasimham Committee
The Narasimham Committee recommended major banking reforms including NPA norms.
Q4.Government of India’s shareholding in public sector banks is maintained through which entity?
- A.RBI
- B.NABARD
- C.Ministry of Finance
- D.LIC
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Answer: C. Ministry of Finance
PSB ownership rests with the Department of Financial Services under the Ministry of Finance.
Q5.The term 'Blue Revolution' is related to which sector?
- A.Dairy
- B.Fisheries
- C.Oil
- D.Information Technology
Show answer
Answer: B. Fisheries
Blue Revolution refers to rapid growth in fish production.
Frequently Asked Questions
Is Insurance Sector Quiz free to attempt on AajExam?
Yes. Insurance Sector 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 Sector Quiz?
Insurance Sector 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 Sector 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 Sector 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 Sector 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.