1.Who is the current Chairman of LIC?
a) R.K. Sharma
b) M.R. Kumar
c) A.K. Bhattacharya
d) S.K. Roy
Answer: b) M.R. Kumar
2.In which year was the Life Insurance Corporation of India (LIC) established?
a) 1950
b) 1956
c) 1960
d) 1972
Answer: a) 1950
3.What is the tagline of LIC?
a) Your Partner for Life
b) Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi
c) Aapke Sachche Advisor
d) Hum Hai Na: Khayal Apka
Answer: b) Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi
4.The LIC Act was passed in which year?
a) 1947
b) 1956
c) 1961
d) 1972
Answer: c) 1956
5.What is the minimum age to purchase a policy from LIC?
a) 16 years
b) 18 years
c) 21 years
d) 25 years
Answer: b) 18 years
6.LIC International, a subsidiary of LIC, is based in which country?
a) United Kingdom
b) United States
c) United Arab Emirates
d) Singapore
Answer: c) United Arab Emirates
7.Which of the following policies is specifically designed for children?
a) Jeevan Saral
b) Jeevan Anand
c) Jeevan Saathi
d) Jeevan Anurag
Answer: d) Jeevan Anurag
8.What does the acronym ‘LIC’ stand for?
a) Life Insurance Corporation
b) Long-term Investment Corporation
c) Legal Insurance Corporation
d) Loyal Insurance Company
Answer: a) Life Insurance Corporation
9.What is the current claim settlement ratio of LIC?
a) 90%
b) 95%
c) 98%
d) 99%
Answer: c) 98%
10.Which insurance plan offered by LIC provides both protection and savings?
a) Jeevan Anand
b) Jeevan Shanti
c) Jeevan Labh
d) Jeevan Rakshak
Answer: a) Jeevan Anand
11.In which city is the headquarters of LIC situated?
a) New Delhi
b) Mumbai
c) Kolkata
d) Chennai
Answer: b) Mumbai
12.What is the minimum policy term for LIC’s Jeevan Labh plan?
a) 10 years
b) 15 years
c) 20 years
d) 25 years
Answer: b) 15 years
13.Which of the following policies is a unit-linked insurance plan (ULIP) offered by LIC?
a) Jeevan Pragati
b) Jeevan Rakshak
c) Jeevan Saral
d) LIC Flexi Plus
Answer: d) LIC Flexi Plus
14.LIC’s Micro Insurance Plan aimed at providing life insurance coverage to economically vulnerable sections is called:
a) Jeevan Anand
b) Jeevan Shanti
c) Jeevan Bima
d) Jeevan Mangal
Answer: d) Jeevan Mangal
15.What is the maturity age for the LIC Jeevan Anand policy?
a) 60 years
b) 65 years
c) 75 years
d) Whole life
Answer: d) Whole life
16.Which policy from LIC is known for providing a combination of protection and regular payouts?
a) Jeevan Anand
b) Jeevan Shanti
c) Jeevan Umang
d) Jeevan Labh
Answer: c) Jeevan Umang
17.What is the maximum entry age for the LIC New Jeevan Anand plan?
a) 50 years
b) 55 years
c) 60 years
d) 65 years
Answer: a) 50 years
18.LIC’s ‘Pradhan Mantri Vaya Vandana Yojana’ is a pension scheme for senior citizens. What is the maximum pension amount payable under this scheme?
a) Rs. 5,000 per month
b) Rs. 10,000 per month
c) Rs. 15,000 per month
d) Rs. 20,000 per month
Answer: b) Rs. 10,000 per month
19.Which LIC policy offers a guaranteed monthly income along with protection?
a) Jeevan Anand
b) Jeevan Labh
c) Jeevan Shanti
d) LIC Jeevan Tarun
Answer: d) LIC Jeevan Tarun
20.What is the minimum sum assured under LIC’s Jeevan Labh policy?
a) Rs. 1,00,000
b) Rs. 1,50,000
c) Rs. 2,00,000
d) Rs. 2,50,000
Answer: c) Rs. 2,00,000
21.LIC’s ‘Varishtha Pension Bima Yojana’ is designed for:
a) Children
b) Senior Citizens
c) Women
d) Rural Population
Answer: b) Senior Citizens
22.The LIC policy ‘Jeevan Tarun’ is specifically designed for which age group?
a) Children
b) Young Adults
c) Middle-aged Individuals
d) Senior Citizens
Answer: a) Children
23.In which year was LIC conferred with the status of ‘Navratna’ by the Government of India?
a) 1994
b) 2000
c) 2006
d) 2012
Answer: c) 2006
24.What is the maximum age limit for purchasing the LIC Jeevan Akshay VI immediate annuity plan?
a) 70 years
b) 75 years
c) 80 years
d) 85 years
Answer: c) 80 years
25.What is the minimum age at which a person can avail of the LIC Jeevan Akshay VI immediate annuity plan?
a) 30 years
b) 40 years
c) 50 years
d) 60 years
Answer: c) 50 years
26.LIC’s ‘Bima Shree’ policy is designed for:
a) Rural Population
b) High Net Worth Individuals
c) Women
d) Salaried Professionals
Answer: b) High Net Worth Individuals
27.The LIC policy ‘Jeevan Pragati’ provides:
a) Endowment
b) Whole Life
c) Term Insurance
d) Unit-Linked Insurance
Answer: a) Endowment
28.Which of the following is a non-linked, with-profit endowment assurance plan offered by LIC?
a) Jeevan Saral
b) Jeevan Anand
c) Jeevan Rakshak
d) Jeevan Umang
Answer: c) Jeevan Rakshak
29.The LIC policy ‘Jeevan Arogya’ provides coverage for:
a) Life Insurance
b) Health Insurance
c) Accidental Death
d) Critical Illness
Answer: b) Health Insurance
30.What is the minimum premium payment term for LIC’s New Endowment Plan?
a) 5 years
b) 10 years
c) 15 years
d) 20 years
Answer: a) 5 years
31.The LIC policy ‘Jeevan Nidhi’ is a/an:
a) Endowment Plan
b) Annuity Plan
c) Money Back Plan
d) ULIP
Answer: b) Annuity Plan
32.What does the acronym ‘LIC HFL’ stand for?
a) Life Insurance Corporation – Housing Finance Limited
b) LIC Home Finance Limited
c) LIC Health and Finance Limited
d) Life Insurance Corporation – Housing and Finance
Answer: b) LIC Home Finance Limited.
33. LIC’s ‘Jeevan Lakshya’ is a policy that provides:
a) Pure Term Insurance
b) Endowment with Whole Life
c) Money Back with Premium Return
d) Child Education and Marriage Coverage
Answer: d) Child Education and Marriage Coverage
34. What is the grace period for premium payment in most LIC policies?
a) 15 days
b) 30 days
c) 45 days
d) 60 days
Answer: b) 30 days
35. The LIC policy ‘Jeevan Shikhar’ is a:
a) Term Insurance
b) Endowment Plan
c) Single Premium Endowment Plan
d) Money Back Plan
Answer: c) Single Premium Endowment Plan
36. What is the tenure of the LIC Jeevan Sangam policy?
a) 5 years
b) 10 years
c) 15 years
d) 20 years
Answer: a) 5 years
37. Which of the following policies is a non-participating term assurance plan offered by LIC?
a) Jeevan Pragati
b) Anmol Jeevan II
c) Jeevan Umang
d) Jeevan Akshay VI
Answer: b) Anmol Jeevan II
38. LIC’s ‘Aadhaar Shila’ and ‘Aadhaar Stambh’ are policies specifically designed for:
a) Senior Citizens
b) Children
c) Women
d) Individuals with Aadhaar Card
Answer: c) Women (Aadhaar Shila) and d) Individuals with Aadhaar Card (Aadhaar Stambh)
39. What does the term ‘Jeevan Anurag’ signify in LIC policies?
a) Love for Life
b) Eternal Life
c) Devotion for Life
d) Life’s Commitment
Answer: c) Devotion for Life
40. The LIC policy ‘Jeevan Saathi’ is designed for:
a) Individuals with joint life insurance
b) Married Couples
c) Single Individuals
d) Business Partners
Answer: b) Married Couples