1. What is the core business of PNB MetLife?
a) Banking services
b) Insurance and financial services
c) Real estate
d) E-commerce
Answer: b) Insurance and financial services
2. PNB MetLife is a collaboration between which two entities?
a) Punjab National Bank and MetLife International
b) Punjab National Bank and ICICI Prudential
c) PNB Housing Finance and MetLife
d) PNB Parivar and MetLife India
Answer: a) Punjab National Bank and MetLife International
3. What types of insurance products does PNB MetLife typically offer?
a) Only life insurance
b) Only health insurance
c) Both life and health insurance
d) Property insurance
Answer: c) Both life and health insurance
4. In the context of insurance, what does the acronym “PNB” stand for?
a) Private National Bank
b) Punjab National Bank
c) Personalized National Banking
d) Professional National Brokerage
Answer: b) Punjab National Bank
5. Which regulatory body oversees the insurance industry in India, including companies like PNB MetLife?
a) RBI (Reserve Bank of India)
b) SEBI (Securities and Exchange Board of India)
c) IRDAI (Insurance Regulatory and Development Authority of India)
d) Ministry of Finance
Answer: c) IRDAI (Insurance Regulatory and Development Authority of India)
6. What is PNB MetLife’s approach to customer service and satisfaction?
a) Minimum effort, quick services
b) Customer-centric approach
c) Strict policies and procedures
d) Limited customer interaction
Answer: b) Customer-centric approach
7. How does PNB MetLife contribute to corporate social responsibility (CSR)?
a) By focusing solely on profit generation
b) Through charitable donations only
c) By actively participating in community development initiatives
d) No involvement in CSR activities
Answer: c) By actively participating in community development initiatives
8. What role does technology play in PNB MetLife’s operations and customer interactions?
a) Limited use of technology
b) Technology is the primary driver of operations
c) No reliance on technology
d) Occasional use of technology for specific tasks
Answer: b) Technology is the primary driver of operations
9. How does PNB MetLife differentiate itself from competitors in the insurance industry?
a) Lower premiums
b) Unique policy names
c) Comprehensive coverage and customer service
d) Aggressive marketing only
Answer: c) Comprehensive coverage and customer service
10. In which year was PNB MetLife established in India?
a) 2000
b) 2005
c) 2010
d) 2015
Answer: b) 2005
11. What are some key factors PNB MetLife considers when underwriting life insurance policies?
a) Age, gender, and marital status
b) Occupation, lifestyle, and medical history
c) Social media presence and hobbies
d) Location and travel preferences
Answer: b) Occupation, lifestyle, and medical history
12. How does PNB MetLife address the changing needs of customers over different life stages?
a) Static insurance plans for all customers
b) Regular premium increases
c) Dynamic product offerings to match evolving needs
d) No consideration for life stage changes
Answer: c) Dynamic product offerings to match evolving needs
13. In the context of health insurance, what is the significance of a “pre-existing condition”?
a) It has no impact on insurance premiums
b) It can lead to policy denial or higher premiums
c) It only affects coverage for major surgeries
d) It applies only to senior citizens
Answer: b) It can lead to policy denial or higher premiums
14. How does PNB MetLife educate its customers about the importance of life and health insurance?
a) No active customer education programs
b) Through mass advertising only
c) Engaging in financial literacy initiatives and awareness campaigns
d) By offering discounts on premiums
Answer: c) Engaging in financial literacy initiatives and awareness campaigns
15. What role do financial advisors play in PNB MetLife’s distribution strategy?
a) Limited involvement in distribution
b) Sole reliance on digital channels
c) Integral part of the distribution network
d) Only used for high-value policies
Answer: c) Integral part of the distribution network
16. How does PNB MetLife approach risk management in the insurance sector?
a) Ignoring potential risks
b) Strict avoidance of risky policyholders
c) Implementing robust risk assessment and mitigation strategies
d) Leaving risk management to reinsurers
Answer: c) Implementing robust risk assessment and mitigation strategies
17. What are some innovative insurance products or features introduced by PNB MetLife in recent years?
a) No recent innovations
b) Regular term life policies only
c) Unique riders and customizable policies
d) Discounts on existing policies
Answer: c) Unique riders and customizable policies
18. How does PNB MetLife contribute to financial inclusion in India?
a) Limited focus on financial inclusion
b) By providing insurance products only to urban areas
c) Through initiatives targeting underserved and rural populations
d) By offering premium discounts to specific income groups
Answer: c) Through initiatives targeting underserved and rural populations
19. What digital platforms does PNB MetLife use for customer engagement and service delivery?
a) None, relying solely on traditional channels
b) Social media platforms only
c) Dedicated mobile apps and online portals
d) Email communication only
Answer: c) Dedicated mobile apps and online portals
20. How does PNB MetLife ensure compliance with regulatory requirements in the insurance industry?
a) Ignoring regulatory guidelines
b) Regular internal audits and compliance checks
c) No need for compliance in the insurance sector
d) Outsourcing compliance responsibilities
Answer: b) Regular internal audits and compliance checks