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Home › Insurance Awareness › Insurance Awareness - Distribution Channels

Insurance Awareness - Distribution Channels — Insurance Awareness Questions & Practice

Practise 57 Insurance Awareness - Distribution Channels questions from Insurance Awareness for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong.

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Practice questions on Insurance Awareness - Distribution Channels — with answers

Try each question first, then open the answer. Explanations are included.

1. Which of the following term-description pairs is NOT correctly matched?

  1. Ae-Insurance Account — An electronic account that allows a policyholder to hold multiple insurance policies in a single dematerialized form
  2. BWeb Aggregator — An entity licensed to display and compare insurance products from different insurers on a single online platform
  3. CInsurance Agent (Distribution) — A licensed professional who assesses the extent of loss in general insurance claims
  4. DInsurance Awareness Campaign — Initiatives undertaken by IRDAI and insurers to educate the public about insurance products and their benefits
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Answer: C

The correct pairing for 'Reserve Bank of India (RBI)' is 'India's central bank, responsible for regulating the monetary policy and banking system', not 'A benchmark interest rate used by banks to determine lending rates'. The other three pairings shown are correct.

2. Which of the following describes Bancassurance (Distribution)?

  1. AA licensed professional who assesses the extent of loss in general insurance claims
  2. BA licensed intermediary who represents the customer and can offer products from multiple insurers
  3. CThe distribution of insurance products through a bank's network of branches and customers
  4. DAn organization that processes health insurance claims and manages cashless hospitalization on behalf of insurers
Show answer

Answer: C

'Bancassurance (Distribution)' relates to: The distribution of insurance products through a bank's network of branches and customers

3. What is Bancassurance (Distribution)?

  1. AAn entity that allows policyholders to hold and manage their insurance policies in electronic form
  2. BThe distribution of insurance products through a bank's network of branches and customers
  3. CA licensed individual who represents a specific insurance company and sells its products to customers
  4. DA licensed professional who assesses the extent of loss in general insurance claims
Show answer

Answer: B

'Bancassurance (Distribution)' relates to: The distribution of insurance products through a bank's network of branches and customers

4. Which term is described as: 'The distribution of insurance products through a bank's network of branches and customers'?

  1. AInsurance Agent (Distribution)
  2. BBancassurance (Distribution)
  3. CThird Party Administrator (Distribution)
  4. DCorporate Agent
Show answer

Answer: B

This corresponds to 'Bancassurance (Distribution)'.

5. Identify the term: 'The distribution of insurance products through a bank's network of branches and customers'.

  1. AMicro Insurance Agent
  2. BCommon Service Centre (CSC)
  3. CBancassurance (Distribution)
  4. DInsurance Agent (Distribution)
Show answer

Answer: C

This corresponds to 'Bancassurance (Distribution)'.

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