Q. What is the share of Government of India in the GIC of India (GIC Re)?
✅ Correct Answer: (D)
0.8578
General Insurance MCQs and Notes
Q. Before GIC became the sole Re-Insurer in India, it had how many fully owned subsidiary companies?
✅ Correct Answer: (D)
4
Q. How many insurance companies were nationalized under the General Insurance Business (Nationalization) Act (GIBNA) 1972?
✅ Correct Answer: (A)
107
Q. With the nationalization, the General Insurance business in India was merged into how many companies?
✅ Correct Answer: (D)
4
Q. The General Insurance Corporation of India (GIC) was incorporated as a private company under which act?
✅ Correct Answer: (C)
Companies Act, 1956
Q. GIC was formed in pursuance of which section of General Insurance Business (Nationalization) Act (GIBNA)?
✅ Correct Answer: (C)
Section 9(1)
Q. The General Insurance Business (Nationalization) Amendment Act was passed in which year?
✅ Correct Answer: (B)
2002
Q. Which among the following options is not correct?
✅ Correct Answer: (A)
1948 – Introduction of The Insurance Act
Q. Which among the following is an accidental insurance scheme?
✅ Correct Answer: (C)
PMSBY