Page 10 - Digi Notes : General Awareness - 22.02.2016
P. 10
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5. Which of the following is correct about Insurance?
A. Sum assured is the amount to be paid in the event of loss as benefit.
B. In term insurance there is guaranteed lifelong insurance.
C. An Endowment Policy is a savings linked insurance policy with a specific maturity date.
D. Indemnity means a guarantee or assurance to put the insured in the same position in
which he was immediately prior to the happening of the uncertain event
E. The insurer must provide the insured complete, correct and clear information regarding
terms and conditions of the contract
i. A, B, C, D and E are correct
ii. A, C, D and E are correct
iii. A, B, C and D are correct
iv. B, C, D and E are correct
v. None of these
Answer – iv
6. Which of the following is true about Seventh Pay Commission?
A. The minimum pay in government is recommended to be set at ₹18,500 per month.
B. Overall increase in pay & allowances and pensions over the ‘Business As Usual’ scenario
will be 23.55 percent.
C. Maximum Pay - ₹2, 25, 000 per month for Apex Scale and ₹2, 50, 000 per month for
Cabinet Secretary and others presently at the same pay level.
D. The total financial impact in the FY 2016-17 is likely to be ₹1, 02,000 crore
E. The rate of annual increment is being retained at 3 percent.
i. A, B, and C are correct
ii. Only B and C is correct
iii. B, C and D is correct
iv. B, C and E is correct
v. All are correct
Answer - iv
7. What does UDAY stand for in UDAY scheme?
A. Ujwal DISCOM Assurance Yojana
B. Ujwal DISCOM insurance Yojana
C. Ujwal DISCOM Assessment Yojana
D. Ujwal DISCOM Assimilation Yojana
E. Ujwal DISCOM Assurance Yojana
Answer – E
5. Which of the following is correct about Insurance?
A. Sum assured is the amount to be paid in the event of loss as benefit.
B. In term insurance there is guaranteed lifelong insurance.
C. An Endowment Policy is a savings linked insurance policy with a specific maturity date.
D. Indemnity means a guarantee or assurance to put the insured in the same position in
which he was immediately prior to the happening of the uncertain event
E. The insurer must provide the insured complete, correct and clear information regarding
terms and conditions of the contract
i. A, B, C, D and E are correct
ii. A, C, D and E are correct
iii. A, B, C and D are correct
iv. B, C, D and E are correct
v. None of these
Answer – iv
6. Which of the following is true about Seventh Pay Commission?
A. The minimum pay in government is recommended to be set at ₹18,500 per month.
B. Overall increase in pay & allowances and pensions over the ‘Business As Usual’ scenario
will be 23.55 percent.
C. Maximum Pay - ₹2, 25, 000 per month for Apex Scale and ₹2, 50, 000 per month for
Cabinet Secretary and others presently at the same pay level.
D. The total financial impact in the FY 2016-17 is likely to be ₹1, 02,000 crore
E. The rate of annual increment is being retained at 3 percent.
i. A, B, and C are correct
ii. Only B and C is correct
iii. B, C and D is correct
iv. B, C and E is correct
v. All are correct
Answer - iv
7. What does UDAY stand for in UDAY scheme?
A. Ujwal DISCOM Assurance Yojana
B. Ujwal DISCOM insurance Yojana
C. Ujwal DISCOM Assessment Yojana
D. Ujwal DISCOM Assimilation Yojana
E. Ujwal DISCOM Assurance Yojana
Answer – E
