Are you preparing for an LIC ADO / AAO job? www.wisdomjobs.com is the right place to make your job search simple. The Life Insurance of India LIC Exam is happened to be the most competitive exam. LIC is fairly selective when it comes to employment of candidates. LIC AAO works in the Insurance Sector. The tasks or job role of an Assistant Administrative Officer frequently revolve around the administrative part of Insurance. LIC ADO also works in the Insurance Sector. But this role involves a small amount of initial footwork. The job summary of an LIC ADO is a mixed blend of tactical sales and marketing. Many LIC ADO / AAO jobs are published every year. Go through our LIC ADO / AAO job interview questions and answers page designed by professionals that can help you to get ready to answer job-related interview questions.
Question 1. What Is The Difference Between With Profit And Without Profit Plans?
Answer :
An insurance policy can be 'with' or 'without' profit. In the former, bonuses disclosed, if any, after periodical valuations are allotted to the policy and are payable along with the contracted amount.
In 'without' profit plan the contracted amount is paid without any addition. The premium rate charged for a 'with' profit policy is therefore higher than for a 'without' profit policy.
Question 2. How Would You Bring Improvement Upon Our Company Or Product?
Answer :
You have the required qualification and work experience to withstand the responsibility of this particular job profile and that with the experience, you can bring prosperity, and growth in business to the company is what the answer should be.
Question 3. What Is Keyman Insurance?
Answer :
Keyman insurance is taken by a business firm on the life of key employee(s) to protect the firm against financial losses, which may occur due to the premature demise of the Keyman.
Question 4. What Is The Fdi Limit For Insurance Sector?
Answer :
49%
Question 5. What Do You Know About Life Insurance?
Answer :
Life insurance is an agreement between the policy holder and the insurer. The insurer approves to compensate the incidence of the insured individual's death or additional event like terminal illness or critical illness. The insured agrees to fee the charge in terms of cover premium for the service.
Question 6. What So You Means By Word Insurance?
Answer :
Insurance meansassurance of payment for any probable future losses. It aids financial protection against by returning losses during disaster. Many different insurance companies are offering wide range of insurance options these days.
Question 7. What Are Types Of Insurance?
Answer :
There are few types of insurance:
Question 8. Do You Know The Role Of Lic Ado/aao?
Answer :
You can tell about the role of LIC ADO/ AAO only if you have researched about it before going for interview. So, you have to do research about the LIC past, and also for the job profile you applied.
Question 9. How Many Types Of Insurance Companies Are There?
Answer :
It can be categorized into two:
Question 10. Do You Know Where The Corporate Office Or Head Quarter Of Lic Located?
Answer :
It is in Mumbai.
Question 11. What Are Duties And Functions Of Irda?
Answer :
Some of the duties of IRDA includes:
Question 12. When The Lic Of India Was Came Into Existence?
Answer :
1956
Question 13. Foreign Direct Investment (fdi) Limit In Insurance Sector?
Answer :
First there is 26% limit but now it has increase to 49%.
Question 14. What Are Difference Between Marketing And Sales?
Answer :
These two are important aspects in business. Sales are just a stage of marketing which refers to fulfilling the demands of marketing. Marketing is in wider terms then sales. Marketing is identifying the customers, public relations, sales etc. Marketing is the process of creating demands for a product in market. We can say marketing is direct activity whereas sales are direct activity.
Question 15. What Are The Objectives Of Lic ?
Answer :
There are some objective of LIC:
Question 16. What Are Role Of Development Officer?
Answer :
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