Examius
🇮🇳 IRDAI Assistant Manager · flashcards
IRDAI Assistant Manager General Awareness Flashcards
50 question-and-answer cards covering General Awareness as it is examined in IRDAI Assistant Manager. 24 of them are printed below, taken from across the deck — no signup, no paywall on the preview.
24 sample cards from the General Awareness deck
Sampled from the end of the deck, so these are different cards from the ones shown on the syllabus page.
Define the 'repo rate' and the 'reverse repo rate'.
Repo rate is the rate at which the RBI lends short-term funds to commercial banks against securities; reverse repo rate is the rate at which the RBI borrows from banks, absorbing liquidity.
What are CRR and SLR in banking regulation?
CRR (Cash Reserve Ratio) is the percentage of a bank's net demand and time liabilities (NDTL) kept as cash with the RBI; SLR (Statutory Liquidity Ratio) is the percentage kept in liquid assets like cash, gold, or approved securities.
What is the difference between the money market and the capital market?
The money market deals in short-term instruments (maturity up to 1 year) for liquidity; the capital market deals in long-term funds (maturity over 1 year) such as equities and bonds for investment.
Name four common money market instruments.
Treasury Bills (T-bills), Commercial Paper (CP), Certificates of Deposit (CD), and Call Money / Notice Money (interbank lending).
What is a Treasury Bill (T-Bill) and what tenures are available in India?
A short-term government debt instrument issued at a discount and redeemed at face value; issued by the RBI in 91-day, 182-day, and 364-day tenures.
What is the structure of the Indian financial system's institutions?
It comprises regulators (RBI, SEBI, IRDAI, PFRDA), financial institutions (banks, NBFCs, insurers), financial markets (money and capital markets), and financial instruments and services.
What is the difference between a 'whole life' and a 'term' life insurance policy?
Term insurance provides pure protection for a fixed period with no maturity value if the insured survives; whole life insurance covers the insured for the entire lifetime and builds cash value.
What is a ULIP in insurance?
Unit Linked Insurance Plan, a product combining life insurance with investment, where part of the premium provides cover and the rest is invested in market-linked funds chosen by the policyholder.
What is 'bancassurance'?
The arrangement by which banks sell insurance products of insurance companies to their customers, acting as a corporate agent/distribution channel.
What is the difference between an insurance 'agent' and an insurance 'broker'?
An agent represents and sells products of one insurer (or one life, one general, one health under composite licensing) and works for the insurer; a broker represents the customer and can deal with multiple insurers to find the best policy.
What is the ombudsman mechanism for insurance grievances in India?
The Insurance Ombudsman, set up under the Insurance Ombudsman Rules, resolves policyholder complaints against insurers (for claims up to Rs 50 lakh) quickly and cost-free, outside courts.
What is the apex industry body for life insurers in India?
The Life Insurance Council; correspondingly, the General Insurance Council represents non-life/general insurers. Both are statutory bodies under the Insurance Act.
What are the three branches of the Indian government as per the Constitution, embodying separation of powers?
The Legislature (makes laws), the Executive (implements laws), and the Judiciary (interprets laws and ensures justice).
Which part of the Indian Constitution deals with Fundamental Rights, and how many are there currently?
Part III of the Constitution; there are six Fundamental Rights (Right to Equality, Freedom, Against Exploitation, Freedom of Religion, Cultural & Educational Rights, and Constitutional Remedies).
What are the Directive Principles of State Policy and where are they in the Constitution?
Guidelines (non-justiciable) for the State to frame policies for social and economic welfare; contained in Part IV of the Constitution.
Who is regarded as the chief architect / father of the Indian Constitution?
Dr. B.R. Ambedkar, who chaired the Drafting Committee of the Constituent Assembly.
When did the Constitution of India come into effect?
26 January 1950, celebrated as Republic Day; it was adopted on 26 November 1949 (Constitution Day).
Which is the longest river in India, and which is the largest freshwater lake?
The Ganga is the longest river flowing entirely within India (the Indus and Brahmaputra are longer overall); Wular Lake in Jammu & Kashmir is the largest natural freshwater lake.
What is the 'Tropic of Cancer' and how many Indian states does it pass through?
The Tropic of Cancer (latitude 23.5 degrees N) divides India roughly into north and south; it passes through 8 Indian states (Gujarat, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, West Bengal, Tripura, Mizoram).
What is the highest mountain peak in the world and the highest in India?
Mount Everest (8,849 m) is the world's highest; Kangchenjunga (8,586 m) in Sikkim is the highest peak located in India.
On what date is World Insurance Day / National Insurance Awareness Day observed in India?
National Insurance Awareness Day is observed on 28 June in India.
What is the GST and from what date was it implemented in India?
Goods and Services Tax, a unified indirect tax on supply of goods and services, implemented across India on 1 July 2017, replacing multiple central and state taxes.
What is 'solvency margin' that insurers must maintain under IRDAI norms?
The excess of an insurer's assets over its liabilities, ensuring it can meet claims; IRDAI requires a minimum Solvency Ratio of 1.5 (150%).
What is the difference between 'nominee' and 'assignee' in a life insurance policy?
A nominee is a person designated to receive policy benefits on the insured's death (as a trustee/recipient); an assignee is a person to whom the policy's rights and ownership are legally transferred via assignment.
What this deck covers
The General Awareness deck follows the IRDAI Assistant Manager General Awareness syllabus — 4 chapters and 16 topics — so questions land on material that is genuinely examinable rather than trivia around it. That works out to roughly 12.5 cards per chapter.
Answers are written to be recallable, not just readable — averaging about 164 characters, which is long enough to carry the reasoning and short enough to say out loud.
A deck like this earns its keep on the second and third pass. Read the syllabus first so you know the shape of the subject, then use the cards to find the specific facts that have not stuck.
General Awareness flashcards FAQ
How many General Awareness flashcards are in this IRDAI Assistant Manager deck?
50 cards. This page previews 24 of them, sampled evenly across the deck so you can judge the difficulty before installing anything.
Are these IRDAI Assistant Manager flashcards free?
Yes. The preview here is free to read with no signup, and the full 50-card deck is free inside the Examius app.
What do the General Awareness cards cover?
They follow the IRDAI Assistant Manager General Awareness syllabus — 4 chapters and 16 topics — so the questions track what is actually examinable.
How should I use these flashcards?
Read the syllabus first so you know the shape of the subject, then drill the deck. Examius schedules each card with spaced repetition, so cards you keep missing come back sooner and ones you know drift further apart.