Interview Question Bank- LIC (Assistant Administrative Officer (AAO)

LIC AAO INTERVIEW QUESTIONS

1. Introduce yourself.
2. Why do you want LIC?
3. What are the other jobs of LIC in the country?
4. Explain different types of insurance policies.
5. What type of insurance policies are there?
6. Are LIC policies used by people to save tax?
7. How your skills can be useful to LIC?
8. Tell about educational background.
9. What is an insurer?
10. Define the terms- underwriting, sales, agent.
11. How many private life insurance companies in India?
12. Which is on top among them?
13. Name public general insurance companies.
14. How many private general insurance companies are there?
15. Why LIC?
16. Why should we hire you?
17. What are your strengths and weaknesses?
18. What is the difference between confidence and overconfidence?
19. Difference between hard work and smart work?
20. Are you willing to relocate or travel?
21. Can you work under pressure?
22. What motivates you for this job?
23. What are your outside interests?
24. How do you feel about working nights and weekends?
25. What was the toughest decision you ever had to make?
26. Where do you see yourself in 5 years from now?
27. According to your definition of success, how successful have you been so far?
28. Why do you want job in a Government Institution when you can get better salary in Private Jobs?
29. What are your career goals?
30. What is the reason for the current fall of Indian economy?
31. What is the reason for sudden slump in value of rupee and bourses?
32. What are quasi sovereign bonds?
33. What do you know about Planning Commission and its Chairman etc.
34. How can social media be used for marketing?
35. How is E-commerce related to social media?
36. What is a media trial?
37. What is needed for insurance?
38. Who is a policyholder?
39. What is indemnity?
40. What is contract?
41. What is your favorite game?
42. Do you explain who can buy a policy?
43. Where is corporate office of LIC located?
44. What are some of the objectives of LIC?
45. When did the LIC of India come into existence?
46. How is your field experience useful in performing this job?
47. How these qualifications are helpful to you in discharging the duties of Development Officer?
48. What do you know about this job?
49. How do you differentiate between Marketing and Sales?
50. What are the different types of Insurance coverage?
51. Define Insurance Coverage in layman’s terms?
52. What is a premium?
53. What is an insured?
54. Who is the beneficiary?
55. What is the contestable period in an insurance policy?
56. What is the difference between “revocable beneficiary” and “irrevocable beneficiary”?
57. What is no-claim bonus?
58. What is ‘declaration page’ in insurance policy?
59. What do you mean by ‘Loss Payee’?
60. What do you mean by ‘Deductible’?
61. What is Co-insurance?
62. What do you mean by term “Annuity”?
63. What is the Surrender Value?
64. What is Paid Value?
65. Is it advisable to replace the policy with another policy?
66. How to claim the policy?
67. What happens if you fail to make required premium payments?
68. Is it safe to pay the premium through Insurance Agent?
69. Is it possible to get the full payment on cancelling the new policy in free look period?
70. What is the difference between the participating and non-participating policy?
71. Is it possible to restrict the premium payment for a lesser number of years than the duration of the policy?
72. Can beneficiary claim the policy if the insured person is missing or disappeared for several years?
73. What is ‘schedule of loss’ in home insurance?
74. What is the difference between the ‘All perils’ and ‘Specified perils’ coverage in home insurance coverage?
75. What is a ‘PLPD’ insurance stand for?
76. What is the difference between the ‘single limit liability’ coverage and ‘split liability coverage’?
77. What is ‘gap insurance’?
78. What is Personal Accident cover?
79. What is third party Insurance?
80. What is ‘group life’ insurance?
81. What is an ‘Endowment Policy’?
82. What is Elimination period in insurance?
83. What do you know about term life insurance?
84. Define general life insurance.
85. What is cash value?
86. What is subrogation?
87. Tell us something important to you?
88. What are the obligations and elements of IRDA?
89. What is the FDI limit in Insurance sector?
90. What are the destinations of LIC?
91. What is the part of Development Officer?
92. What do you know about Schedule 6?
93. What are current tax exemption limits?
94. How do you handle criticisms?
95. Why do you think you will succeed in this job?
96. What motivates you to do your best while working?
97. What is more important work or money?
98. How will you compensate your lack of experience?
99. What would you like to do – lead or follow?
100. Describe your management style.