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Nepal Insurance Agent License Exam — Practice Quiz

By sushil / August 29, 2026

Test your basic insurance knowledge with these practice questions covering Nepal’s insurance regulator, core terminology, and fundamental principles — ideal for first-time insurance agent license aspirants.

Nepal Insurance Agent License Exam — Practice Quiz

10 questions · 15 minute time limit

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What is the Nepal Insurance Authority (NIA)? A private insurance company The government body that regulates and supervises Nepalu2019s insurance sector A bank that finances insurance companies An association of insurance agents

What was the Nepal Insurance Authority previously known as? Beema Samiti Nepal Rastra Bank Insurance Board of Nepal Securities Board of Nepal

Which of the following best describes the difference between life insurance and non-life (general) insurance? Life insurance covers vehicles; non-life insurance covers people Life insurance provides benefits related to a personu2019s life or death; non-life insurance covers property, vehicles, health, and similar risks There is no real difference between the two Non-life insurance only covers agricultural risks

In insurance, what is a u201cpremiumu201d? The amount an insurer pays to a policyholder after a claim The amount a policyholder pays to the insurer in exchange for coverage A bonus given to top-performing agents The profit earned by an insurance company

What does u201csum assuredu201d refer to in a life insurance policy? The total premiums collected by the insurer from all customers The guaranteed amount payable to the beneficiary on death or maturity, as stated in the policy The agentu2019s commission on the policy The market value of the insureru2019s shares

What is u201cunderwritingu201d in the context of insurance? The process of paying out a claim to a customer The process by which an insurer evaluates risk and decides whether and on what terms to accept it The signing of a partnership agreement between two insurers The marketing of insurance products to new customers

What is an insurance u201cclaimu201d? A request made by the policyholder or beneficiary to the insurer for payment under the policy A complaint filed against an insurance agent The annual report published by an insurer A type of insurance product

Which principle requires both the insurer and the insured to disclose all material facts honestly when entering into an insurance contract? Principle of indemnity Principle of subrogation Principle of utmost good faith (uberrima fides) Principle of contribution

What does the principle of u201cinsurable interestu201d mean? The insured must earn interest income from the policy The policyholder must have a financial or legal stake in the subject being insured, such that its loss would cause them financial harm The insurer must invest premiums in interest-bearing accounts Only banks can hold insurance policies

What does the principle of u201cindemnityu201d generally aim to ensure in non-life insurance? The insured profits from making a claim The insured is restored to roughly the same financial position they were in before the loss, not better The insurer pays a fixed bonus regardless of the loss amount Claims are always paid in installments

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