LIC ADO Mains flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Either-or case in syllogism

A complementary pair such as 'Some A are B' and 'No A are B'. Choose either-or only when both conclusions are individually false and together the pair covers every possibility.

Ranking total formula

Total persons = rank from left + rank from right - 1. A person 5th from the left and 9th from the right gives 5 + 9 - 1 = 13 people in the row.

Clock angle formula

Angle between hands = |30H - 5.5M| degrees, where H is the hour and M the minutes. If the answer crosses 180, subtract it from 360 to get the smaller angle.

Only son in blood relations

'Only son of X' means X has exactly one male child, so the person is X's son and has no brothers. 'Only child' removes all siblings, brothers and sisters alike.

Circular seating facing centre

When people face the centre of a circle, a person's left is clockwise and right is anticlockwise. Reverse both directions when the group faces outward instead.

EJOTY letter position trick

E = 5, J = 10, O = 15, T = 20 and Y = 25 give quick anchors in the alphabet. The reverse position of any letter is 27 minus its forward position.

CI minus SI, two years

For two years the difference between compound and simple interest is P(r/100)^2. For three years it becomes P(r/100)^2 multiplied by (3 + r/100).

Alligation ratio rule

The ratio of two mixed quantities is (price of dearer - mean price) : (mean price - price of cheaper). The same rule handles average price and mixture replacement problems.

Train crossing a platform

Time = (train length + platform length) / speed of the train. When a train crosses a pole or a standing person, only the train's own length is used.

Upstream and downstream formula

Downstream speed = boat + stream and upstream = boat - stream. Boat speed = (downstream + upstream)/2 while stream speed = (downstream - upstream)/2.

Successive discount equivalent

Two successive discounts of a% and b% equal one discount of a + b - ab/100 percent. For three discounts, apply the same two-discount formula to the first pair, then to the result.

Work efficiency equation

M1 D1 H1 / W1 = M2 D2 H2 / W2, with M men, D days, H hours daily and W work. If A takes x days and B takes y days, together they take xy/(x + y).

Dishonest shopkeeper gain

When a seller uses a weight lighter than stated, gain% = error / (true value - error) x 100. The error is the gap between the claimed weight and the weight actually given.

RBI establishment facts

The Reserve Bank of India started operations on 1 April 1935 under the RBI Act 1934, was nationalised in 1949, and has its central office in Mumbai.

Monetary Policy Committee

Six members: three from RBI with the Governor as chair, and three nominated by the Central Government. It sets the repo rate to hold CPI inflation at 4% plus or minus 2%.

IRDAI headquarters and Act

The Insurance Regulatory and Development Authority of India was created by the IRDA Act 1999 and is headquartered in Hyderabad, regulating life, general and health insurers across the country.

LIC IPO of 2022

LIC listed on the stock exchanges in May 2022 after the government sold about 3.5% stake for roughly Rs 20,557 crore, India's largest IPO, retaining about 96.5% ownership.

PMJJBY scheme cover

Pradhan Mantri Jeevan Jyoti Bima Yojana provides Rs 2 lakh life cover for an annual premium of Rs 436 to bank account holders aged 18 to 50 years.

Atal Pension Yojana benefit

APY is open to subscribers aged 18 to 40 and pays a guaranteed monthly pension of Rs 1,000 to Rs 5,000 after age 60, with the spouse receiving the same pension.

FDI cap in insurance

Foreign investment in Indian insurance companies is capped at 74%, raised from 26% in 2021. Budget 2025 proposed 100% for insurers that invest the entire premium within India.

Insurable interest

The policyholder must benefit from the subject's continued existence and lose financially from its loss. In life insurance it must exist at proposal; in general insurance, at the time of loss.

Principle of indemnity

The insured is restored to the pre-loss financial position and never profits from a claim. It governs fire, marine and health insurance but is not applied to life insurance policies.

Utmost good faith

Both insurer and insured must disclose every material fact. Non-disclosure or misstatement of health, occupation or habits allows the insurer to repudiate the claim even years later.

ULIP meaning

A Unit Linked Insurance Plan combines life cover with market-linked investment. Premiums are split between risk cover and units priced at net asset value, with a five-year lock-in.

LIC ADO full form

Apprentice Development Officer. The role involves recruiting, training and motivating insurance agents, achieving business targets and servicing policies before confirmation as Development Officer.

Cross-selling versus upselling

Cross-selling sells a different product to an existing customer, such as a health policy to a life policyholder. Upselling sells a larger cover or higher-value version of the same product.

Rebating under Section 41

The Insurance Act 1938 bars an agent from giving any part of commission or other inducement to win business. Rebating invites penalties and can lead to cancellation of the agent's licence.

Para jumble opener clue

The first sentence of a paragraph introduces a noun or idea without back-reference and does not begin with connectors such as however, therefore, hence or moreover.

Each takes a singular verb

Indefinite pronouns such as each, every, either, neither, anyone, everyone and nobody take a singular verb and singular pronoun in formal written English.

Idiom: bite the bullet

To bite the bullet means to face an unpleasant or difficult situation with courage rather than avoiding it. It functions as a verb phrase in a sentence.

RC extreme-word trap

Options containing always, never, only, must or all are usually wrong unless the passage states them exactly. Prefer hedged options that the text directly supports.

Comparatives taking 'to'

Senior, junior, superior, inferior, prior and preferable are followed by 'to', not 'than'. Write 'superior to the old model', never 'superior than the old model'.