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MCQ Practice by Saksham Chaudhry : Global Book Shop B-1/104 Paschim Vihar, New Delhi 110063 Tel: 01142316457, 9810570740
MCQ PRACTICE
by Saksham Chaudhry : Lancers Convent, Prashant Vihar, New Delhi 110085
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Insurance IC33
FORENSICMEDICINE
FITTER
ENDODONTICS
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SURGERY
A fresh set of 20 random questions is generated every time you open this page and every time you refresh it.
For each of the following multiple choice questions, choose the most appropriate answer :

1. If Rajesh earns 5% net return on fixed deposit with 8% interest, where did remaining 3% vanish?
A. Decrease in tax rates 
B. Lockins 
C. Penalties 
D. Inflation 

2. Rajan takes a family floater health insurance of Rs 3 lacs from Insurance Company X and has health insurance of Rs 2 lacs from another Insurance Company Y from his employer's side. He suffers from heart attack and has a total bill of Rs 4 lacs. He can claim from :
A. Company X Only 
B. Company Y Only 
C. Both the companys to the extent of Rs 4 Lacs 
D. Both the companys to the extent of Rs 5 Lacs 

3. An insurance agent has advised a client to surrender an existing investment product and start a new investment product. What key indicator should be used to determine whether this advice was ethical?
A. The best interests of the client 
B. The difference in potential income and capital growth between the two products 
C. The flexibility of the new product compared to the old one 
D. The views expressed by the client 

4. Mr Sudhakar wants to invest in post office term deposit for tax benefits. What is the minimum duration for which he needs to invest this money?
A. 1 year 
B. 2 years 
C. 5 years 
D. 10 years 

5. In case the customer has stopped making payment for the premium of the policy, what are the two most important things required in order to reinstate the policy?
A. Payment of oustanding premiums with interest and Proof of continuing good health 
B. Payment of oustanding premiums and health declaration 
C. Only medical report 
D. Current premium and arrears 

6. In order to fulfil the ˜know your customer' procedures, at what stage in the financial planning process is the insurance agent most likely to request a copy of the customer's photograph?
A. At the end of the fact-find meeting 
B. At the end of the presentation meeting 
C. As soon as the application is accepted by the insurer 
D. As soon as the insurer is ready to issue the policy document 

7. For an insurance agent, a low persistency ratio means
A. Loss of renewal commission 
B. High client satisfaction 
C. Higher reputation 
D. More earning of First Year Commission 

8. What key impact will low persistency levels have on insurance policyholders?
A. An enhancement in product choice 
B. An improvement in investment performance 
C. An increase in insurance cover 
D. A reduction in benefits 

9. The amount paid out by the insurer under a 30-year life insurance policy exceeded the sum insured plus revisionary bonuses. The excess is likely to result from?
A. charges refunded 
B. a frequency loading 
C. a tax rebate 
D. a terminal bonus 

10. An insurance agent sold two policies to two different persons having the same policy term. He declares the commission to each of them. The commission of one of the policy is more than the other. What should be the reasons for this difference?
A. Risk profile of both the policyholders is different 
B. Age of both the policyholders is different 
C. One has chosen lump sum premium policy and other has chosen regular premium policy 
D. Both have chosen different kind of policies 

11. A valid claim is delayed bv the insurer. The interest for the same will have to be paid by the Insurance company after how many days from the date of admission of the claim?
A. 10 days 
B. 20 days 
C. 30 days 
D. 60 days 

12. When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?
A. Emergency funds 
B. Funds for children's savings 
C. Funds for educational costs 
D. House purchase funds 

13. An insurance company has issued policy document to one of its policy holder. In the policy document the company mentioned the payment of premium by the insured, payment of Sby the insurance company on the happening of insured event etwhich part of the policy document is most likely to contain such matter?
A. Preamble 
B. Schedule 
C. Terms and conditions 
D. Operative clause 

14. Nikhil is a young professional working in an organization at good position. He is independent and has no dependants. Which plan will you suggest him?
A. Term Plan 
B. Convertible Plan 
C. Return of Premium Plan 
D. Unit Linked insurance plan 

15. Mr Anwar has taken a Term Insurance Policy from Insurance Company. A term insurance is basically what kind of contract?
A. Indemnity Contract 
B. Insurance Contract 
C. Both these 
D. Neither of these 

16. Interim policy loading is added for:
A. Administrative expense 
B. Mortality 
C. Bonus 
D. Morbidity 

17. If the annual premium for a plan is 32000 and a frequency loading of 4% is added in a premium, what is the amount that needs to be paid?
A. 8000 
B. 8320 
C. 9456 
D. 9240 

18. As per Insurance Act 1938 which of below bodies was formed?
A. Tariff Advisory Committee 
B. National Insurance Academy 
C. IRDA 
D. Insurance Institute of India 

19. The guaranteed and nonguaranteed values to be depicted in the Benefit illustration are in accordance with regulation issued by :
A. Insurance Regulatory Devetopment Authority 
B. Life Insurance Council 
C. IIRM 
D. Insurance Institute of India 

20. XYZ Insurance Company has started promoting their insurance products mostly through Television and Newspaper advertisements. Hence, the said company is operating through
A. Direct channel 
B. Indirect channel 
C. Using both the channels 
D. Agent channel 

Electrician Books

Rs405

Rs405

Rs270

Rs278

Rs270

Rs279

Rs315

Rs315

Rs216

Rs225

Rs180

Rs180

Rs315

Rs279

Rs342

Rs279

Rs505

Rs536

Rs217

Rs250

Rs258

Rs299

Rs88

Rs101

Rs387

Rs315

Rs360

Rs270

Rs245
Fitter Books

Rs378

Rs459

Rs187

Rs136

Rs299

Rs266

Rs180 

Rs201

Rs39

Rs323

Rs360

Rs260

Rs288

Rs270

Rs323

Rs215

Rs243

Rs160

Rs225

Rs387

Rs315

Rs359

Rs288

Rs270
PLUS Rs100 Delivery Charges
Union Bank of India Account 448301010293420 Global Book Shop IFSC: UBIN0544833

Global Book Shop
B-1/104 Paschim Vihar, New Delhi 110063
Tel: 01142316457, 9810570740 facebook.com/doctorkc