For each of the following multiple choice questions, choose the most appropriate answer :
1. If 15 year old child enters into contract, the contract is said to be:
A. Voidable
B. Null & Void
C. Nil
D. Indisputability Clause
2. During the process of applying for life insurance, the customer discloses confidentially to the insurance agent that he had a mild stroke four months ago, however this was NOT mentioned on the application form. In accordance with the Insurance Regulatory and Development Authority's Code of Conduct, how should the insurance agent deal with this information?
A. Ask the policyholder's doctor to send details to the insurer
B. Notify the insurer of this matter
C. Refuse to act for the customer in this case
D. Respect this confidentiality by not discussing it with anyone else
3. What is the ceiling of tax exemption under section 80C of Income Tax Act?
A. 1 lakh
B. 1.5 lakhs
C. 2 lakhs
D. 3 lakhs
4. For the agents to carry out their role in a professional manner, they must adhere to tile Code of Conduct specified by which authority?
A. Life Insurance Council
B. Ornbudsman
C. National Insurance Academy
D. IRDA
5. In the sales illustration, the reduction of the actual benefit amount is mainly due to deduction of :
A. Commission
B. Charges
C. Non guaranteed benefits
D. eversionary Bonus
6. Underwriting is an important aspect of insurance business. In which of the following situations uncle-writer must be most cautious?
A. Low age, low sum assured
B. Low age, high sum assured
C. High Low age, high sum assured
D. High Low age, low sum assured
7. The regulations issued by the IRDA, require that the decision on the proposal must be conveyed to the propcser within
A. 15 days of receiving the proposal
B. 20 days of receiving the proposal
C. 25 days of receiving the proposal
D. 30 days of receiving the proposal
8. Peter Rodriguez completes the proposal form and hands it to the agent - Guneesh. Guneesh asks Peter for his College Records as proof to certify his age. Peter somehow was unable to find them. But Peter brought something that Guncesh accepted as standard age proof document. What could this be?
A. His Horoscope prepared at the time of birth
B. ration card
C. certificate of name given at ceremony in church
D. certificate from the village panchayat
9. In the context of financial planning, how is the difference between real needs and perceived needs best described?
A. Real needs are financial needs and perceived needs are non-financial needs
B. Real needs are actual needs and perceived needs are based on a client's thoughts and desires
C. Real needs are identified by the insurance agent and perceived needs are identified by the client
D. Real needs are needs which satisfy an objective and perceived needs are needs which do not satisfy an objective
10. Who gives grant to IRDA?
A. Life Insurance of India
B. Central government
C. Insurance Institute of India
D. All of these
11. If Rahul buys a joint life plan along with his wife, then according to the IRDA's code of conduct for agents, the agent has to act in the interest of :
A. Rahul only
B. Rahul and his wife
C. Rahul and insurer
D. Rahul, his wife and insurer
12. When a person is investing in Debt Mutual Fund, what is the primary objective?
A. Good returns
B. Regalar Income
C. Safety
D. Liquidity
13. In case of life insurance, the insurable interest should exist
A. At the time of taking the policy
B. At the time of claim
C. At the time policy matures
D. At the time of taking the policy & claim
14. Sohan and Amrit are 30 years old unmarried persons. Sohan is having dependent mother whereas Amit has no dependent. Which type of policy most likely to be chosen by Sohan?
A. Child Education policy
B. Life Insurance policy
C. Liability insurance policy
D. Retirernent policy
15. If there is an avtertisement in newspaper regarding policy, It could be due to :
A. Counter Offer
B. Lost Policy
C. Lien
D. Third party claimant
16. Once an absolute assignment is effected under a life insurance policy, who will be the titleholder(s) of this policy?
A. The assignor in all cases
B. The assignee in all cases
C. ither the assignor or assignee depending on the type of policy involved
D. The assignor and assignee jointly
17. Kabir wants to invest in shares and golWhat benefits would he get?
A. Capital appreciation
B. Interest earning
C. Dividend earning
D. ncome and appreciation both
18. The process of de-tariffication is referred to as :
A. Free hand for risk assessment
B. No mortality tables
C. Freeing the pricing of insurance
D. Imposing price of insurance
19. What are the financial planning need for a 38 year old lady with 2 year young daughter, whose husband has passed away leaving enough insurance cover?
A. Estate planning
B. Investment management
C. Loan protection
D. Pension planning
20. An elderly person wants to use tax efficient investment and invests in senior citizen saving schemWhat is its impact in his taxation?
A. Tax benefit up to 5,000
B. Tax benefit up to 25%
C. Reduction in tax slab
D. Entire investment deducted from taxable income
Electrician Books
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Rs270 |
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Rs270 |
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Rs505 |
Rs536 |
Rs217 |
Rs250 |
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Rs258 |
Rs299 |
Rs88 |
Rs101 |
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Rs387 |
Rs315 |
Rs360 |
Rs270 |
Rs245 |
Rs378 |
Rs459 |
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Rs187 |
Rs136 |
Rs299 |
Rs266 |
Rs180 |
Rs201 |
Rs39 |
Rs323 |
Rs360 |
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Rs288 |
Rs270 |
Rs323 |
Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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