For each of the following multiple choice questions, choose the most appropriate answer :
1. According to Insurance Brokers Association of India, what is the most appropriate relationship between insurer and broker?
A. Insurance broker represents the client and the insurer remunerates the broker
B. The client reprsents the broker and the insurer remunerates the broker
C. Insurer represents both client and broker remuneration
D. Broker only services the client
2. The ombudsman's powers are restricted to insurance contracts of value not exceeding?
A. 50 lac
B. 30 lac
C. 25 lac
D. 20 lac
3. 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
4. The concept of indemnity is based on the key principle that policyholders should be prevented from
A. insuring existing losses
B. making false insurance claims
C. paying excessively for insurance cover
D. profiting from insurance
5. In case of insurance, consideration refers to:
A. Premium paid
B. Insurance acceptance
C. Age
D. Tenure of policy
6. The lung cancer is aggravated by smoking. In terms of insurance, these are respectively known as
A. Hazard & peril
B. Peril & hazard
C. Effect & cause
D. Either peril or hazard
7. Insurance companies are required to honour the awards passed by the insurance ombudsman within :
A. 15 days
B. 1 month
C. 2 months
D. 3 months
8. A customer gets periodic benefits without any claim and then when he dies during the term of the policy. His nominee gets the sum insured. What type of policy is this ?
A. Endowment
B. Term
C. Money back
D. Whole life
9. In a fact find process, the product recommended by an agent should depend on:
A. The need
B. The earning potential
C. Premium paying capacity
D. None of the above
10. Job of a nodal officer of insurance company involves :
A. Addressing customer grievances
B. Deciding, the premium to be charged
C. Imparting training
D. Looking after sales
11. What will insuranc companies do in case heavy loss incurred to them beyond their limit?
A. Reinsurance
B. Bancassurance
C. Pay less Sum Assured
D. Reject the claim
12. Based on which criteria the qualification of agent is determined?
A. Address of the agent
B. Domicile status
C. City/town of appointment
D. Caste
13. An investment mode which involves investment in different companies :
A. Kisan Vikaspatra
B. Mutual fund
C. Bank FD
D. Corporate bonds
14. National Insurance academy has the following main function :
A. Calculating premium
B. Interact with the government
C. Training
D. Mortality analysis
15. The basic reason of doing an income and expenditure analysis is to find out:
A. Fund on Retirement
B. Net Income
C. Affordability
D. Assets and Liabilities
16. 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
17. During a fact finding process the need analyzed were income replacement and children's education. But the customer insists on only a child plan for the time being and asks the agent to give him a child plan. The agent should :
A. Do the fact finding exercise again
B. Insist with the client to take a term plan
C. Give a child plan and revisit the client on a later date
D. Give the lead to another agent
18. The insurer rejects proposal and sends direct letter to the proposer, copy of the letter is also sent to the agent. What appropriate action would the agent take?
A. Contact the proposer and discuss the reasons for rejection
B. Fill new proposal form
C. Advise the proposer to contact the ombudsman
D. Advise the proposer to take insurance from another company
19. According to the Insurer, the Authenticity of an Assignment depends upon:
A. The type of policy
B. separate deed
C. The type of Loan
D. the receiving of notice
20. Law of large numbers is worked out by which of the following
A. Pooling of risk
B. Maintaining insurable interest
C. With utmost good faith
D. Randomness
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 |
Rs378 |
Rs459 |
 |
Rs187 |
Rs136 |
Rs299 |
Rs266 |
Rs180 |
Rs201 |
Rs39 |
Rs323 |
Rs360 |
Rs260 |
Rs288 |
Rs270 |
Rs323 |
Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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