For each of the following multiple choice questions, choose the most appropriate answer :
1. How are perils and hazards normally distinguished under term insurance policies?
A. Perils are medical factors which influence the risk of dying and hazards are lifestyle activities which influence the risk of dying
B. Perils are risks that policyholders will die before a specified date and hazards are factors which could influence that risk
C. Perils are factors which affect the risk being insured and hazards are the size of the risk being insured
D. Perils are factors which could influence an insured event occurring and hazards are the actual events which will trigger a payout
2. If the client dots not wish to proceed with the recommendations at the moment the agent should :
A. Insist on taking the product right away
B. Ask for the reason for not going with the recommendation
C. Ask for a future date from the client
D. Should review once again
3. An life insurance agent can work for how many life insurance companies at a given time?
A. 1
B. 2
C. 5
D. Any number
4. 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
5. 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
6. 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
7. Certificate from the village panchayat as an age proof
A. Will be considered as standard age proof
B. Will be considered as non standard age proof
C. Will not be accepted
D. Depends on the insure
8. An agent does fact finding for a married couple with 9 year old chilThe agent identifies that they need Life insurance Protection, Child Insurance, Pension plan and health Insurance. Which of them should be given least preference?
A. Child Plan
B. Pension Plan
C. Health plan
D. Life insurance
9. In order to ensure that premiums are paid out of a legitimate source of funds cash is accepted :
A. Upto 50,000
B. Upto 25,000
C. Upto 10,000
D. Upto 5,000
10. Mr Ramesh has taken a life police as recommended by an insurance agent. Now the role of Agent's Principal lies with :
A. Insured
B. Insurance Company
C. Proposer
D. IRDA
11. Shailesh and Ankit want to retire in the age of 65 yrs. But shailesh pays more monthly premium thau ankit. Why?
A. Shailesh is older than ankit
B. Ankit is older than Shailesh
C. Shailesh earns more than Ankit
D. Ankit earns more than Shailesh
12. Prashant buys an Endowment Plan with a sum assured of Rs100,000 and wants to make use of tax benefit under the policy for whole SHow much premium would help him avail this benefit?
A. Less than 10,000
B. More than 10,000
C. Less than 20,000
D. More than 20,000
13. Who gives grant to IRDA?
A. Life Insurance of India
B. Central government
C. Insurance Institute of India
D. All of these
14. As per Regulation foi- protection of Policyholder's interest 2002 (IRDA), Which insurer will have a grievance redressal System?
A. Some specified insurers
B. Insurers without ombudsman
C. All insurers
D. It is optional
15. Controller of Insurance was dissolved and its activities taken over by :
A. SEBI
B. IRDA
C. RBI
D. Central Government
16. Rakesh recently bought a health insurance policy and a personal accident policy. What main section(s) of the insurance market do these products normally fall into?
A. Life insurance in both cases
B. Life insurance for health and non-life insurance for personal accident
C. Non-life insurance in both cases
D. Non-life insurance for health and life insurance for personal accident
17. Health insurance policyholder takes treatment in a hospital which doesn't have cashless facility. How will the policy holder get benefited?
A. A Need to spend and get claim frorn the insurer
B. Need to add that hospital as TPA
C. Cannot claim
D. Need to switch to the another insurer
18. In case of absolute assignment, the payment is made to
A. Insured
B. Assignee
C. Nominee
D. Appointee
19. If a lien is applied it would lead to:
A. Decrease in Premium
B. Increase in Premium
C. Decrease in Claim amount
D. Reduced Sum Assured
20. Rohit died and was paid the claim, which was less though he had paid all the premiums on time, what is the reason for the same?
A. Lien was applied to the Policy
B. Term plan was taken
C. ADrider was attached
D. Policy was affected due to moral hazards
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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