For each of the following multiple choice questions, choose the most appropriate answer :
1. What should an agent do to understand the state of mind of the client with respect to his investments in saving products?
A. Fact finding
B. Consulting the client's parents
C. C Consulting the family of the client
D. Reviewing his existing investments
2. Sahil & Vijay buy an insurance plan for same sum assured, but only Vijay was called for medical examination.Why?
A. Vijay is younger than Sahil
B. Vijay is older than Sahil
C. Sahil has Kids & Vijay has no kids
D. Sahil is self employed
3. An investment mode which involves investment in different companies :
A. Kisan Vikaspatra
B. Mutual fund
C. Bank FD
D. Corporate bonds
4. 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
5. 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
6. 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
7. In insurance terms, the risk of suffering a disability is best described as what type of risk?
A. Financial
B. Fundamental
C. Homogenous
D. Speculative
8. In term plan, with permission from insurer, how much rebate can be offered by agent to the customer?
A. 50% of the commission
B. 10% of the commission
C. 25% of the commission
D. No rebate can be offered
9. While calculating HLV using income replacement method - future income, number of years of work, increments in salary are taken into account. What else is important to be taken into account?
A. Inflation
B. Interest
C. Discount rate
D. Compounding
10. Loan can be taken against life insurance policies. The loan can be specific percentage of which value?
A. Paid up value
B. Surrender value
C. Total premiums paid
D. Sum assured
11. While calculating the retirement fund needed by a client, the agent does not consider the gratuity element. That is because the client is a :
A. Public sector employee
B. Private sector employee
C. Self employed
D. Salaried employee
12. Central Government may supercede IRDA ::
A. through a motion in parliament
B. by issuing a notification
C. by ammeding IRDA Act
D. by any of these
13. An advisor has identified need of the client. Now should he communicate the details of the product to the customer or what is the next step after identifying client needs?
A. Identifying new need
B. Prioritizing the needs
C. Assess the need in monetary terms
D. Ask for details of the client
14. What is the stipulated time frame within which an insurer is supposed to respond after receiving any communuication from its policyholders?
A. 1 day
B. 5 days
C. 10 days
D. 30 days
15. Person comes back to previous comfortable financial position after suffering with loss. This is because of the following insurance Principle
A. Proximity
B. Insurable Interest,
C. Utmost good faith
D. Principle of Indemnity
16. The general need for a pension policy results from the existence of what key problem?
A. Anticipated fall in income
B. Lack of employment opportunities
C. Likely deterioration in health
D. Uncertainty over investment performance
17. 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
18. An individual is said to be competent to enter into contract if he is
A. 18 year old
B. 21 year old
C. 23 year old
D. 25 year old
19. The time period within which as per the IRDA Guidelines the Insurer has to intimate the Insured and compete the extra documentation formalities as required for passing the decision of proposal acceptance is:
A. 10 Days
B. 12 Days
C. 15 Days
D. 20 Days
20. If Insurable interest does not exists at the time of inception of the life insurance policy then, life insurance contract is
A. Voidable
B. Invalid
C. Valid
D. Null & voidable
Electrician Books
Rs405 |
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Rs270 |
Rs278 |
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Rs270 |
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Rs315 |
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Rs180 |
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Rs217 |
Rs250 |
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Rs299 |
Rs88 |
Rs101 |
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Rs387 |
Rs315 |
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Rs270 |
Rs245 |
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Rs459 |
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Rs136 |
Rs299 |
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Rs39 |
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Rs270 |
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Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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