For each of the following multiple choice questions, choose the most appropriate answer :
1. While planning for retirement of the client, the agent must consider his expenses and :
A. Health
B. Saving habits
C. Dependants
D. Inflation
2. Consensus ad idem specifically describes which feature of valid contract?
A. Capacity to contract
B. Direct contact with each other
C. Same understanding
D. Consideration
3. According to insurance terminology which of the following is correct?
A. Lung cancer is hazard whereas smoking is peril
B. Smoking is hazard and lung cancer is peril
C. Both lung cancer and smoking are perils
D. Both lung cancer and smoking are hazards
4. When can an insurance company give more than 35% first year commission?
A. When the Insurance Company is in the first 15 years of operation
B. If the agent has worked with the company for more than 10 years
C. If the agent is performing exceptionally well
D. When the insurance company is in the first 10 years of operation
5. 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
6. If insured gets the two advance payments in the 5 yrs and on maturity, he gets rest of sum assured, what type of policy it is?
A. Moriey back policy
B. Convertible plan
C. Term plan
D. Endowment policy
7. An indemnity bond was signed in a policy when the claim was paiThis indicates that the policy was :
A. Lost
B. Paid up
C. Lapsed
D. Surrendered
8. What is the need of doing the Fact Finding Analysis of a Customer?
A. To ensure and increase Sale
B. Correct Need Analysis
C. To follow IRDA Guidelines
D. To relate the Monetary benefits
9. For a household insurance policy, insurable interest need only exist at outset and at what other point?
A. The date the cancellation period expires
B. The date a claim occurs
C. The date the policy document is received
D. The termination date
10. With reference to the principle of indemnity life insurance policy is
A. Insurance contract
B. Indemnity contract
C. Value contract
D. Major life contract
11. What will be the effect on lien amount in 3rd year as compared to the 4th year of lien
A. Higher
B. Lower
C. Slightly higher
D. Slightly lower
12. Insurance companies are required to honour the awards passed by the Insurance ombudsman within how many days?
A. 10 days
B. 15 days
C. 20 days
D. 25 days
13. Who are the clients for Re-insurance companies?
A. HNIs
B. Insurance companies
C. NRIs
D. All agents
14. Margin money is built up by investing in schemes to buy :
A. Car insurance
B. Property
C. Insurance
D. Marriage venue
15. If the annual premium for plan is 32,000 and frequency loading of 4% is added in quarterly premium, what is the amount that needs to be paid?
A. 8000
B. 8320
C. 9456
D. 9240
16. In term of risk, mortality tables are used by Life Insurance companies in order to help them quantify the
A. Moral Hazard of an individual risk
B. P)ysical Hazard of an individual risk
C. Probability component of risk
D. Severity component of risk
17. What is the maximum sum assured under micro insurance?
A. 10,000
B. 25,000
C. 50,000
D. 100,000
18. For an insurance plan of term 20 years, when will the persistency bonus be paid?
A. After each year
B. After 5 years
C. After 10 years
D. After 20years
19. Indisputability clause can be enforced by the insurance company during the
A. First five years of policy
B. First Two years of policy
C. Claim
D. Inception of the policy
20. 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
Electrician Books
Rs405 |
Rs405 |
Rs270 |
Rs278 |
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Rs270 |
Rs279 |
Rs315 |
Rs315 |
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Rs216 |
Rs225 |
Rs180 |
Rs180 |
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Rs315 |
Rs279 |
Rs342 |
Rs279 |
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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 |
Rs260 |
Rs288 |
Rs270 |
Rs323 |
Rs215 |
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Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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