For each of the following multiple choice questions, choose the most appropriate answer :
1. During fact finding, what will be the next step after Identifying clients need :
A. Quantify client's need
B. Prioritize clients Need
C. Recommending Product
D. Fill up the proposal form
2. As per IRDA Regulations, in how many days an insurer has to settle the claim?
A. 15
B. 30
C. 45
D. 60
3. The changes in healthcare costs over recent years has had what general impact on healthcare insurance?
A. A fall in average premium levels
B. A reduction in underwriting requirements
C. A rise in the need for cover
D. A strengthening of the insurable interest rules
4. Ravi has submitted a health insurance policy proposal form along with the documents In how much time should he receive the copy of the form submitted :
A. 10 days
B. 15 days
C. 30 days
D. 180 days
5. Whuch institute is concerned with insurance training, education, research and publication, and risk management :
A. IRDA
B. National Insurance Academy (NIA)
C. Insurance Institute of India
D. Life Insurance Corporation
6. In case of nomination process under what circumstances an appointee is made?
A. Nominee is minor
B. Nomination relation is not established
C. Assignment is made
D. All these
7. 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
8. If the sum assured remains the same, what will be impact on net premium if the age of the policy holder increases :
A. It rises
B. It falls
C. It remains constant
D. Gross premiums increases
9. When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?
A. Emergency funds
B. Funds for children's savings
C. Funds for educational costs
D. House purchase funds
10. 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
11. 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
12. From Insurance Company's point of view, most important aspect in a Term Insurance policy lies with :
A. Good ethics
B. Fact findings
C. The proposal
D. Underwriting process
13. Mortality rate helps to identify
A. Peril
B. Level of Risk
C. Uncertainty
D. Hazard
14. An indemnity bond was signed in policy when the claim was paiThis indicates that the policy was
A. lost
B. paid u
C. lapse
D. surrendered
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. 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. What is the key differentiator between the Recurring Deposit & Cumulative Deposit taken by a customcr from a bank?
A. Amount invested
B. Taxation
C. Time period
D. Interest
18. Following Ramesh's death, the sum insured paid to his family was less than the surn insured in spite of paying all the premiums on time. What could be the reason?
A. Insurable Interest
B. Fraud by the company
C. Lien
D. Exclusion clause
19. What kind of policy does the employer who has insurable interest in the life of an employee take?
A. Surety insurance
B. Key man Insurance
C. Partnership Insurance
D. Debtor Insurance
20. If a person is responsible to determine and finalize the rates of various insurance products for an insurer, which body/society is he a member of :
A. Institute of Actuaries in India
B. Insurance Institute of India
C. IRDA
D. Life Insurance Council
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 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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