For each of the following multiple choice questions, choose the most appropriate answer :
1. Which body has created call center for logging complaint
A. Life Insurance Council
B. IRDA
C. Insurance Association
D. Insurance Institute of India
2. Controller of Insurance was dissolved and its activities taken over by :
A. SEBI
B. IRDA
C. RBI
D. Central Government
3. What key event is most likely to prevent insurers from ensuring that each insured person brings a fair premium to the pool for the risk presented?
A. A fraudulent claim
B. A policy assignment
C. A steep rise in inflation
D. A sudden illness
4. What key legacy has been left by the activities of the Tariff Advisory Committee?
A. A central compensation fund
B. Customer classification status
C. Illustrative projection rates
D. Standard policy wordings
5. 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
6. 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
7. As per Insurance Act 1938 which of below bodies was formed?
A. Tariff Advisory Committee
B. National Insurance Academy
C. IRDA
D. Insurance Institute of India
8. Pooling of insurance applies to
A. All types of insurance
B. All types of insurance except Motor insurance
C. Only life insurance
D. Only Non-life insurance
9. If a person is concentrating more on health plan and retirement plan. which stage is he at :
A. Old married
B. Young married
C. Young married with kids
D. Pre Retirement
10. 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
11. 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
12. In a policy detail of two persons is required in Non Medical Section of Proposal form because :
A. It is a Joint Life Policy
B. It is taken on another Life
C. It is a Whole Life Plan
D. Person being insured is a minor
13. A person receives Discounted Claim in context to :
A. profit in policy
B. Duration of policy
C. Timing of maturity
D. Interest
14. The claim was paid in policy and it was advertised in the newspaper also. This indicates that the policy was :
A. assigned
B. paid up
C. lost
D. surrendered
15. An indemnity hond was signed when the claim was paiThis indicates that the policy was :
A. lost
B. paid tip
C. lapse
D. surrendered
16. After doing the need analysis of the client, the agent advised the client to opt for TROP product. But the client refuseAccording to ethical business practices what should the agent do?
A. Enquire about the refusal from the client
B. Suggest an alternative plan
C. Pass on to a senior
D. Pass on to the other agent
17. National Insurance academy has the following main function :
A. Calculating premium
B. Interact with the government
C. Training
D. Mortality analysis
18. If a license has been cancelled and agent disqualified by a designated authority in 2010 then in which year can the same person apply for fresh license?
A. 2013
B. 2015
C. 2017
D. 2020
19. 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
20. The sole focus during a client's fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into?
A. Young married
B. Young married with children
C. Pre-retirement
D. Retirement
Electrician Books
Rs405 |
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Rs270 |
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Rs270 |
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Rs315 |
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Rs217 |
Rs250 |
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Rs88 |
Rs101 |
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Rs387 |
Rs315 |
Rs360 |
Rs270 |
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Rs136 |
Rs299 |
Rs266 |
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Rs39 |
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Rs288 |
Rs270 |
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Rs387 |
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Rs288 |
Rs270 |
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