For each of the following multiple choice questions, choose the most appropriate answer :
1. 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
2. In which section of Policy document, Information about the location of the insurance Ombudsman had written?
A. Operative clause
B. Attestation
C. Information statement
D. Endorsements
3. If a policy with premium of Rs5000 has matured, how much will be deducted when tile maturity claim arises :
A. Nil
B. 1%
C. 5%
D. 10%
4. 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
5. The main role of an underwriter in a non-life insurance company is normally to
A. assess the acceptability of particular risks
B. certify a loss when claims are submitted
C. design the structure of the products to be offered
D. negotiate with the industry regulator
6. Based on which criteria the qualification of agent is determined?
A. Address of the agent
B. Domicile status
C. City/town of appointment
D. Caste
7. 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
8. 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
9. Which is the proper place to purchase Kisan Vikas Patra from?
A. Asset management company
B. Share market
C. Insurance company
D. Post office
10. Mrs. Sheela received some amount from her husband's insurance policy after his death. In such a situation what will be her prime focus?
A. Savings
B. Insurance
C. Investment management
D. Planning for pension
11. An insurance agent sold two policies to two different persons having the same policy term. He declares the commission to each of them. The commission of one of the policy is more than the other. What should be the reasons for this difference?
A. Risk profile of both the policyholders is different
B. Age of both the policyholders is different
C. One has chosen lump sum premium policy and other has chosen regular premium policy
D. Both have chosen different kind of policies
12. In case of absolute assignment, the payment is made to
A. Insured
B. Assignee
C. Nominee
D. Appointee
13. Zainegot insurance done for Jaismeet. Who would zainebe referred to as:
A. Life Insured
B. Proposer
C. Customer
D. Insurer
14. A person earns 80,000 per month as salary. He has taken a house loan of 5.00,000. What would be the maximum amount of EMI that can be charged by the Bank to recover the loan amount?
A. 32,000 Per moth
B. 24,000 per mouth
C. 40,000 per month
D. 48000 per month
15. 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
16. 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
17. If the agent recommends the client to terminate an endowment plan and take a whole life in order to earn higher commission its termed as:
A. Switching
B. Financial planning
C. Churning
D. None of these
18. 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
19. 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
20. During fact-finding, two needs were identified as margin money and planning for retirement. Which of the two should be given preference?
A. Margin Money
B. Retirement
C. Current Age and Priority will decide about aiven preference
D. Customer wants will decide the preference
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 |
Union Bank of India Account 448301010293420 Global Book Shop IFSC: UBIN0544833
Global Book Shop
B-1/104 Paschim Vihar, New Delhi 110063
Tel: 01142316457, 9810570740 facebook.com/doctorkc