For each of the following multiple choice questions, choose the most appropriate answer :
1. Which of the following is most associated with Pure Risk?
A. Helps in making substantial profits
B. Making little loss
C. Incuring huge loss
D. Break even
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. The policy is of term 30 years. For how many years maximum lien can be applied?
A. 5
B. 10
C. 15
D. 20
4. The main purpose of including commission details in the documentation to clients is to increase
A. competitiveness
B. efficiency
C. flexibility
D. transparency
5. An elderly person wants to use tax efficient investment and invests in senior citizen saving schemWhat is its impact in his taxation?
A. Tax benefit up to 5,000
B. Tax benefit up to 25%
C. Reduction in tax slab
D. Entire investment deducted from taxable income
6. 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
7. If a person aged 25 vears, wants to take a plan, wherein, he can have sorne savings element and also the protection should be for indefinite tinie, which plan would you suggest, as an agent :
A. Endowrnent Plan
B. Unit Linked Insurance Plan
C. Term Plan
D. Whole Life Plan
8. The Institute of Insurance and risk management is engaged in providing insurance education and :
A. Regulatiom
B. Redressal
C. Research
D. Repository
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. If lien has bcen levied on policy for the 1st 5 years, then it's impact in the 3rd year as compared to 4th year will be
A. lesser
B. higher
C. equal
D. none
11. 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 upon 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
12. When can an insurance agent suggest a Young Married Couple to purchase a ULIP policy?
A. Young Married Couple with single income no children
B. Young Married Couple with double income no children
C. Young Married Couple with children and double income
D. Young Married Couple with children and single income
13. Weekly premium option can be taken in which kind of policy?
A. Term policy
B. Whole life policy
C. Micro insurance
D. ULIP
14. In order to ensure that premiums are paid out of a legitimate source of funds cash is accepted :
A. Upto 50,000
B. Upto 25,000
C. Upto 10,000
D. Upto 5,000
15. An insurance company has issued policy document to one of its policy holder. In the policy document the company mentioned the payment of premium by the insured, payment of Sby the insurance company on the happening of insured event etwhich part of the policy document is most likely to contain such matter?
A. Preamble
B. Schedule
C. Terms and conditions
D. Operative clause
16. A person has invested in post office monthly lncome schcme. The interest rate was set at 6%. What will be the effect on inyterest rate as years go by?
A. Increase gradually
B. Decrease gradually
C. Remain Constant
D. Vary with market fluctuation
17. If Rahul buys a joint life plan along with his wife, then according to the IRDA's code of conduct for agents, the agent has to act in the interest of :
A. Rahul only
B. Rahul and his wife
C. Rahul and insurer
D. Rahul, his wife and insurer
18. 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
19. 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
20. In case of a self employed person, it is important to know the work of the person because:
A. It helps in classifying the risk
B. It helps in determining moral hazard
C. It helps to determine approximate timing of death
D. It helps in determining chances of disability
Electrician Books
Rs405 |
Rs405 |
Rs270 |
Rs278 |
|
Rs270 |
Rs279 |
Rs315 |
Rs315 |
|
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 |
|
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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