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MCQ Practice by Saksham Chaudhry : Global Book Shop B-1/104 Paschim Vihar, New Delhi 110063 Tel: 01142316457, 9810570740
MCQ PRACTICE
by Saksham Chaudhry : Lancers Convent, Prashant Vihar, New Delhi 110085
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A fresh set of 20 random questions is generated every time you open this page and every time you refresh it.
For each of the following multiple choice questions, choose the most appropriate answer :

1. Whole life policy document is :
A. Contract of Insurance 
B. Evidence of Contract 
C. Indemnity contract 
D. Insurance 

2. Agent should be very careful while filling the proposal and if has doubt about the client's intentions. He should :
A. Issue the written warning to the proposer 
B. Bring this to the notice of IRDA 
C. Report to Ombudsman 
D. Report to insurer 

3. Mr Sudhakar wants to invest in post office term deposit for tax benefits. What is the minimum duration for which he needs to invest this money?
A. 1 year 
B. 2 years 
C. 5 years 
D. 10 years 

4. At what time of the proposal should the agent declare his commissions as per the Code of Conduct?
A. At the time of filing the proposal 
B. While recommending the product 
C. Whenever asked by the client 
D. When the client has accepted the recommendation 

5. 1t has been observed that, most of the policies issued by M/S XYZ Insurance Company have been cancelled by the insured during the free look period. What may be the most likely reason so far ethics is concerned?
A. The company has no ethics 
B. The company has only internal ethics but not external 
C. The company has external ethics but not internal 
D. The company has both the ethics 

6. In money back Plan the nomination can be done:
A. Outset stage only 
B. Policy anniversary only 
C. Outset and policy anniversary only 
D. Any time 

7. In the sales illustration, the reduction of the actual benefit amount is mainly due to deduction of :
A. Commission 
B. Charges 
C. Non guaranteed benefits 
D. Reversionary Bonus 

8. Which body prescribes the code of conduct of Agents?
A. Insurance Instime of Indi 
B. Insurance Regulatory and Development Authority 
C. Indian Institute of Research & Management 
D. National Insurance Academy 

9. The proposer can withdraw from the contract, if he disagrees with the terms and conditions of the policy, within free look-in period of :
A. 15 days from the date of receipt of the policy document 
B. 20 days from the date of receipt of the policy document 
C. 25 days from the date of receipt of the policy document 
D. 30 days from the date of receipt of the policy document 

10. The main function of the IRDA's Grievance Redressal Call Center is to educate the policyholders regarding :
A. Consumer forum 
B. Insurance ombudsman 
C. General Insurance Council 
D. Insurance Institute of India 

11. In a pension plan illustration what is the part which shows the benefit for an annuitant
A. Insurance coverage 
B. Annuity part 
C. Guaianteed and non guaranteed part 
D. Vesting age 

12. The guaranteed and nonguaranteed values to be depicted in the Benefit illustration are in accordance with regulation issued by :
A. Insurance Regulatory Devetopment Authority 
B. Life Insurance Council 
C. IIRM 
D. Insurance Institute of India 

13. An insurance broker :
A. Represents the buyer and is remunerated by the company 
B. Represents the company and is remunerated by the buyer 
C. Represents the company and the buyer 
D. Remunerated by both the company and the buyer 

14. Thc chanccs of adverse selection may be greater with the following method of underwriting :
A. financial 
B. medical 
C. Non medical 
D. Accepting proposal with lien 

15. 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 

16. What are the financial planning need for a 38 year old lady with 2 year young daughter, whose husband has passed away leaving enough insurance cover?
A. Estate planning 
B. Investment management 
C. Loan protection 
D. Pension planning 

17. Sahil & Vijay buy an insurance plan for same sum assured, but only Vijay was called for medical examination.Why?
A. Vijay is younger than Sahil 
B. Vijay is older than Sahil 
C. Sahil has Kids & Vijay has no kids 
D. Sahil is self employed 

18. In a policy document of endowment contract what should be the key content?
A. Distinction between Guaranteed and Nonguaranteed benefits 
B. Details of premium paying terms 
C. Expected returns from funds 
D. Amount of Insurance cover 

19. What is the ceiling of tax exemption under section 80C of Income Tax Act?
A. 1 lakh 
B. 1.5 lakhs 
C. 2 lakhs 
D. 3 lakhs 

20. The consequences of these risks which will affect specific individuals or local communities in nature is cJled as
A. Pure risk 
B. Financial risk 
C. Particular risk 
D. Physical hazard 

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
Fitter Books

Rs378

Rs459

Rs187

Rs136

Rs299

Rs266

Rs180 

Rs201

Rs39

Rs323

Rs360

Rs260

Rs288

Rs270

Rs323

Rs215

Rs243

Rs160

Rs225

Rs387

Rs315

Rs359

Rs288

Rs270
PLUS Rs100 Delivery Charges
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Global Book Shop
B-1/104 Paschim Vihar, New Delhi 110063
Tel: 01142316457, 9810570740 facebook.com/doctorkc