For each of the following multiple choice questions, choose the most appropriate answer :
1. Attestation on the policy requires signature of
A. Agent
B. Insurance company's authorized official
C. Nominee
D. Appointee
2. 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
3. Where annually increasing flexible premiums operate under a life insurance policy, what rate of increasc will generally apply?
A. 2.5%
B. 3.0%
C. 5.0 %
D. 7.5%
4. The regulations issued by the IRDA, require that the decision on the proposal must be conveyed to the propcser within
A. 15 days of receiving the proposal
B. 20 days of receiving the proposal
C. 25 days of receiving the proposal
D. 30 days of receiving the proposal
5. During the process of applying for life insurance, the customer discloses confidentially to the insurance agent that he had a mild stroke four months ago, however this was NOT mentioned on the application form. In accordance with the Insurance Regulatory and Development Authority's Code of Conduct, how should the insurance agent deal with this information?
A. Ask the policyholder's doctor to send details to the insurer
B. Notify the insurer of this matter
C. Refuse to act for the customer in this case
D. Respect this confidentiality by not discussing it with anyone else
6. Shailesh has an endowmwnt policy with 30 years policy term. He has paid premium for 8 years, The sum assured is Rs.8.00,000/- and accumulated bonus Rs.60,000/-. What is thepaid up value if bonus accumulated and if not bonus accumulated?
A. 2,13,333 & 2,73,333
B. 2,13,333 & 2,29,333
C. 2,29,333 & 2,73,333
D. 2,29,333 & 2,93,333
7. Rajat and Ramesh buy a health plan witli same premium but Rajat gets more tax advantage. The reason could be :
A. Rajat is more than 65 years of age and Ramesh is less than 65
B. RaJat is an NRI and Ramesh is not
C. Rajat has better healtli than Ramesh
D. Ramesh is richer than Rajat
8. Nikhil is looking for tax-efficient savings methods for his disposable income. He is considering an equity-linked savings scheme, national savings certificates and an endowment insurance policy. Premiums for which of these investments are allowed to be deducted from his taxable income?
A. The national savings certificates only
B. The equity-linked savings scheme and the national savings certificates only
C. The national savings certificates and the endowment insurance policy only
D. The equity-linked savings scheme, the national savings certificates and the endowment insurance policy
9. A policy document for a money-back policy includes the statement ˜the proposal and declaration signed by the proposer form the basis of the contract'. In which main section of the policy document will this normally appear?
A. Attestation
B. Operative clause
C. Preamble
D. Terms and conditions
10. 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
11. A widow apphes for a clairn that gets rejecteApart from approaching the ornbudsman she can approach :
A. IRDA Authorized Lawyer
B. Consumer forum
C. General Insurance Council
D. Reinsurer
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. As per IRDA Regulations, in how many days an insurer has to settle the claim?
A. 15
B. 30
C. 45
D. 60
14. Legislation gives which body the power to specify a code of conduct for surveyors and loss assessors?
A. Institute of Insurance and Risk Management
B. Insurance Regulatory and Development Authority
C. Life Insurance Council
D. Securities and Exchange Board of India
15. 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%
16. Suresh Sharmhas paid 8 yearly premiums for 30 year endowment plan having sum assured of 800000. The bonus accrued in the policy is 60000. Calculate the paid value of the policy
A. 17235
B. 272153
C. 273435
D. 273333
17. When can an insurance company give more than 35% first year commission?
A. When the Insurance Company is in the first 15 years of operation
B. If the agent has worked with the company for more than 10 years
C. If the agent is performing exceptionally well
D. When the insurance company is in the first 10 years of operation
18. Sohan and Amrit are 30 years old unmarried persons. Sohan is having dependent mother whereas Amit has no dependent. Which type of policy most likely to be chosen by Sohan?
A. Child Education policy
B. Life Insurance policy
C. Liability insurance policy
D. Retirernent policy
19. If a policyholder complains to the ombudsman that the insurer is not doing justice to him, in how many days ombudsman would give his recommendation?
A. 15 days
B. month
C. 3 months
D. 6 months
20. In case of lien:
A. If the insured dies within the lien period, insurance company will still pay the full sum insured
B. The lien should diminish by an equal amount over specific period of time
C. If the term of the policy is multiple of three, then the lien operable is two third of the term of the policy
D. Conditions under which lien can be applied remain same for all insurance companies
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 |
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