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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. What key impact will the agent have in low persistency
A. Increase more business 
B. Increase in the agents earning 
C. Will improve reputation 
D. Will reduce his commission 

2. 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 

3. The changes in healthcare costs over recent years has had what general impact on healthcare insurance?
A. A fall in average premium levels 
B. A reduction in underwriting requirements 
C. A rise in the need for cover 
D. A strengthening of the insurable interest rules 

4. In order to fulfil the ˜know your customer' procedures, at what stage in the financial planning process is the insurance agent most likely to request a copy of the customer's photograph?
A. At the end of the fact-find meeting 
B. At the end of the presentation meeting 
C. As soon as the application is accepted by the insurer 
D. As soon as the insurer is ready to issue the policy document 

5. A policyholder asked his insurance agent for guidance on submitting a claim for the maturity benefit under his life insurance policy. Due to pressure of work, the agent declined to assist. Consequently, this action is deemed to be a breach of the
A. General Insurance Council's guidelines 
B. Insurance Regulatory and Development Authority's Code of Conduct 
C. Insurance Ombudsman's protocols 
D. Insurance Brokers Association of India's membership rules 

6. The authority of COPA is limited to what amount at the district level?
A. 10 lac 
B. 20 lac 
C. 50 lac 
D. 100 lac 

7. In case of insurance, consideration refers to:
A. Premium paid 
B. Insurance acceptance 
C. Age 
D. Tenure of policy 

8. 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 

9. Which body has created call center for logging complaint
A. Life Insurance Council 
B. IRDA 
C. Insurance Association 
D. Insurance Institute of India 

10. Mohit has two kids, one of 6 years and other 8 years. He is the earning member and not having life cover. Before advising him to take health policy, what whould you advise him?
A. Health policy for child 
B. Health policy for wife 
C. Life insurance policy for wife 
D. Life Insurance policy for himself 

11. Insurance companies are required to honour the awards passed by the Insurance ombudsman within how many days?
A. 10 days 
B. 15 days 
C. 20 days 
D. 25 days 

12. An indemnity bond was signed in policy when the claim was paiThis indicates that the policy was
A. lost 
B. paid u 
C. lapse 
D. surrendered 

13. If an insurance policy is Nsued wi& a An, it will be mentioned in :
A. Proviso 
B. Scedule 
C. Terms and conditions 
D. Endorsement 

14. For an insurance agent, a low persistency ratio means
A. Loss of renewal commission 
B. High client satisfaction 
C. Higher reputation 
D. More earning of First Year Commission 

15. 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 

16. An agent does fact finding for a married couple with 9 year old chilThe agent identifies that they need Life insurance Protection, Child Insurance, Pension plan and health Insurance. Which of them should be given least preference?
A. Child Plan 
B. Pension Plan 
C. Health plan 
D. Life insurance 

17. In case of many nominees, how much percentage should be defined amongst the nominees for the claims?
A. 10 % for each nominee 
B. Equal sharing will be done 
C. No Specific limit defined 
D. Elder member of the family will decide about sharing 

18. What are the benefits to the policyholder under Surgical. care rider?
A. Number of days admitted in hospital & surgery expenses in full 
B. Number of days admitted in hospital & surgery expenses in partial 
C. Treatment cost of surgery subject to terms & conditions 
D. Lump sum amount what he has incurred 

19. Nishit is an insurance agent. He was in process of selling Unit Linked Insurance Plan to his customer. The Customer has asked one technical question to him for which he did NOT know the answer, According to the best practices, what should Nishit do :
A. Decline to answer 
B. Ask customer to refer product booklet 
C. Refer matter to Supervisor 
D. Ask customer to give question in writing 

20. If 15 year old child enters into contract, the contract is said to be:
A. Voidable 
B. Null & Void 
C. Nil 
D. Indisputability Clause 

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
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