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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. 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 

2. A claim under a term insurance policy is submitted by an individual who has substantially understated his age. As an alternative to paying out the full claim the insurer is most likely to take what action?
A. Deduct the underpaid premiums from the sum insured 
B. Make the policy paid up 
C. Pay out the surrender value 
D. Reject the claim on the grounds of misrepresentation 

3. During a fact finding process the need analyzed were income replacement and children's education. But the customer insists on only a child plan for the time being and asks the agent to give him a child plan. The agent should :
A. Do the fact finding exercise again 
B. Insist with the client to take a term plan 
C. Give a child plan and revisit the client on a later date 
D. Give the lead to another agent 

4. The condition that sum assured is payable on regular premium payment is reflected on which part of the pclicy document?
A. Preamble 
B. Terms and conditions 
C. Operative clause 
D. Policy information statement 

5. 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 

6. Kabir wants to invest in shares and golWhat benefits would he get?
A. Capital appreciation 
B. Interest earning 
C. Dividend earning 
D. ncome and appreciation both 

7. Sahil has taken insurance policy of 1 crore SUnderwriter will ask for moral hazard report frorn:
A. Sahil's employer 
B. Sahil's employee 
C. Sahil's Insurer employee 
D. Sahil's agent 

8. 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 

9. Indisputability clause can be enforced by the insurance company during the
A. First five years of policy 
B. First Two years of policy 
C. Claim 
D. Inception of the policy 

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

11. 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 

12. What is the main objective of taking the life insurance policy?
A. Tax benefit 
B. Savings 
C. Investment 
D. Protection 

13. 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 

14. Ajay wants to take life insurance policy for his child, out of Certificate of Baptism and Ration card, which will be accepted as standard age proof?
A. Certificate of Baptism and Ration card both are standard age proofs 
B. Certificate of Baptism is non-standard age proof and Ration card is standard age proof 
C. Certificate of Baptism is standard age proof and Ration card is non:standard age proof 
D. Both are non-standard age proofs 

15. Pooling of risk in insurance means
A. The premium collected & deposited in pool 
B. All similar risks are pooled together 
C. Premium is pool to make claims 
D. Contribution of insurance company 

16. If a license has been cancelled and agent disqualified by a designated authority in 2010 then in which year can the same person apply for fresh license?
A. 2013 
B. 2015 
C. 2017 
D. 2020 

17. After submission of all documents and papers in case of death claim, the proper the proper identification of the payee cannot be done due to some reason. After how many days the bank intercst is payable to the payee?
A. 15 
B. 10 
C. 30 
D. 180 

18. A life insured had died one day before the expiry of grace period without paying the due premium. If insurance company has to pay claim at all, what should be the Claim amount?
A. Sum Assured 
B. Surn Assured + Bonuses (if any) 
C. Refund all the premiums paid till date 
D. Sum Assured + Bonuses - premium due 

19. 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 

20. For the customer whose claim has been refused by the company, the three places where the customer may follow up are - Ornbudsman, IRDA Customer Grievance Cell, and :
A. Consumer forum 
B. SEBI 
C. Life Insurance Council 
D. District Congress Committee 

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