For each of the following multiple choice questions, choose the most appropriate answer :
1. 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
2. Mr Purushotarn has joined as Director of an Insurance Company. Now as per the IRDA act he is not allowed to work as :
A. Agent
B. Actuary
C. Underwriter
D. None of these
3. 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
4. Kanial is willing to pay 60,000/- per annum for his ULIP policy. What should be the SA if he wants to avail the tax benefits?
A. 1 lacs
B. 3 lacs
C. 2 lacs
D. 1.5 lacs
5. If the client does not wish to proceed with the recommendations right at the moment, the agent should :
A. Insist on taking the product right away
B. Should ask for the reason for not going with the recommendation
C. Should ask for a future date from the client
D. Should review once again
6. The sole focus during a client's fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into?
A. Young married
B. Young married with children
C. Pre-retirement
D. Retirement
7. 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
8. 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
9. An award made by the Insurance Ombudsman will only be binding on the insurer if the
A. complainant accepts this decision
B. Consumer Forum is involved in the case
C. insurer signs a disclaimer
D. value of the award is less than 2 lakhs
10. In convertible policy; when can policy holder free look his policy?
A. After receiving First Premium Receipt
B. Any time during the term of the policy
C. After receiving the Policy Document
D. At the time of First Policy anniversary
11. 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
12. 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
13. What should an agent do to understand the state of mind of the client with respect to his investments in saving products?
A. Fact finding
B. Consulting the client's parents
C. C Consulting the family of the client
D. Reviewing his existing investments
14. Central Government may supercede IRDA ::
A. through a motion in parliament
B. by issuing a notification
C. by ammeding IRDA Act
D. by any of these
15. Rajan takes a family floater health insurance of Rs 3 lacs from Insurance Company X and has health insurance of Rs 2 lacs from another Insurance Company Y from his employer's side. He suffers from heart attack and has a total bill of Rs 4 lacs. He can claim from :
A. Company X Only
B. Company Y Only
C. Both the companys to the extent of Rs 4 Lacs
D. Both the companys to the extent of Rs 5 Lacs
16. Akshat and Nitin both have invested in the same pension plan, with same Premium but at end, the Corpus Of Akshat is more than Nitin. The reason is :
A. Akshat is younger than Nitin
B. Akshat has no health problem
C. Akshat started investing earlier
D. Nitin started investing earlier
17. What will insuranc companies do in case heavy loss incurred to them beyond their limit?
A. Reinsurance
B. Bancassurance
C. Pay less Sum Assured
D. Reject the claim
18. In case of life insurance, the insurable interest should exist
A. At the time of taking the policy
B. At the time of claim
C. At the time policy matures
D. At the time of taking the policy & claim
19. Harish wants to buy an insurance plan for his brother Rakesh, the factor which shows the principle of Insurable interest, makes it possible, if:
A. Raksh owes money to Harish
B. Harish will be adversely affected financially due to death of Rakesh
C. Rakesh is older than Harish
D. Rakesh signed financial disclaimer about his liabilities
20. For a household insurance policy, insurable interest need only exist at outset and at what other point?
A. The date the cancellation period expires
B. The date a claim occurs
C. The date the policy document is received
D. The termination date
Electrician Books
Rs405 |
Rs405 |
Rs270 |
Rs278 |
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Rs270 |
Rs279 |
Rs315 |
Rs315 |
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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 |
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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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