For each of the following multiple choice questions, choose the most appropriate answer :
1. If job loss is a risk, one should invest in debt instruments like bank deposits and :
A. Government securities
B. Debt mutual funds
C. National Saving Certificates
D. Corporate bonds
2. What is the purpose of investing money in debt mutual fund?
A. Easv access
B. Fixed income
C. Tax benefits
D. Liquidity
3. Shyam and his wife are being advised to have an estate planning after their fact finding. In what stage of life cycle stage they may be :
A. Young Married
B. Young Married with children
C. Married with older children
D. Retired
4. 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
5. In case of any unethical practices in sales followed by an insurance company the clea-cut impact will be shown in :
A. Claims ratio
B. TAT on complaints
C. Persistency ratio
D. Market share
6. In the context of financial planning, how is the difference between real needs and perceived needs best described?
A. Real needs are financial needs and perceived needs are non-financial needs
B. Real needs are actual needs and perceived needs are based upon client's thoughts and desires
C. Real needs are identified by the insurance agent and perceived needs are identified by the client
D. Real needs are needs which satisfy an objective and perceived needs are needs which do not satisfy an objective
7. Interim policy loading is added for:
A. Administrative expense
B. Mortality
C. Bonus
D. Morbidity
8. After maturity In a Unit Linked Life Insurance Policy, customer does not receive maturity value in a lump sum. What is the possibility of receiving it in installments, if it is not a annuity plan :
A. He has switched his fund
B. He has opted for Settlement option
C. He has redirected his past premiums
D. Policy was lapsed at the time of maturity
9. In term insurance policy if there is loading (due to increase in premium by the underwriter), it clearly depicts
A. Morbidity risk
B. Mortality risk
C. High Age
D. High sum assured
10. Under the IRDA guidelines for Claim settlement, any queries or additional documents can be demanded from the claimant within:
A. 5 days from the receipt of claim
B. 10 days from the receipt of claim
C. 15 days from the receipt of claim
D. 20 days from the receipt of claim
11. Available Loan amount under life Insurance policy is generally based on
A. Total paid premium
B. Sum Assured
C. Surrender value
D. Paid up value
12. While displaying the assumed growth in the future years, the rates of returns need to be per the guidelines of :
A. Insurance Regulatory and Develoritent Authority
B. Life Insurance Council
C. Insurance Institute of India
D. Royal Bank of India
13. Which is correct in relation to Insurance Broker?
A. Insurance brokerr represents insurance buyer and is remunerated by the insurance company
B. Insurance broker represents insurance buyer and is remunerated by the Client
C. Both of these
D. Neither of these
14. 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
15. 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
16. Apart from conducting a comprehensive fact-find, the other main action that an insurance agent can take at outset to minimise the risk of subsequently receiving a customer complaint is to
A. ask for referrals
B. offer commission rebates
C. provide detailed disclosures
D. register with the Insurance Ombudsman
17. If Rajesh earns 5% net return on fixed deposit with 8% interest, where did remaining 3% vanish?
A. Decrease in tax rates
B. Lockins
C. Penalties
D. Inflation
18. According to IRDA guidelines, in what maximum time does an insurance company have to complete its investigation of a claim?
A. 1 month
B. 2 months
C. 3 months
D. 6 months
19. 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%
20. Whuch institute is concerned with insurance training, education, research and publication, and risk management :
A. IRDA
B. National Insurance Academy (NIA)
C. Insurance Institute of India
D. Life Insurance Corporation
Electrician Books
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Rs270 |
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Rs315 |
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Rs270 |
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Rs270 |
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Rs215 |
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Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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