For each of the following multiple choice questions, choose the most appropriate answer :
1. Ombudsnian's powers are restricted to insurance contracts of value not exceeding?
A. 100 lacs
B. 50 lacs
C. 20 lacs
D. 10 lacs
2. In which of the following plans remaining part of the Sum Assured is paid on maturity?
A. Endowment plan
B. Convertible plan
C. Money back plan
D. Term Plan
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 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
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. An investor holds a wide range of shares. If the Reserve Bank of India announces a series of significant interest rate increases, the prices of these shares are most likely to
A. become volatile
B. decrease
C. increase
D. stagnate
7. What does life insurance company save on while selling products exclusively online?
A. Commission
B. Income Tax
C. Marketing Cost
D. Reinsurance premium
8. 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
9. Mr Kunal used to participate in car race. While taking up the Insurance policy he disclosed this information. What kind of hazard does it refers to?
A. Physical hazard
B. Fraudulent representation
C. Moral hazard
D. Peril
10. 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
11. Who gives grant to IRDA?
A. Life Insurance of India
B. Central government
C. Insurance Institute of India
D. All of these
12. Job of a nodal officer of insurance company involves :
A. Addressing customer grievances
B. Deciding, the premium to be charged
C. Imparting training
D. Looking after sales
13. An indemnity bond was signed in a policy when the claim was paiThis indicates that the policy was :
A. Lost
B. Paid up
C. Lapsed
D. Surrendered
14. If Insurable interest does not exists at the time of inception of the life insurance policy then, life insurance contract is
A. Voidable
B. Invalid
C. Valid
D. Null & voidable
15. If contract is signed by 15 years old boy, this contract will be
A. Null and void
B. Invalid
C. Voidable
D. Valid
16. The policy is of term 30 years. For how many years maximum lien can be applied?
A. 5
B. 10
C. 15
D. 20
17. Shailesh and Ankit want to retire in the age of 65 yrs. But shailesh pays more monthly premium thau ankit. Why?
A. Shailesh is older than ankit
B. Ankit is older than Shailesh
C. Shailesh earns more than Ankit
D. Ankit earns more than Shailesh
18. Generally insurance companies do not hold the premium in case of fraud or misrepresentation. However, due to which of the following circumstanceses the insurer can retain the premium of the policy holder?
A. Fraudulent claim
B. Indisputability clause
C. Redressal procedure
D. Pending decision from Ombudsman
19. From Insurance Company's point of view, most important aspect in a Term Insurance policy lies with :
A. Good ethics
B. Fact findings
C. The proposal
D. Underwriting process
20. Rakesh wants to buy a policy primarily for Risk Cover but at the end of the term, he wants to get at least some return. Under which policy he will get these benefits?
A. Endowment plan
B. ROP plan
C. Whole life plan
D. ULIP
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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