For each of the following multiple choice questions, choose the most appropriate answer :
1. 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
2. If client wants to compare between all financial products, then the best person he can approach is
A. Individual agent
B. Corporate agent
C. Bank
D. Broker
3. In the sales illustration, the reduction of the actual benefit amount is mainly due to deduction of :
A. Commission
B. Charges
C. Non guaranteed benefits
D. Reversionary Bonus
4. 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
5. Based on which criteria the qualification of agent is determined?
A. Address of the agent
B. Domicile status
C. City/town of appointment
D. Caste
6. Raunak wants to purchase the cheapest plan which can provide financial security to his dependents. Which plan would you offer?
A. Term Plan
B. Term Plan with return of premium
C. Pure Endowment plan
D. Unit Linked Plan
7. Why does any insurance company require an age proof from the customer?
A. It is a mandatory requirement
B. To evaluate the risk
C. To Improve persistency
D. To avoid adverse selection
8. What should an agent do in order to understand the mental state of client in respect to his investments, in saving products :
A. Fact finding
B. B Consulting the client's parents
C. Consulting the family of the client
D. Reviewing his existing investments
9. Loan can be taken against life insurance policies. The loan can be specific percentage of which value?
A. Paid up value
B. Surrender value
C. Total premiums paid
D. Sum assured
10. Legislation gives which body the power to specify a code of conduct for surveyors and loss assessors?
A. Institute of Insurance and Risk Management
B. Insurance Regulatory and Development Authority
C. Life Insurance Council
D. Securities and Exchange Board of India
11. 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
12. The general need for a pension policy results from the existence of what key problem?
A. Anticipated fall in income
B. Lack of employment opportunities
C. Likely deterioration in health
D. Uncertainty over investment performance
13. The main purpose of including commission details in the documentation to clients is to increase
A. competitiveness
B. efficiency
C. flexibility
D. transparency
14. 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
15. Controller of Insurance was dissolved and its activities taken over by :
A. SEBI
B. IRDA
C. RBI
D. Central Government
16. Mr Anwar has taken a Term Insurance Policy from Insurance Company. A term insurance is basically what kind of contract?
A. Indemnity Contract
B. Insurance Contract
C. Both these
D. Neither of these
17. Which need of the customer should be on the top priority?
A. Protection Needs
B. Investment
C. Power of Compounding
D. Premium and SA
18. An investor has taken G-securities by paying lump sum investment. Apart from periodical interest, what would he get at the end of the term?
A. Discounted value with interest
B. Principal amount
C. Discounted value with persistency bonus
D. None of these
19. 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
20. Prashant buys an Endowment Plan with a sum assured of Rs100,000 and wants to make use of tax benefit under the policy for whole SHow much premium would help him avail this benefit?
A. Less than 10,000
B. More than 10,000
C. Less than 20,000
D. More than 20,000
Electrician Books
Rs405 |
Rs405 |
Rs270 |
Rs278 |
|
Rs270 |
Rs279 |
Rs315 |
Rs315 |
|
Rs216 |
Rs225 |
Rs180 |
Rs180 |
|
Rs315 |
Rs279 |
Rs342 |
Rs279 |
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Rs505 |
Rs536 |
Rs217 |
Rs250 |
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Rs258 |
Rs299 |
Rs88 |
Rs101 |
|
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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