For each of the following multiple choice questions, choose the most appropriate answer :
1. After doing the need analysis of the client, the agent advised the client to opt for TROP product. But the client refuseAccording to ethical business practices what should the agent do?
A. Enquire about the refusal from the client
B. Suggest an alternative plan
C. Pass on to a senior
D. Pass on to the other agent
2. Ram and Shyam, both have taken life policy from same company through same agent for same perioDuring ttie process of disclosure, the agent has revealed that he obtains more commission from Ram. What may be the probable reason for the same?
A. Shyani has taken more number of poticies that is why he has been given concession
B. Ram's policy is having rider
C. Ram is oldcr than Shyam
D. Ram is having wife and children, where as Shyam is unmarried
3. The ombudsman's powers are restricted to insurance contracts of value not exceeding?
A. 50 lac
B. 30 lac
C. 25 lac
D. 20 lac
4. Net premium is equal to
A. Premium plus interest earning
B. Risk premium plus interest earning
C. Prerniurn minus intercst'caming
D. Risk premium minus interest earning
5. Which of the following is one of the financial goals of an individual?
A. Children's education and marriage
B. Investment in share market
C. Planning car
D. Giving gifts to relatives
6. Sohan and Amrit are 30 years old unmarried persons. Sohan is having dependent mother whereas Amit has no dependent. Which type of policy most likely to be chosen by Sohan?
A. Child Education policy
B. Life Insurance policy
C. Liability insurance policy
D. Retirernent policy
7. In case of a self employed person, it is important to know the work of the person because:
A. It helps in classifying the risk
B. It helps in determining moral hazard
C. It helps to determine approximate timing of death
D. It helps in determining chances of disability
8. 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
9. In term of risk, mortality tables are used by Life Insurance companies in order to help them quantify the
A. Moral Hazard of an individual risk
B. P)ysical Hazard of an individual risk
C. Probability component of risk
D. Severity component of risk
10. 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
11. Ankur wants to plan for his daughter's education. As a financial advisor what rate would you consider to plan for her education in a later date?
A. Bonus
B. Inflation
C. Interest
D. Investment
12. When can an insurance company give more than 35% first year commission?
A. When the Insurance Company is in the first 15 years of operation
B. If the agent has worked with the company for more than 10 years
C. If the agent is performing exceptionally well
D. When the insurance company is in the first 10 years of operation
13. A person receives Discounted Claim in context to :
A. profit in policy
B. Duration of policy
C. Timing of maturity
D. Interest
14. When should an agent disclose the commission which he will earn from the product which he is going to sell :
A. On demand from customer
B. After the fact finding process
C. After quantifying the need
D. After the product is recommended to the client
15. If a person gets involved in a dangerous sport activity, before the issuance of policy, which statement is true in terms of Pcril & Hazard?
A. Peril will increase the risk of Physical Hazard
B. Physical hazard will increase the risk of Peril
C. Peril will reduce the risk of Physical Hazard
D. Physical Hazard will reduce the risk of Peril
16. How long is the free look-in period under a term insurance policy from the date of receipt of the policy document?
A. 5 days
B. 10 days
C. 15 days
D. 20 days
17. If both mother and father of the proposer have died before the age of 30 due to heart diseases, it can be a case of:
A. Moral hazard
B. Physical hazard
C. Financial hazard
D. Occupational hazard
18. In which of the following bank deposits does the bank pay the principal and interest to the individual at the end of the term?
A. Saving deposits
B. Traditional deposits
C. Cumulative deposits
D. In none of the above
19. In case of absolute assignment, the payment is made to
A. Insured
B. Assignee
C. Nominee
D. Appointee
20. A person aged 28 yrs is looking for Term plan, Health plan, Endowment plan and Child plan. Which plan is the most Important for him?
A. Health Plan
B. Endowment Plan
C. Child Plan
D. Term Plan
Electrician Books
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Rs270 |
Rs278 |
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Rs270 |
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Rs101 |
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Rs387 |
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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