For each of the following multiple choice questions, choose the most appropriate answer :
1. In an endowment policy, bonus becomes payable because of
A. Indexation
B. Inflation
C. Loading
D. Increase in Premium
2. Which body prescribes the code of conduct of Agents?
A. Insurance Instime of Indi
B. Insurance Regulatory and Development Authority
C. Indian Institute of Research & Management
D. National Insurance Academy
3. When the sales target of the agent is less what will be its effect on churning
A. Less churning
B. High Churning
C. No Churning
D. Less sales
4. The consequences of these risks which will affect specific individuals or local communities in nature is cJled as
A. Pure risk
B. Financial risk
C. Particular risk
D. Physical hazard
5. Ashok is a young married man with beautiful young wife and two kids. which types of insurance projects should he select?
A. Contingency funding
B. Health insurance
C. Housing Loan insurance
D. Retirement benefit insurance
6. An insurance company has issued policy document to one of its policy holder. In the policy document the company mentioned the payment of premium by the insured, payment of Sby the insurance company on the happening of insured event etwhich part of the policy document is most likely to contain such matter?
A. Preamble
B. Schedule
C. Terms and conditions
D. Operative clause
7. The clients of re-insurers are
A. Insurance companies
B. Banks
C. Asset Management Companies
D. Individuals
8. If the persistency of an Insurer increases from 83% to 86% then the key feature behind it would be:
A. Policy is sold to wealthy customers
B. The number of surrender and lapse of policies is less
C. Agent is earning higher commission
D. Company is earning higher profits
9. Insurance Act 1938 does not deal with :
A. Amalgamation and transfer of Insurance business
B. Appointment of staff
C. Mutual funds
D. Power of investigation and inspection by the regulatory authority
10. During financial planning session if the agent finds out the following needs, which one should be given the top priority? Needs: Income protection, Childs education, marriage and emergency funds
A. Childs education
B. Marriage
C. Emergency fund
D. Income protection
11. An investor has endowment policy with 30 years policy term. He has paid for eight years. The sum assured is 8,00,000/- and accumulated bonus 60,000/- What is the paid up value?
A. 2,13,333
B. 2,29,333
C. 2,73,333
D. 2,93,333
12. What are the financial planning need for a 38 year old lady with 2 year young daughter, whose husband has passed away leaving enough insurance cover?
A. Estate planning
B. Investment management
C. Loan protection
D. Pension planning
13. Naveen is addressing his income needs by investing directly in corporate bonds. In what form will he receive this income?
A. Annuity instalments
B. Dividend payments
C. Interest payments
D. Rental payments
14. The process of de-tariffication is referred to as :
A. Free hand for risk assessment
B. No mortality tables
C. Freeing the pricing of insurance
D. Imposing price of insurance
15. The guaranteed and nonguaranteed values to be depicted in the Benefit illustration are in accordance with regulation issued by :
A. Insurance Regulatory Devetopment Authority
B. Life Insurance Council
C. IIRM
D. Insurance Institute of India
16. What is the need of doing the Fact Finding Analysis of a Customer?
A. To ensure and increase Sale
B. Correct Need Analysis
C. To follow IRDA Guidelines
D. To relate the Monetary benefits
17. If a person is responsible to determine and finalize the rates of various insurance products for an insurer, which body/society is he a member of :
A. Institute of Actuaries in India
B. Insurance Institute of India
C. IRDA
D. Life Insurance Council
18. For an insurance agent, a low persistency ratio means
A. Loss of renewal commission
B. High client satisfaction
C. Higher reputation
D. More earning of First Year Commission
19. Ashu is an illiterate person and his proposal form was filled by NishThen what is the addional requirement taken in addition to the documents?
A. The policy needs to be advertised in newspaper
B. Nishu has to sign an indemnity bond
C. Thumimpression of Ashu has to be taken
D. Ashu needs to be to be medically examined
20. According to the Insurer, the Authenticity of an Assignment depends upon:
A. The type of policy
B. separate deed
C. The type of Loan
D. the receiving of notice
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 |
|
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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