For each of the following multiple choice questions, choose the most appropriate answer :
1. customer receives automatic payments twice in gap of 5 years in his policy and after 1 year, on his death his nominee receives entire amount again. Which policy do you think he has?
A. Endownient
B. Money Back
C. Term Plan
D. Annuity
2. 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
3. An agent does fact finding for a married couple with 9 year old chilThe agent identifies that they need Life insurance Protection, Child Insurance, Pension plan and health Insurance. Which of them should be given least preference?
A. Child Plan
B. Pension Plan
C. Health plan
D. Life insurance
4. The advanitage of buying policy from an insurance brokers is :
A. More regulated market
B. Policyholder interest is taken care
C. More types ofplans to choose from
D. They offer plan that best suits the customer
5. The existence of insurable interest should be there in life insurance policy
A. At the outset of the policy only
B. At the time of renewal of the policy
C. At the outset of the policy and at the time of claim
D. All times when the policy is in force
6. A person wants to lead peaceful golden years, which plan should he opt for ?
A. Term
B. Endowment
C. Annuity
D. Money back
7. 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
8. Arun started a 20-year term insurance policy. Once established, when, if at all, is the insurer next entitled to ask him for proof of continuing good health?
A. At no point
B. After the end of the first 12 months
C. At the point when he changes occupation or retires
D. When a lapsed policy is revived
9. Govt. of India has full control over IRDUltimately which of the following matters/issues of IRDA are controlled by Govt. of India on an ongoing basis :
A. Formation of IRDA
B. Staffing pattern of IRDA
C. Policy matters
D. IRDA is an autonomous body. Govt of India has no control over IRDA
10. In case of insurance, consideration refers to:
A. Premium paid
B. Insurance acceptance
C. Age
D. Tenure of policy
11. An individual is said to be competent to enter into contract if he is
A. 18 year old
B. 21 year old
C. 23 year old
D. 25 year old
12. 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
13. If we hold 100 units in gold ETF, how much grams we have in physical :
A. 5 or 10 grams
B. 10 or 15 grams
C. 15 or 25 grams
D. 50 or 100 grams
14. Ration Card and Baptism certificate are considered as:
A. Standard Age Proof
B. Non Standard Age proof
C. Standard and non standard age proof respectively
D. Nonstandard and standard age proof respectively
15. For the agents to carry out their role in a professional manner, they must adhere to tile Code of Conduct specified by which authority?
A. Life Insurance Council
B. Ornbudsman
C. National Insurance Academy
D. IRDA
16. In life insurance policy it is later found that the person doesn't have insurable interest then the'contract is
A. Expired
B. Reviewed
C. Void
D. Valid
17. Manoj & Rakesh both buy an endowment plan for the same quarterly premium and same SBoth surrender the plan after the same number of years, but Manoj gets higher Surrender Value as compared to Rakesh. This is because
A. Rakesh bought the policy for longer term
B. Manoj bought the policy for longer term
C. Manoj disrlosed all material facts
D. It is calculation error
18. If the annual premium for a plan is 32000 and a frequency loading of 4% is added in a premium, what is the amount that needs to be paid?
A. 8000
B. 8320
C. 9456
D. 9240
19. 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
20. Ajay is married with 2 kids 2 years and 4 years. After fact finding it is found that Ajay has few needs like Income Protection, Child Education, Health & pension etfor which he has no cover so far. As an agent what you will suggest as his lowest priority?
A. Health Plan
B. Child Education Plan
C. Life Insurance Plan
D. Pension Plan
Electrician Books
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