For each of the following multiple choice questions, choose the most appropriate answer :
1. The main purpose of including commission details in the documentation to clients is to increase
A. competitiveness
B. efficiency
C. flexibility
D. transparency
2. Detarification is a proccss by which pricing of insurance :
A. Rises
B. Falls
C. Reaches a level as per industry trends
D. Insurers can price their products on their self past experience
3. What is the key differentiator between the Recurring Deposit & Cumulative Deposit taken by a customcr from a bank?
A. Amount invested
B. Taxation
C. Time period
D. Interest
4. 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
5. As per Prevention of Money Laundering Act (PMLA) 2002, what is the risk profile of a client who is a nonresident indian (NRI)?
A. Low risk
B. Moderate risk
C. No risk
D. High risk
6. If an insurance policy is Nsued wi& a An, it will be mentioned in :
A. Proviso
B. Scedule
C. Terms and conditions
D. Endorsement
7. The time period within which as per the IRDA Guidelines the Insurer has to intimate the Insured and compete the extra documentation formalities as required for passing the decision of proposal acceptance is:
A. 10 Days
B. 12 Days
C. 15 Days
D. 20 Days
8. 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
9. An insurance agent sold two policies to two different persons having the same policy term. He declares the commission to each of them. The commission of one of the policy is more than the other. What should be the reasons for this difference?
A. Risk profile of both the policyholders is different
B. Age of both the policyholders is different
C. One has chosen lump sum premium policy and other has chosen regular premium policy
D. Both have chosen different kind of policies
10. In case of lien:
A. If the insured dies within the lien period, insurance company will still pay the full sum insured
B. The lien should diminish by an equal amount over specific period of time
C. If the term of the policy is multiple of three, then the lien operable is two third of the term of the policy
D. Conditions under which lien can be applied remain same for all insurance companies
11. For the customer whose claim has been refused by the company, the three places where the customer may follow up are - Ornbudsman, IRDA Customer Grievance Cell, and :
A. Consumer forum
B. SEBI
C. Life Insurance Council
D. District Congress Committee
12. What should an agent do to understand the state of mind of the client with respect to his investments in saving products?
A. Fact finding
B. Consulting the client's parents
C. C Consulting the family of the client
D. Reviewing his existing investments
13. In an MWP policy, the beneficiary under the plan, other than wife can be :
A. Ex wife
B. Siblings
C. Parents
D. Children
14. In order to ensure that premiums are paid out of a legitimate source of funds cash is accepted :
A. Upto 50,000
B. Upto 25,000
C. Upto 10,000
D. Upto 5,000
15. Akash is an unmarried person, employed with company ABC and drawing handsome salary. He has no liabilities. What kind of plan can be suggested to him?
A. Money Back
B. Term Plan
C. Endowment Plan
D. ULIP
16. XYZ Insurance Company has started promoting their insurance products mostly through Television and Newspaper advertisements. Hence, the said company is operating through
A. Direct channel
B. Indirect channel
C. Using both the channels
D. Agent channel
17. Which body has created call center for logging complaint
A. Life Insurance Council
B. IRDA
C. Insurance Association
D. Insurance Institute of India
18. In a policy detail of two persons is required in Non Medical Section of Proposal form because :
A. It is a Joint Life Policy
B. It is taken on another Life
C. It is a Whole Life Plan
D. Person being insured is a minor
19. The regulations issued by the IRDA, require that the decision on the proposal must be conveyed to the propcser within
A. 15 days of receiving the proposal
B. 20 days of receiving the proposal
C. 25 days of receiving the proposal
D. 30 days of receiving the proposal
20. Rajan takes a family floater health insurance of Rs 3 lacs from Insurance Company X and has health insurance of Rs 2 lacs from another Insurance Company Y from his employer's side. He suffers from heart attack and has a total bill of Rs 4 lacs. He can claim from :
A. Company X Only
B. Company Y Only
C. Both the companys to the extent of Rs 4 Lacs
D. Both the companys to the extent of Rs 5 Lacs
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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