For each of the following multiple choice questions, choose the most appropriate answer :
1. The main insurance training institute in India is :
A. Life Insurance Council
B. Tariff Advisory Committee
C. National Insurance Academy
D. IRDA
2. Payment in Kisan Vikas Patra under post office schemes is done :
A. Regularly, with no fixed term
B. Lump sum, with no fixed term
C. Lump sum for fixed period of time
D. Regularly for fixed period of time
3. The underselling of insurance is considered detrimental because :
A. Financial benefits will not be compensated fully
B. Insurance will have no effect
C. More policies cannot be sold at a later stage
D. The proposer has to pay a lower premium
4. The lung cancer is aggravated by smoking. In terms of insurance, these are respectively known as
A. Hazard & peril
B. Peril & hazard
C. Effect & cause
D. Either peril or hazard
5. 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
6. In the personal statement, Harish declares that he consumes alcohol twice every week. This is
A. Moral hazar
B. Moral peril
C. Physical hazar
D. Physical peril
7. 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
8. Dctarification of TAC will help :
A. Pricing can be decided based upon risk assessment by insurer
B. Reduce the pricing
C. Increase pricing
D. Pricing as per the rnarket trend
9. 1t has been observed that, most of the policies issued by M/S XYZ Insurance Company have been cancelled by the insured during the free look period. What may be the most likely reason so far ethics is concerned?
A. The company has no ethics
B. The company has only internal ethics but not external
C. The company has external ethics but not internal
D. The company has both the ethics
10. Why do insurance companies follow the principle of law of Large numbers?
A. To calculate death ratio
B. Dctermine cost of annual claims
C. Calculate pure risks
D. None of these
11. From Insurance Company's point of view, most important aspect in a Term Insurance policy lies with :
A. Good ethics
B. Fact findings
C. The proposal
D. Underwriting process
12. 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
13. 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
14. Suresh Sharmhas paid 8 yearly premiums for 30 year endowment plan having sum assured of 800000. The bonus accrued in the policy is 60000. Calculate the paid value of the policy
A. 17235
B. 272153
C. 273435
D. 273333
15. Ashu is an illiterate person and his proposal form was filled by Nishu, then what is the additional requirement to be taken along with the documents?
A. The policy needs to be advertised in the newspaper
B. Nishu has to sign an indemnity bon
C. Thumimpression of Ashu has to be taken
D. Ashu needs to be medically examined
16. NIA's main work is :
A. Calculating premium
B. Conducting Exanis
C. Training
D. Certification
17. 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
18. Harish wants to buy an insurance plan for his brother Rakesh, the factor which shows the principle of Insurable interest, makes it possible, if:
A. Raksh owes money to Harish
B. Harish will be adversely affected financially due to death of Rakesh
C. Rakesh is older than Harish
D. Rakesh signed financial disclaimer about his liabilities
19. An investor holds a wide range of shares. If the Reserve Bank of India announces a series of significant interest rate increases, the prices of these shares are most likely to
A. become volatile
B. decrease
C. increase
D. stagnate
20. What is the ceiling of tax exemption under section 80C of Income Tax Act?
A. 1 lakh
B. 1.5 lakhs
C. 2 lakhs
D. 3 lakhs
Electrician Books
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Rs270 |
Rs278 |
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Rs270 |
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Rs315 |
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Rs180 |
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Rs315 |
Rs279 |
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Rs279 |
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Rs536 |
Rs217 |
Rs250 |
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Rs299 |
Rs88 |
Rs101 |
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Rs387 |
Rs315 |
Rs360 |
Rs270 |
Rs245 |
Rs378 |
Rs459 |
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Rs187 |
Rs136 |
Rs299 |
Rs266 |
Rs180 |
Rs201 |
Rs39 |
Rs323 |
Rs360 |
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Rs288 |
Rs270 |
Rs323 |
Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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