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MCQ Practice by Saksham Chaudhry : Global Book Shop B-1/104 Paschim Vihar, New Delhi 110063 Tel: 01142316457, 9810570740
MCQ PRACTICE
by Saksham Chaudhry : Lancers Convent, Prashant Vihar, New Delhi 110085
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A fresh set of 20 random questions is generated every time you open this page and every time you refresh it.
For each of the following multiple choice questions, choose the most appropriate answer :

1. An indemnity bond was signed in policy when the claim was paiThis indicates that the policy was
A. lost 
B. paid u 
C. lapse 
D. surrendered 

2. While filling proposal form of Term insurance plan, details of two persons were mentioned in in non-medical underwriting form. What could be the reason?
A. Joint insurance Plan 
B. Securing two lives under one plan 
C. Proposer is different than Life insured 
D. Extrdetails were required 

3. The main function of the IRDA's Grievance Redressal Call Center is to educate the policyholders regarding :
A. Consumer forum 
B. Insurance ombudsman 
C. General Insurance Council 
D. Insurance Institute of India 

4. Certificate of village panchayat
A. Will be considered standard age proof 
B. Will be considered as nonstandard ageproof 
C. Will not be accepted 
D. Depends upon population of the place 

5. Loan can be taken against life insurance policies. The loan can be specific percentage of which value?
A. Paid up value 
B. Surrender value 
C. Total premiums paid 
D. Sum assured 

6. An agent has recommended an investment product with non-guaranteed benefits. The benefit illustration passed to his client will therefore use assumed annual growth rates of
A. 5% and 8% 
B. 5% and 10% 
C. 6% and 8% 
D. 6% and 10% 

7. 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 

8. 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 

9. Whole life policy document is :
A. Contract of Insurance 
B. Evidence of Contract 
C. Indemnity contract 
D. Insurance 

10. In the sales illustration, the reduction of the actual benefit amount is mainly due to deduction of :
A. Commission 
B. Charges 
C. Non guaranteed benefits 
D. eversionary Bonus 

11. Pooling of risk in insurance means
A. The premium collected & deposited in pool 
B. All similar risks are pooled together 
C. Premium is pool to make claims 
D. Contribution of insurance company 

12. 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 

13. For tax savings someone wants to fix deposit in a bank. What minimum duration is required?
A. 3 years 
B. 5 years 
C. 7 years 
D. Not eligible for tax exemption 

14. Rajiv has been identified with income replacement and health insurance needs. Due to his current financial arrangements, he wants the cover which should be cheapest. What should he consider?
A. Pure Term 
B. Pure endowment 
C. Endowment assurance 
D. Health insurance 

15. Consensus ad idem specifically describes which feature of valid contract?
A. Capacity to contract 
B. Direct contact with each other 
C. Same understanding 
D. Consideration 

16. A person receives Discounted Claim in context to :
A. profit in policy 
B. Duration of policy 
C. Timing of maturity 
D. Interest 

17. While calculating the retirement fund needed by a client, the agent does not consider the gratuity element. That is because the client is a :
A. Public sector employee 
B. Private sector employee 
C. Self employed 
D. Salaried employee 

18. A valid claim is delayed bv the insurer. The interest for the same will have to be paid by the Insurance company after how many days from the date of admission of the claim?
A. 10 days 
B. 20 days 
C. 30 days 
D. 60 days 

19. A proposal is accepted with lien. What is lien substitute for:
A. Declined clalm 
B. Increised premium 
C. Increased Sum assured 
D. Postponement 

20. In case of nomination process under what circumstances an appointee is made?
A. Nominee is minor 
B. Nomination relation is not established 
C. Assignment is made 
D. All these 

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
Fitter Books

Rs378

Rs459

Rs187

Rs136

Rs299

Rs266

Rs180 

Rs201

Rs39

Rs323

Rs360

Rs260

Rs288

Rs270

Rs323

Rs215

Rs243

Rs160

Rs225

Rs387

Rs315

Rs359

Rs288

Rs270
PLUS Rs100 Delivery Charges
Union Bank of India Account 448301010293420 Global Book Shop IFSC: UBIN0544833

Global Book Shop
B-1/104 Paschim Vihar, New Delhi 110063
Tel: 01142316457, 9810570740 facebook.com/doctorkc