For each of the following multiple choice questions, choose the most appropriate answer :
1. Kanial is willing to pay 60,000/- per annum for his ULIP policy. What should be the SA if he wants to avail the tax benefits?
A. 1 lacs
B. 3 lacs
C. 2 lacs
D. 1.5 lacs
2. What is the maximum sum assured under micro insurance?
A. 10,000
B. 25,000
C. 50,000
D. 100,000
3. During fact finding, what will be the next step after Identifying clients need :
A. Quantify client's need
B. Prioritize clients Need
C. Recommending Product
D. Fill up the proposal form
4. Mr Sudhakar wants to invest in post office term deposit for tax benefits. What is the minimum duration for which he needs to invest this money?
A. 1 year
B. 2 years
C. 5 years
D. 10 years
5. 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
6. 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
7. Where annually increasing flexible premiums operate under a life insurance policy, what rate of increase will generally apply?
A. 2.5%
B. 3.0%
C. 5.0%
D. 7.5%
8. Raju died 5 years before the end of his 30-year endowment insurance policy. What factor most likely caused the insurer to investigate the claim using the early death claim procedures?
A. He paid the most recent premium during the period of grace
B. His cover was originally accepted with a premium loading on medical grounds
C. His death resulted from a recently acquired sudden illness
D. The policy had lapsed and was revived shortly before he died
9. If custonier has applied for a policy with 1 Lac SA then what is maximum Premium on which he can saave taxes?
A. Maximum 20,000
B. Maximum 100,000
C. Maximum 120,000
D. Maximum 150,000
10. How are perils and hazards normally distinguished under term insurance policies?
A. Perils are medical factors which influence the risk of dying and hazards are lifestyle activities which influence the risk of dying
B. Perils are risks that policyholders will die before a specified date and hazards are factors which could influence that risk
C. Perils are factors which affect the risk being insured and hazards are the size of the risk being insured
D. Perils are factors which could influence an insured event occurring and hazards are the actual events which will trigger a payout
11. An investment like Kisaan Vikas Patra would be preferred by a person who is looking for :
A. A lump sum investment & fixed maturity
B. A lump sum investment & open ended maturity
C. Monthly investment & open ended maturity
D. Monthly investment & fixed maturity
12. According to IRDA guidelines, in what maximum time does an insurance company have to complete its investigation of a claim?
A. 1 month
B. 2 months
C. 3 months
D. 6 months
13. What is ensured by higher persistency to the insurer?
A. More productivity
B. Higher attrition
C. Higher profits
D. Higher Sum Assured
14. A widow apphes for a clairn that gets rejecteApart from approaching the ornbudsman she can approach :
A. IRDA Authorized Lawyer
B. Consumer forum
C. General Insurance Council
D. Reinsurer
15. Amit has decided to invest Rs1,00,000/- every year in ULIP where as Ramesh has decicided to invest the same amount in PF. In relation to tax exemption under 80which of the following is correct?
A. Both the investments have tax exemption
B. Tax exemption u/s 80C is not available in ULIP
C. Tax exemption u/s 80C is not available in PF
D. Tax exemption u/s 80C is not available in both ULIP and PF
16. The Institute of Insurance and risk management along is involved in insurance education and :
A. Regulation
B. Redressal
C. Research
D. Repository
17. As per the Indian Evidence Act 1872, if a person is NOT heard for a long time, after how mny years, the presumption of death can be established :
A. 2 years
B. 5 years
C. 7 years
D. 10 years
18. The concept of indemnity is based on the key principle that policyholders should be prevented from
A. insuring existing losses
B. making false insurance claims
C. paying excessively for insurance cover
D. profiting from insurance
19. Vijay had taken policy on annual mode and on his death in the 3rd year, the company paid claim partially, This was because of
A. Premiums unpai
B. Claim documents not submitte
C. Operation of Lien
D. None ofthe above
20. Within how many years complaint can be made through consumer protection act?
A. 1
B. 2
C. 3
D. 5
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 |
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