For each of the following multiple choice questions, choose the most appropriate answer :
1. 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
2. Pooling of insurance applies to
A. All types of insurance
B. All types of insurance except Motor insurance
C. Only life insurance
D. Only Non-life insurance
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. Indisputability clause can be enforced by the insurance company during the
A. First five years of policy
B. First Two years of policy
C. Claim
D. Inception of the policy
5. A person aged 28 yrs is looking for Term plan, Health plan, Endowment plan and Child plan. Which plan is the most Important for him?
A. Health Plan
B. Endowment Plan
C. Child Plan
D. Term Plan
6. In the context of financial planning, how is the difference between real needs and perceived needs best described?
A. Real needs are financial needs and perceived needs are non-financial needs
B. Real needs are actual needs and perceived needs are based upon client's thoughts and desires
C. Real needs are identified by the insurance agent and perceived needs are identified by the client
D. Real needs are needs which satisfy an objective and perceived needs are needs which do not satisfy an objective
7. 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
8. In case an insured dies within a few months after commencement of the policy, then which of the following will be closely scrutinized?
A. Premium payments
B. Assignment details
C. Norninee details
D. Disclosure details
9. In a policy document of endowment contract what should be the key content?
A. Distinction between Guaranteed and Nonguaranteed benefits
B. Details of premium paying terms
C. Expected returns from funds
D. Amount of Insurance cover
10. 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
11. With reference to the principle of indemnity life insurance policy is
A. Insurance contract
B. Indemnity contract
C. Value contract
D. Major life contract
12. Ajay wants to take life insurance policy for his child, out of Certificate of Baptism and Ration card, which will be accepted as standard age proof?
A. Certificate of Baptism and Ration card both are standard age proofs
B. Certificate of Baptism is non-standard age proof and Ration card is standard age proof
C. Certificate of Baptism is standard age proof and Ration card is non:standard age proof
D. Both are non-standard age proofs
13. If the annual premium for plan is 32,000 and frequency loading of 4% is added in quarterly premium, what is the amount that needs to be paid?
A. 8000
B. 8320
C. 9456
D. 9240
14. Person comes back to previous comfortable financial position after suffering with loss. This is because of the following insurance Principle
A. Proximity
B. Insurable Interest,
C. Utmost good faith
D. Principle of Indemnity
15. 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
16. To attain higher persistency value what actions would be useful for annual mode:
A. Reminder for renewal premium
B. Easy credit facility for renewal
C. Annual account statement
D. Premium payment by agent
17. What key event is most likely to prevent insurers from ensuring that each insured person brings a fair premium to the pool for the risk presented?
A. A fraudulent claim
B. A policy assignment
C. A steep rise in inflation
D. A sudden illness
18. An insurance broker :
A. Represents the buyer and is remunerated by the company
B. Represents the company and is remunerated by the buyer
C. Represents the company and the buyer
D. Remunerated by both the company and the buyer
19. In life insurance business if a person is working in calculating premium rates of insurance products, he is most likely a member of :
A. Institute of Actuaries in India
B. Acturial Society of India
C. Institute of Chartered Accounts
D. All of these
20. A Govt. employee after retirement has chosen to take 10% of his pension benefit in cash. Which of the following options shall be applicable to the person so far as income tax payment is concerned?
A. It is absolutely tax free
B. He has to pay 10% TDS on the amount taken in cash
C. He has to pay 30% TDS on the amount taken in cash
D. Pension benefit not allowed in cash
Electrician Books
Rs405 |
Rs405 |
Rs270 |
Rs278 |
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Rs270 |
Rs279 |
Rs315 |
Rs315 |
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Rs216 |
Rs225 |
Rs180 |
Rs180 |
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Rs315 |
Rs279 |
Rs342 |
Rs279 |
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Rs505 |
Rs536 |
Rs217 |
Rs250 |
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Rs258 |
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 |
Rs260 |
Rs288 |
Rs270 |
Rs323 |
Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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