For each of the following multiple choice questions, choose the most appropriate answer :
1. 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
2. What kind of policy does the employer who has insurable interest in the life of an employee take?
A. Surety insurance
B. Key man Insurance
C. Partnership Insurance
D. Debtor Insurance
3. For an insurance plan of term 20 years, when will the persistency bonus be paid?
A. After each year
B. After 5 years
C. After 10 years
D. After 20years
4. 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%
5. When the sales target of the agent is less what will be its effect on churning
A. Less churning
B. High Churning
C. No Churning
D. Less sales
6. How long is the free look-in period under a term insurance policy from the date of receipt of the policy document?
A. 5 days
B. 10 days
C. 15 days
D. 20 days
7. If Rajesh earns 5% net return on fixed deposit with 8% interest, where did remaining 3% vanish?
A. Decrease in tax rates
B. Lockins
C. Penalties
D. Inflation
8. The sole focus during a client's fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into?
A. Young married
B. Young married with children
C. Pre-retirement
D. Retirement
9. Ramesh wants to take an Insurance policy on the life of his brother Harish. Keeping the principle of insurable interest in mind under what circumstances can he insure Harish?
A. Ramesh is elder to harish
B. Harish's death can lead to financial loss to Ramesh
C. Harish has borrowed money from Ramesh
D. Ramesh has insurable interest in the life of Harish
10. In case of life insurance, the insurable interest should exist
A. At the time of taking the policy
B. At the time of claim
C. At the time policy matures
D. At the time of taking the policy & claim
11. The concept of insurance involves a transfer of
A. liability
B. needs
C. ownership
D. risk
12. Central Government may supercede IRDA ::
A. through a motion in parliament
B. by issuing a notification
C. by ammeding IRDA Act
D. by any of these
13. 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
14. An advisor has identified need of the client. Now should he communicate the details of the product to the customer or what is the next step after identifying client needs?
A. Identifying new need
B. Prioritizing the needs
C. Assess the need in monetary terms
D. Ask for details of the client
15. A client has been recommended a low-risk investment product by his insurance agent, but the client insists the agent arranges for the money to be invested in a higher risk product. What action should the agent take?
A. Carry out these instructions, but document that this contradicts the recommendation
B. Conduct a new fact-find
C. Invest a reduced amount of money in this product
D. Refuse to act for the client
16. Which need of the customer should be on the top priority?
A. Protection Needs
B. Investment
C. Power of Compounding
D. Premium and SA
17. 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
18. What are the financial planning need for a 38 year old lady with 2 year young daughter, whose husband has passed away leaving enough insurance cover?
A. Estate planning
B. Investment management
C. Loan protection
D. Pension planning
19. In an endowment policy how many nominees can be made
A. 1
B. 2
C. 3
D. Any number
20. 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
Electrician Books
Rs405 |
Rs405 |
Rs270 |
Rs278 |
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Rs270 |
Rs279 |
Rs315 |
Rs315 |
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Rs216 |
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Rs180 |
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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 |
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Rs288 |
Rs270 |
Rs323 |
Rs215 |
Rs243 |
Rs160 |
Rs225 |
Rs387 |
Rs315 |
Rs359 |
Rs288 |
Rs270 |
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