Test Your Knowledge - Free MCQ PRACTICE
by Saksham Chaudhry : Paschim Vihar, New Delhi 110063 T: 1142316457, 9810570740
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DRIVINGTEST
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. The proposer can withdraw from the contract, if he disagrees with the terms and conditions of the policy, within free look-in period of :
A. 15 days from the date of receipt of the policy document
B. 20 days from the date of receipt of the policy document
C. 25 days from the date of receipt of the policy document
D. 30 days from the date of receipt of the policy document

2. After submission of all documents and papers in case of death claim, the proper the proper identification of the payee cannot be done due to some reason. After how many days the bank intercst is payable to the payee?
A. 15
B. 10
C. 30
D. 180

3. If bonus is given under a plan, the additional premium added is known as
A. Loading
B. Investment
C. Frequcricy
D. None of these

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. Job of a nodal officer of insurance company involves :
A. Addressing customer grievances
B. Deciding, the premium to be charged
C. Imparting training
D. Looking after sales

6. In an endowment policy, bonus becomes payable because of
A. Indexation
B. Inflation
C. Loading
D. Increase in Premium

7. 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

8. After doing the need analysis of the client, the agent advised the client to opt for TROP product. But the client refuseAccording to ethical business practices what should the agent do?
A. Enquire about the refusal from the client
B. Suggest an alternative plan
C. Pass on to a senior
D. Pass on to the other agent

9. 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

10. What does life insurance company save on while selling products exclusively online?
A. Commission
B. Income Tax
C. Marketing Cost
D. Reinsurance premium

11. In a fact find process, the product recommended by an agent should depend on:
A. The need
B. The earning potential
C. Premium paying capacity
D. None of the above

12. 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

13. 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

14. Rajat and Ramesh buy a health plan witli same premium but Rajat gets more tax advantage. The reason could be :
A. Rajat is more than 65 years of age and Ramesh is less than 65
B. RaJat is an NRI and Ramesh is not
C. Rajat has better healtli than Ramesh
D. Ramesh is richer than Rajat

15. Rohit died and was paid the claim, which was less though he had paid all the premiums on time, what is the reason for the same?
A. Lien was applied to the Policy
B. Term plan was taken
C. ADrider was attached
D. Policy was affected due to moral hazards

16. What is the key, that indicates that the insurance contract has begun?
A. Receipt of Policy Document
B. Receipt of First Premium receipt
C. Proposal Form Submission
D. Checlue submitted date

17. In case of insurance, consideration refers to:
A. Premium paid
B. Insurance acceptance
C. Age
D. Tenure of policy

18. 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

19. When a person is investing in Debt Mutual Fund, what is the primary objective?
A. Good returns
B. Regalar Income
C. Safety
D. Liquidity

20. customer receives automatic payments twice in gap of 5 years in his policy and after 1 year, on his death his nominee receives entire amount again. Which policy do you think he has?
A. Endownient
B. Money Back
C. Term Plan
D. Annuity

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