Test Your Knowledge - Insurance IC-33 MCQ PRACTICE
by Saksham Chaudhry : Lancers Convent, Prashant Vihar, New Delhi 110085
ELECTRICIAN
BIOCHEMISTRY
BOTANY
PATHOLOGY
MICROBIOLOGY
CHEMISTRY
BIOTECHNOLOGY
Insurance IC-33
FITTER
PHYSICS
PHARMACOLOGY
COMPUTER
MACHINIST
ZOOLOGY
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. If a lien is applied it would lead to:
A. Decrease in Premium 
B. Increase in Premium 
C. Decrease in Claim amount 
D. Reduced Sum Assured 

2. In insurance terms, the risk of suffering a disability is best described as what type of risk?
A. Financial 
B. Fundamental 
C. Homogenous 
D. Speculative 

3. Which need of the customer should be on the top priority?
A. Protection Needs 
B. Investment 
C. Power of Compounding 
D. Premium and SA 

4. Rahul is employed by Sunny. In respect of this employment, Rahul automatically has insurable interest in Sunny life up to what limit, if any?
A. Rahul monthly salary 
B. Rahul pension fund value 
C. Sunny‚Ä's annual profit 
D. There is no limit 

5. With pooling of risks an insurance company pools the premium collected from several individuals to insure thern against similar risks. At what circumstances will the insurance companies pool the risk of life insurance and health insurance together?
A. Under no circurnstances 
B. Under conditions of the reinsurer 
C. As directed by actuary 
D. D, As per company policy 

6. Mr Gaurav has joined as Director of Insurance Company. Now as per the IRDA act he is not allowed to play the role of :
A. Agent 
B. Chief Actuary 
C. Under writer 
D. All of these 

7. The condition that sum assured is payable on regular premium payment is reflected on which part of the pclicy document?
A. Preamble 
B. Terms and conditions 
C. Operative clause 
D. Policy information statement 

8. Once an absolute assignment is effected under a life insurance policy, who will be the titleholder(s) of this policy?
A. The assignor in all cases 
B. The assignee in all cases 
C. ither the assignor or assignee depending on the type of policy involved 
D. The assignor and assignee jointly 

9. 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% 

10. In cumulative bank deposit the interest is normally compounded :
A. Monthly 
B. Quarterly 
C. Half yearly 
D. Annually 

11. If a person has taken license from IRDA he cannot :
A. work for more than I insurance company 
B. sell Term plans 
C. sell Annuity plans 
D. sell endowment plans 

12. During a fact finding process the need analyzed were income replacement and children's education. But the customer insists on only a child plan for the time being and asks the agent to give him a child plan. The agent should :
A. Do the fact finding exercise again 
B. Insist with the client to take a term plan 
C. Give a child plan and revisit the client on a later date 
D. Give the lead to another agent 

13. Mr Purushotarn has joined as Director of an Insurance Company. Now as per the IRDA act he is not allowed to work as :
A. Agent 
B. Actuary 
C. Underwriter 
D. None of these 

14. What is the key function of NIA?
A. Provide suggestion for premium calculation 
B. To be an active link between global market and Indian Life Insurance Industry 
C. Design, implement and operate insurance training 
D. Regulate the investment of funds by Life Insurance companies 

15. 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 

16. 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 

17. If the client does not wish to proceed with the recommendations right at the moment, the agent should :
A. Insist on taking the product right away 
B. Should ask for the reason for not going with the recommendation 
C. Should ask for a future date from the client 
D. Should review once again 

18. 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 

19. In normal claim settlement process, if death claim arises within few days of issuing the policy, on priority, the company would check the following :
A. Age proof 
B. Material facts 
C. FIR 
D. FPR 

20. If ombudsman makes a recommendation which is accepted by complainant then it would be :
A. binding on the Insurer 
B. Sent to the insurer for review and acceptance 
C. Sent to IRDA for approval 
D. Not binding on any party 

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