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 lung cancer is aggravated by smoking. In terms of insurance, these are respectively known as
A. Hazard & peril
B. Peril & hazard
C. Effect & cause
D. Either peril or hazard
2. Whuch institute is concerned with insurance training, education, research and publication, and risk management :
A. IRDA
B. National Insurance Academy (NIA)
C. Insurance Institute of India
D. Life Insurance Corporation
3. A person of age 15 has entered an insurance contract. Which is valid with regards to the contract?
A. Valid in the eyes of law
B. Null and void
C. Voidable
D. Consideration
4. In convertible policy; when can policy holder free look his policy?
A. After receiving First Premium Receipt
B. Any time during the term of the policy
C. After receiving the Policy Document
D. At the time of First Policy anniversary
5. Akash is an unmarried person, employed with company ABC and drawing handsome salary. He has no liabilities. What kind of plan can be suggested to him?
A. Money Back
B. Term Plan
C. Endowment Plan
D. ULIP
6. In which section of Policy document, Information about the location of the insurance Ombudsman had written?
A. Operative clause
B. Attestation
C. Information statement
D. Endorsements
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. 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. What is the stipulated time frame within which an insurer is supposed to respond after receiving any communuication from its policyholders?
A. 1 day
B. 5 days
C. 10 days
D. 30 days
10. In case of presumption of death :
A. Not necessary to pay premium until court decree
B. Necessary to pay premium until court decree
C. Claim not admissible
D. None of these
11. In case of any unethical practices in sales followed by an insurance company the clea-cut impact will be shown in :
A. Claims ratio
B. TAT on complaints
C. Persistency ratio
D. Market share
12. The need for investment advice from an insurance agent normally results from what overriding key factor?
A. Absence of any long-term goals
B. Inability to prioritise future financial needs
C. Lack of market knowledge
D. Shortage of available funds
13. The reason for verv less penetration of life insurance in India is :
A. Many people do not appreciate the importance of having insurance cover
B. Agents are not professional enough to provide need based solutions to customers
C. Insurance companies want to have more profits and they do not focus on customers
D. Insurance companies do not have good products to offer
14. 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
15. The main role of an underwriter in a non-life insurance company is normally to
A. assess the acceptability of particular risks
B. certify a loss when claims are submitted
C. design the structure of the products to be offered
D. negotiate with the industry regulator
16. The basic reason of doing an income and expenditure analysis is to find out:
A. Fund on Retirement
B. Net Income
C. Affordability
D. Assets and Liabilities
17. In one of the policy "Appointee" is required for the nominee. The reasons could be:
A. The nominee is mentally challenged
B. The nominee is minor
C. It is children plan
D. The nominee is physically handicapped
18. NIA's main work is :
A. Calculating premium
B. Conducting Exanis
C. Training
D. Certification
19. Mr Ramesh has taken a life police as recommended by an insurance agent. Now the role of Agent's Principal lies with :
A. Insured
B. Insurance Company
C. Proposer
D. IRDA
20. 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
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