Test Your Knowledge - Free MCQ PRACTICE
INSURANCE
by Dr K Chaudhry
BIOCHEMISTRY
BIOLOGY
BIOTECHNOLOGY
CHEMISTRY
COMPUTER
ELECTRICIAN
FITTER
GENERALKNOWLEDGE
INSURANCE
MACHINIST
MICROBIOLOGY
PATHOLOGY
PHARMACOLOGY
PHYSICS
ANATOMY
PHYSIOLOGY
FORENSICMEDICINE
OPERATIVEDENTISTRY
DENTISTRY
PERIODONTICS
PEDODONTICS
ENDODONTICS
COMMUNITYMEDICINE
OPHTHALMOLOGY
ENT
MEDICINE
SURGERY
OBSGYN
PAEDIATRICS
ORTHOPAEDICS
DERMATOLOGY
ANAESTHESIA
RADIOLOGY
PSYCHIATRY
ELECTRONICENGINEERING
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. In cumulative bank deposit the interest is normally compounded :
A. Monthly
B. Quarterly
C. Half yearly
D. Annually

2. What is the FDI Limit in the insurance sector?
A. 50%
B. 75%
C. 26%
D. 33%

3. The clients of re-insurers are
A. Insurance companies
B. Banks
C. Asset Management Companies
D. Individuals

4. Zainegot insurance done for Jaismeet. Who would zainebe referred to as:
A. Life Insured
B. Proposer
C. Customer
D. Insurer

5. 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 the superior
D. Pass on to the other agent

6. Harish wants to buy an insurance plan for his brother Rakesh, the factor which shows the principle of Insurable interest, makes it possible, if:
A. Raksh owes money to Harish
B. Harish will be adversely affected financially due to death of Rakesh
C. Rakesh is older than Harish
D. Rakesh signed financial disclaimer about his liabilities

7. If person receives 10,000 less as death claim after paying all premiums and there is no lien. It could be due to
A. Increase in premium rates
B. loadings
C. loan
D. Inflation

8. Prashant buys an Endowment Plan with a sum assured of Rs100,000 and wants to make use of tax benefit under the policy for whole SHow much premium would help him avail this benefit?
A. Less than 10,000
B. More than 10,000
C. Less than 20,000
D. More than 20,000

9. When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?
A. Emergency funds
B. Funds for children's savings
C. Funds for educational costs
D. House purchase funds

10. As per IRDA regulations, setting up of Internal Grievance Management System is mandatory for :
A. Large insurance companies
B. Life insurance companies
C. Nonlife insurance companies
D. All insurance companies

11. Sumesh is married and has two kids of age 5 & 7. He has medical insurance for him but has no protection on his life. What will you suggest him?
A. Health Insurance for children
B. Health insurance for spouse
C. Unit Linked insurance plan
D. Term plan

12. 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

13. Attestation on the policy requires signature of
A. Agent
B. Insurance company's authorized official
C. Nominee
D. Appointee

14. In a policy detail of two persons is required in Non Medical Section of Proposal form because :
A. It is a Joint Life Policy
B. It is taken on another Life
C. It is a Whole Life Plan
D. Person being insured is a minor

15. An indemnity hond was signed when the claim was paiThis indicates that the policy was :
A. lost
B. paid tip
C. lapse
D. surrendered

16. While calculating the retirement fund needed by a client, the agent does not consider the gratuity element. That is because the client is a :
A. Public sector employee
B. Private sector employee
C. Self employed
D. Salaried employee

17. While Underwriting Mr X proposal, it is found that there has been CRIMINAL case against him in a fraudulent act. What type of risk will this be categorized lnto?
A. Fraudulcnt Hazard
B. Occupational Ilazard
C. Physical Hazard
D. Moral Hazard

18. What is the date of the policy commencement?
A. When FPR is issued
B. When child reaches the age of 18
C. When customer signs the proposal
D. When customer assigns the policy

19. If we hold 100 units in gold ETF, how much grams we have in physical :
A. 5 or 10 grams
B. 10 or 15 grams
C. 15 or 25 grams
D. 50 or 100 grams

20. If premium was not paid on due date and the insured dies during the grace perioThe claim :
A. Will not be paid as policy has lapsed
B. Will be paid
C. Will be paid after deducting the premium due
D. Payment shall be at the discretion of the insurer

Public Hospital 554/7 New Anaj Mandi, Fatehabad 125050 M: 9810570740, 9810571993
Tel: 01667221011, 9810570740, 9810571993 facebook.com/doctorkc