English IC38 Mock Test - Set-7
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English IC38 Mock Test Series
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Question 1 of 50
1. Question
1 pointsWhich of the following statements is true?
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Question 2 of 50
2. Question
1 pointsWhy do insurers arrange for survey and inspection of the property before acceptance of a risk?
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Question 3 of 50
3. Question
1 pointsA salesman should practice active listening because..?
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Question 4 of 50
4. Question
1 pointsIn communication, feedback is to be (Take out the one statement with which you do not agree)
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Question 5 of 50
5. Question
1 pointsWhich among the following cannot form the basis for a valid consumer complaint?
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Question 6 of 50
6. Question
1 pointsWhich of the below statement is correct with regards to the territorial jurisdiction of the Insurance Ombudsman?
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Question 7 of 50
7. Question
1 pointsIn case of cancellation of Agency , when can an applicant apply for fresh agency ?
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Question 8 of 50
8. Question
1 pointsIn case any person acts as an insurance agent in contravention of the provisions of Insurance Act 1938 and Regulations made there shall be liable to penalty which may extend up to ?
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Question 9 of 50
9. Question
1 pointsA policy of insurance may be called in question at any time within ____ years from the date of issuance of the policy or the date of commencement of risk or the date of revival, of the policy or the date of the rider to the policy, whichever is later, on the ground of fraud.
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Question 10 of 50
10. Question
1 pointsFind out the proximate cause for death in the following scenario? Ajay falls off a horse and breaks his back. He lies there in a pool of water and contracts pneumonia. He is admitted to the hospital and dies because of pneumonia.
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Question 11 of 50
11. Question
1 pointsWhich of the below mentioned insurance plans has the least or no amount of savings element?
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Question 12 of 50
12. Question
1 pointsWhich among the following cannot be termed as an Asset?
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Question 13 of 50
13. Question
1 pointsWhich among the following is not an objective of tax planning?
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Question 14 of 50
14. Question
1 pointsDuring which stage of life will an individual appreciate past savings the most?
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Question 15 of 50
15. Question
1 pointsThe premium paid for whole life insurance is _____________ than the premium paid for term assurance.
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Question 16 of 50
16. Question
1 points___________ life insurance pays off a policyholder’s mortgage in the event of the person’s death.
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Question 17 of 50
17. Question
1 pointsWhat does inter-temporal allocation of resources refer to?
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Question 18 of 50
18. Question
1 pointsWhich among the following is a limitation of traditional life insurance products?
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Question 19 of 50
19. Question
1 pointsWhat is the objective behind Mortgage Redemption Insurance?
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Question 20 of 50
20. Question
1 pointsA policy is effected under the MWP Act. If the policyholder does not appoint a special trustee to receive and administer the benefits under the policy, the sum secured under the policy becomes payable to the _____________.
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Question 21 of 50
21. Question
1 pointsInterest rates are one of the important components used while determining the premium. Which of the below statement is correct with regards to interest rates?
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Question 22 of 50
22. Question
1 pointsWith regards to valuation of assets by insurance companies, __________ is the value at which the life insurer has purchased or acquired its assets.
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Question 23 of 50
23. Question
1 pointsWhich of the below statement is correct with regards to a policy returned by a policyholder during the free look period?
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Question 24 of 50
24. Question
1 pointsWho is the Primary Underwriter?
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Question 25 of 50
25. Question
1 pointsWhat does a first premium receipt (FPR) signify? Choose the most appropriate option.
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Question 26 of 50
26. Question
1 pointsThe Insurance Act 2015 mandates
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Question 27 of 50
27. Question
1 pointsFor an insurance policy nomination is allowed under _________ of the Insurance Act, 1938.
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Question 28 of 50
28. Question
1 pointsWhich of the below statement is incorrect with regards to assignment of an insurance policy?
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Question 29 of 50
29. Question
1 pointsWhy is heredity history of importance in medical underwriting?
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Question 30 of 50
30. Question
1 pointsA payment made under a money-back policy upon reaching a milestone will be classified under which type of claim?
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Question 31 of 50
31. Question
1 pointsShankar bought a 10 year Unit Linked Insurance Plan. If he dies before the maturity of the policy which of the below will be paid?
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Question 32 of 50
32. Question
1 pointsHow many staffs are recommended and appointed under PHC
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Question 33 of 50
33. Question
1 pointsHow many members are there in the governing council of Insurance Information Bureau of India?
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Question 34 of 50
34. Question
1 pointsWhich of the below statement is correct with regards to renewal notice?
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Question 35 of 50
35. Question
1 pointsThough the duration of cover for pre-hospitalization expenses would vary from insurer to insurer and is defined in the policy, the most common cover is for ________ pre-hospitalization.
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Question 36 of 50
36. Question
1 pointsIdentify the correct full form of PPN with regards to hospitals in health insurance.
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Question 37 of 50
37. Question
1 pointsBasic principles for Underwriting are _________
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Question 38 of 50
38. Question
1 pointsStandard age proofs are
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Question 39 of 50
39. Question
1 pointsFinancial documents required for
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Question 40 of 50
40. Question
1 pointsThe principle of utmost good faith in underwriting is required to followed by….
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Question 41 of 50
41. Question
1 pointsWhich of the following statements about medical underwriting is incorrect?
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Question 42 of 50
42. Question
1 pointsThe losses of a few are shared amongst many through
the mechanism of –Correct
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Question 43 of 50
43. Question
1 pointsRisk Retention means –
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Question 44 of 50
44. Question
1 pointsInsurance refers to protection against an event that…… happen whereas Assurance refers to protection against an event that …. happen.
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Question 45 of 50
45. Question
1 pointsCost of the risk would ….. with the probability and amount of loss
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Question 46 of 50
46. Question
1 pointsWhich is the correct statement? Consumer means
Statement A: Buys any goods for a consideration and includes any user of such goods.Statement B: Hires of any services for consideration and includes beneficiary of such servicesCorrect
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Question 47 of 50
47. Question
1 pointsModes of settlement for Indemnity
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Question 48 of 50
48. Question
1 pointsCOPA act was passed in year
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Question 49 of 50
49. Question
1 pointsAn Agent after collecting premium is required to submit the premium within
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Question 50 of 50
50. Question
1 pointsScaffolding workers fall under the risk of :
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