Ic 33 paper 3

IC 33 Paper 3

Prepared by Manish SuryawanshiMob. No. 07276112117

1Prpared by Manish Suryawanshi

Question 1

Which among the following would you recommend in order to seek protection against unforeseen events?A Insurance B Transactional products like bank FD's C Shares D Debentures

Question 2

Optimal method of converting principal (which we may call the corpus )into annuity payments for meeting income needs post retirement is known as ____________A Distribution B Accumulation C Conversation D Estate


Question 3

Cardio vascular disease refers to the disease which affectA Heart and circulatory system(Blood) B Lungs and respiratory system C Kidney and excretory system D Stomach, intestine and digestive system

Question 4

Which among the below statements is true? Statement I: Every pension is an annuity Statement II: Every annuity is a pensionA I and II are true B I and II are false C I is true and II is false D I is false and IF is true


Question 5

In which of the following insurable interest will not existA Mr Singh wants to take an insurance policy for his child B Anita wants to take insurance policy for her friend C Anuj wants to take an insurance policy for her wife D All of the above

Question 6

In progressive risk profile Investment style is _____________A Accumulation B Wealth Accumulation C Estate Planning D Consolidation


Question 7

What are retained earningsA Premium B Surplus C Bonus D Assets

Question 8

Health Insurance policies can be obtained by ____________A Group B Individual C Family D All of the above


Question 9

Mahesh has taken as decreasing term life insurance policy to repay the balance of his mortgage loan if he dies before its full repayment... what policy has he opted forA Term Insurance B Life Insurance C Term & MRI D MRI

Question 10

Mr Suresh Patil is the main income earner of the family and wants to save in an insurance plan which gives him life cover till he is

alive Which plan will you suggest for his needs?

A Decreasing Term Assurance B Pure Endowment Plan C Pension Plan D Whole life Insurance Plan 6Prpared by Manish Suryawanshi

Question 11

The sum assured under keyman insurance policy is generally linked to which of the following?A key man income B Business profitability C Business history D Inflation index

Question 12

A Life Assured is missing for the last 7 years, on which basis will the death claim be settled?A court Decree B Declaration by Nominee C Declaration by Agent D Declaration by Employer


Question 13

Which among the following is an example of coercion?A Ramesh signs a contract without having knowledge of the fine print B Ramesh threatens to kill Mahesh if he does not sign the contract C Ramesh uses his professional standing to get Mahesh to sign a contract D Ramesh provides false information to get Mahesh to sign a contract

Question 14

Guiding principles for determining amount of loading areA Adequacy B Equity C Competitiveness D All of the above


Question 15

Predominant cause which sets into motion the chain of events producing the loss is known as _______________A Contract Adhesion B Proximate Cause C LeagalityD Utmost Good Faith

Question 16

Which of the below statements is correct?A The prime purpose of insurance regulation is to protect the insurance companies B The prime purpose of insurance regulation is to protect the policyholder C The prime purpose of insurance regulation is to protect the insurance intermediaries D The prime purpose of insurance regulation is to protect the Government


Question 17

Collecting numerous individual contributions From various People. These people have similar assets which are exposed to similar risks. This process is known as __________________A Peril B Pooling C Risk D asset

Question 18

Money laundering is the process of bringing _____________ money into an economy by hiding its ____________ origin so that it appears to be legally acquired.A Illegal: illegal B Legal, legal C Illegal; legal D Legal, illegal


Question 19

Out of 400 houses, each valued at Rs. 20,000, on an average 4 houses get burnt every year resulting in a combined loss of Rs. 80,000. What should be the annual contribution of each house owner to make good this loss?A Rs..100/-B Rs..200/-C Rs80/-D Rs.4001-

Question 20

Which among the following is not an element of active listening?A Paying good attention B Being extremely judgmental C Empathetic listening D Responding appropriately


Question 21

The awards by the Ombudsman are governed by the following rulesA Award should not be more than RS 20 IakhsB Award should be made within a period of 3 months from the date of receipt of the complaint C Insurer shall comply with the award and send a written intimation to the ombudsman within 15 days of the receipt of acceptance D All of the above

Question 22

Judicial channel for grievance established by the central government IsA State Forum B District Forum C National forum D Lifeline


Question 23

Under Sec 47 of insurance Act 1938 when claim is ready for payment but cannot be paid due lack of proper identification of the payee, Interest payable would be?A 2% over Bank Rate B Bank Rate C No Interest payable D 4% over Bank Rate

Question 24

How much Sum assured is permissible in relation to the incomeA 5to 10 times of the annual income B 10 to 12 times of the annual income C 12 to 15 times of the annual income D 15 to 20 times of the annual income


Question 25

During which stage of life will an individual appreciate past savings the most?A Post retirement B Earner C Learner D Just married

Question 26

Which of the following is not an underwriting decision?A Risk acceptance at standard rates B Declinature of risk C Postponement of risk D Claim rejection


Question 27

Who are the beneficiaries in MWP Act?A Wife & children B Only Policy holder C Parents D Friends

Question 28

Savings can be considered as a composite of two decisions. Choose them from the list below.A Risk retention and reduced consumption B Gifting and accumulation C Spending and accumulation D Postponement of consumption and parting with liquidity


Question 29

Mr. Ajay is persuading prospect to buy insurance policy to achieve his sales target, this behaviour IsA Ethical B Professional C Unethical D Moral

Question 30

A policy holder need to have a ____________ to avail the benefit of cashless facility under Health insurance policy.A Employees FD card B Identification card C Policy document D Smart Card


Question 31

What is the relation between investment horizon and returns?A Both are not related at all B Greater the investment horizon the larger the returns C Greater the investment horizon the smaller the returns D Greater the investment horizon more tax on the returns

Question 32

Mr Kumar wants to transfer his property in the name of his Son Vijay, this is known as ______________ planningA Investment Planning B Retirement Planning C Estate Planning D All of the above


Question 33

Santosh has applied for a term insurance policy. His anticipated mortality is significantly lower than standard lives and hence could be charged a lower premium. Under risk classification, Santosh will be classified under __________________A Standard lives B Preferred risks C Substandard lives D Declined lives

Question 34

In decreasing-term insurance, the premiums paid over _________________ time.A Increase B Decrease C Remain constant D Are returned 18Prpared by Manish Suryawanshi

Question 35

Moral hazard by health insurance companies can result in _________________A Community rating B Adverse selection C Abuse of health insurance D Risk pooling

Question 36

Based on classification of claims (early or non-early), pick the odd one out?A Ramya dies after 6 months of buying a term insurance plan B Manoj dies after one and half years of buying a term insurance plan C David dies after two and half years of buying a term insurance plan D Pravin dies after five and half years of buying a term insurance plan


Question 37

When was Variable Life Insurance first introduced in United States?A 1970 B 1965 C 1977 D 1980

Question 38

Prospecting in an insurance sale is __________________A Gathering the names of people who may be interested in insurance B Preparing a list of all the persons in the city C Enlisting all the policyholders of the branch office D Preparing list of all the agents in the neighbourhood


Question 39

Which of the below option is correct with regards to a term insurance plan?A Term insurance plans come with life-long renewability option B All term insurance plans come with a built-in disability rider C Term insurance can be bought as a stand-alone policy as well as a rider with another policy D There is no provision in a term insurance plans to convert it into a whole life insurance plan

Question 40

Which among the following can be categorised under transactional products?A Bank deposits B Life insurance C Shares D Bonds


Question 41

What are some non verbal gestures that indicate defensiveness and non receptivityA Smiling face B Arms are crossed in front of you C Purposeful gestures D Shoulders held back

Question 42

Phases of retirement planning are ________________A Distribution, Accumulation B Conversation. Accumulation C Conversation, Distribution D Accumulation, Conservation, Distribution


Question 43

During the _______________ period, if the policyholder has bought a policy and does not want it, he I she can return it and get a refund.A Free evaluation B Free look C Cancellation D Free trial

Question 44

What benefits are given by the government to promote health insurance?A Cash Benefits B Premium Discontinuance C No claims Bonus D Tax Benefits


Question 45

From the choices mentioned below, select the one that cannot be categorised as an annuity.A Rs. 2000 received today, Rs. 2000 received next year and Rs. 2000 received in 2 years B Electricity Bill C Car payments D Mortgage payments

Question 46

Origins of modern insurance business can be traced to ______________A BottomryB Lloyds C Rhodes D Malhotra Committee


Question 47

Praveen died in a car accident. The beneficiary submits documents for death claim. Which of the below document is an additional document required to be submitted in case of accidental death as compared to natural death.A Certificate of burial or cremation B Treating physician's certificate C Employer's certificate D Inquest Report

Question 48

Life insurance companies may offer rebate to the buyer on the premium that is payable on the basis of ________________A Sum assured chosen by the buyer B Type of policy chosen by the buyer C Term of the Wan chosen by the buyer D Mode of payment (cash, cheque, card) chosen by the buyer


Question 49

Which insurance is used for business protection purposeA Children education plan B Keyman Insurance policy C Re-insuanceD Term insurance

Question 50

Mr Ajay is interested in buying a health insurance plan. However he wants to include his wife as well as his daughter in the same plan. Which feature would be applicable to him?A Individual B Family Floater C Senior Citizen D Group. Health Insurance Plan Once you are finished, click the button below. Any items you have not completed will be marked incorrect.


Ic 33 paper 3

Business

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