Ic 33 paper 5

IC 33 Paper 5

Prepared by Manish SuryawanshiMob. No. 07276112117

1Prepared by Manish Suryawanshi

Question 1

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


Question 2

Rating factors in underwriting does not depend onA Financial situation B Family History C No. of members in the family D Personal history of health and habits


Question 3

Which of the below risk cannot be addressed through pensions?A Life longevity B Inflation C Investment risk D Early death


Question 4

Who provides public pensions?A State B Employers C Insurers D NGO's


Question 5

Which of the following condition will affect a person's insurability negatively?A Daily jogs B Banned substance abuse C Lazy nature D Procrastination


Question 6

Which forum has the jurisdiction to entertain complaints exceeding Rs 100 lakhs.A District forum B State forum C National forum D Municipal forum


Question 7

Which among the following methods is a traditional method that can help determine the insurance needed by an individual?A Human Economic Value B Life Term Proposition C Human Life Value D Future Life Value


Question 8

__________includes preparing of budget, analysing of expenses and income flow and predicting the future monthly income & expenses.A Estate Planning B Investment Planning C Retirement Planning D Cash Planning


Question 9

Mr "X" is holding a policy in a life Insurnce Company, He had grievance which he wanted to take to Ombudsman, from where can he found the address of the nearby Ombudsman office?

A Proposal Farm B First premium receipt C Policy scheduleD Claim form


Question 10

____________are unforeseen life events that may call for a large commitment of funds.

A ULIP B Wealth Accumulation C Diversification D Contingencies


Question 11

Employer may take out a key person"s insurance policy on the_________ and__________ of any employee.

A Life of all employee B Employer cannot insure a keyman C Only health of the employees D Life or Health of Any employees


Question 12

Phases of retirement planning are____________

A Distribution, Accumulation B Conversation, Accumulation C Conversation, Distribution D Accumulation, Conservation, Distribution


Question 13

Identify the incorrect statement with regards to a 'qualified' prospect.

A A qualified prospect is one who can pay for insurance B A qualified prospect is one who can be approached on a favourable basis C A qualified prospect is one who is academically well qualified to buy insurance D A qualified prospect is one who can pass the company underwriting requirements


Question 14

What is the objective behind Mortgage Redemption Insurance?

A Facilitate cheaper mortgage rates B Provide financial protection for home loan borrowers C Protect value of the mortgaged property D Evade eviction in case of default


Question 15

Gross Premium includes

A Net premium B Loading for expenses & contingencies C Bonus loadings D All of the above


Question 16

Find out the proximate cause for death in the following scenario? Ajay Mils 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.

A Pneumonia B Broken back C Falling off a horse D Surgery


Question 17

Ajay singh is saving in an insurance policy since the past 4 years. Ever since he has purchased the policy for every query he has to visit the branch, hence whenever he visits the branch he is irritated... What according to you is missing in the client Advisor relationship

A Mr Singh"s Advisor is never present when he needs him for a policy query B The Advisor has given incomplete information to the customer C Active listening from the Advisor is missing D None of the above


Question 18

_________ is the feature in which an health insurance policy holder can transfer his policy with gained credit and time bound exclusion from one insurer to another.

A Network Provider B Portability C TPA D Mediclaim


Question 19

net premium is

A Level premium plus loadings B The discounted present value of all future claim liabilities C premium required to meet mortality risk of the pool D None of the above


Question 20

Mr Kumar wants to transfer his property in the name of his Son Vijay, this is known as _________ planning

A Investment Planning B Retirement Planning C Estate Planning D All of the above


Question 21

Are there any fee I charges that need to be paid for lodging the complaint with the Ombudsman?

A A fee of Rs 100 needs to be paid B No fee or charges need to be paid C 20% of the relief sought must be paid as fee D 10% of the relief sought must be paid as fee


Question 22

Which of the below can be categorised under wealth accumulation products?

A Bank deposits B Life insurance C General insurance D Shares


Question 23

In health insurance policy premium will be based on.

A Occupation B Income C Age D Height


Question 24

Who among the following is most likely to buy variable life insurance?

A People seeking fixed return B People who are risk averse and do not dabble in equity C Knowledgeable people comfortable with equity D Young people in general


Question 25

Which of the following are the elements of Financial Planning _________

A Investment & Risk Management B Tax & Estate Planning C Financial One"s need & Retirement Planning D All of the above


Question 26

Under risk classification,______________ consist of those whose anticipated mortality corresponds to the standard lives represented by the mortality table.

A Standard lives B Preferred risks C Sub-standard lives D Declined lives


Question 27

Which of the following statement is correct in relation to claim?

A A claim is the demand of performance by the insurer B A claim arises only when insured event takes place C A claim is valid if insured has paid all the premiums D All of the above


Question 28

Primary care can be described as ____________

A Care provided to patient in an acute setting B Care provided in hospitals C First point of contact for people seeking healthcare D Care provided by Doctors


Question 29

Which among the following is a non-traditional life insurance product?

A Term assurance B Universal life insurance C Endowment insurance D Whole life insurance


Question 30

Under which circumstances company requires a medical examination or other evidence of insurability

A Policy is in lapsed condition for less than 1 year B Sum assured or face value of the policy is low. C Customer is buying a new policy D Customer wants to revive a policy with high sum assured after 1 year of lapsation


Question 31

___________ Refers to protection against an event that will happen

A Insurance B Assurance C Micro Insurance D Bancassurance


Question 32

Mr XYZ is director of a company, Company has taken keyman insurance for him, If something happens to Mr XYZ then benefit will paid to ____________

A his Nominee B His Legal Heir C Company D None of the above


Question 33

In a legal contract if pressure is applied on either of the parties through criminal needs, it is known as.

A Coercion B Fraud C Undue Influence D Mistake


Question 34

__________refers to a hospital/health care provider enlisted by an insurer to provide medical services to an insured on payment by a cashless facility.

A Day care centre B Network provider C Third Party Administrator D Domiciliary


Question 35

Best way to approach a group for insurance.

A Testimonial B E-mails C Gold Galling D Conducting Seminars & Events


Question 36

State which of the statement is correct.

A In Ulip the policy holder can surrender the plan post 5 yrs of policy. B In Ulip the policy holder cannot surrender the plan post 5 yrs of policy. C In Ulip the policy holder cannot surrender the plan post 3 yrs of policy. D Policyholder cannot surrender the plan


Question 37

Which of the below death claim will be treated as an early death claim?

A If the insured dies within three years of policy duration B If the insured dies within five years of policy duration C If the insured dies within seven years of policy duration D If the insured dies within ten years of policy duration


Question 38

Section 45 of insurance Sector 1938 is applicable upto ?

A 2 Yrs B 1 Yrs C 7 Yrs D till end of the term


Question 39

Which insurance is used for business protection purpose.

A Children education plan B Key man insurance policy C Re-insurance D Term insurance


Question 40

___________ is a rise in the general level of prices of goods and services in an economy over a period of time.

A Deflation B Inflation C Stagflation D Hyperinflation


Question 41

Predominant cause which sets into motion the chain of events producing the loss is known as ___________

A Contract Adhesion B Proximate Cause C Leagality D Utmost Good Faith


Question 42

Excessive production and reproduction of cells leads to malignant tumors is called as

A Tuberculosis B Cancer C Liver cirrhosis D Diabetes


Question 43

Which of the following are the components of level premium.

A Cash value element B Term or protection component C Both of the above D Cash reserve ratio


Question 44

As per RDA regulations issued in February 2013, what is the grace period allowed beyond the expiry date of the policy, for renewal?

A 15 days B 30 days C 45 days D 60 days


Question 45

______________ is a plan with the provision for return of a part of the sum assured in periodic installments during the term and balanced of sum assured at the end of the term.

A Pure Endowment Plan B Money back plan C Whole Life Insurance D Cash back plan


Question 46

Components of premium are

A Mortality & interest B Bonus loadings C Reserves & expenses of management D All of the above


Question 47

As per the Sec. 42 sub section (4) of Insurance Act 1938, agent license will be disqualified if she or he

A Not good in communication B Not holding his own house C Unsound mind D Non Educated


Question 48

When is the best time to start financial planning?

A Post retirement B As soon as one gets his first salary C After marriage D Only after one gets rich


Question 49

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 50

__________ refers to the ability to perform the promised service dependably and accurately.

A Reliability B Responsiveness C Assurance D Empathy


Ic 33 paper 5

Business

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