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Test 1
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Multiple Choice
Identify the choice that best completes the statement or answers the question. |
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1.
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Both the parties t6 'a contract must agree and understand the same thing
and in the same sense which is called
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2.
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According to Insurance broker association of India, what is the most appropriate
relationship between insurer and broker
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3.
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Reasons for surrender of the policy
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4.
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Which section deals with the licencing of an agent?
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5.
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During fact finding the need revealed requirement for margin money and
retirement fund. Which of these assumes higher priority will be determined on the basis of
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6.
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In which of the recognised life stages an indivlducl does not required any
protection cover
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7.
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A customer while investing in a recurring deposit or cumulative deposit what are
the key factors which will matter
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8.
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Prashant buys an endowment plan with a SA Rs. I lac an to make use of tax
benefit under the policy for whole S. much premium would help him avail this benefit-
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9.
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In a fact find, a couple discovered their need to be estate planning? In what
life stage will they be in?
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10.
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.Jay buys a policy on the life of Nazia. Who is Jay?
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11.
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Insurance benefits
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12.
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Breach of duty of utmost good faith
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13.
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After maturity in a ULIP customer does not get maturity amoUntk. lump sum. What
is the possibility of receiving it in instalments ifI is not annuity plan?
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14.
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Insurable interest on one's own life limited upto
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15.
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a Policy holder takes a insurance contract for 30 years and the SA reduces after
25 years what could be the likely reason
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16.
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A person retiring within 3 months need return as pension. What kind of
investment plan he need to choose.
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17.
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The amount payable under a life Insurance policy depends on
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18.
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Payment/investments in Kisan Vikas Patra under post office scheme is done
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19.
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Two endowment policies A and B are issued in the same time on the quarterly
mode. In both the policies 22 quarterly installments are paid. Both are surrendered immediately after
paying 22nd installment. But in policy A surrender value is significantly hig
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20.
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An advisor while explaining the policy and to sell he accepts to give a part of
his Agents commission, what is the limits
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21.
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Advisor motivate the client to surrender the existing Endowment plan and buy new
Whole life policy for gaining higher commission, is the example of?
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22.
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Insurance is helps to
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23.
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An insurer, as a trustee, has to ensure that
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24.
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Benefit illustrations given to a customer quantifies an amount by which
investment return is reduced. This reduction reflect the impact of
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25.
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What period of time a client has to be invested to get tax benefit under postal
scheme?
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26.
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What is the period of award passed to the customer decided by ombudsman?
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27.
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A human being
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28.
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The rates of assumed annual growth to be shared in the benefit illustration has
been decided by which of the authority
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29.
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Responsibility for classification and analysis of proposal form Iii with
whom?
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30.
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Life insurance is better than other avenues of saving in respect of
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31.
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Aman has taken a term plan for 20 years In the 3rd year he suffered financial
crisia due to....whibh he' was'. unable to pay premium within grace period . and died after
I month. The nominee files a claim and is rejected because
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32.
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Law of large number helps Insurer to analyse which key area
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33.
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Mr. Feroz has taken a policy for critical illness worti. Rs. 1Ia health,policy.
He.also has a term plan worth Rs 10 lac.Mr.. Fe was hospitalised after, hewas detected wthcancer. He
died afl .3 dayséf treatment. How the claim will be settled?
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34.
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What is the minimum age of the customer for entering the Insurance
contract?
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35.
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Client died in 89th day from DOC. In which category he is not eligible for claim
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36.
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To avail the income tax benefit at investment stage,V
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37.
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During claim insurer deduct Rs. 10,000 in spite of having no Lien and all
due premiums are paid. What are the other reason for deducting the same?
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38.
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Relation between insurer and Broker means
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39.
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In case the customer has stopped making payment for U premium of the policy what
are two most important thing requiri in order to reinstate the policy
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40.
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In term Insurance how peril & Hazard are distinguished?
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41.
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Ramesh wants to buy 15 years pension plan for retirement while calculating gaps
required at the end the gratuity amount was completely ignored because he is
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42.
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What ever riding criteria an insurance, agent consider whil proposing a
solution
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43.
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Life insurance is better than other avenues of saving in respect of
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44.
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If insured gets two advance payment in 5 yrs and in mat gets rest of sum assured
what type of policy it is
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45.
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Mr. Santash is head master and is 52 yrs old. He wants insuran cover for Rs. I
crore. He proposes his brother's son as nomin not his wife underwriter will verify
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46.
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While calculating HLV with future income, number of years work, increments in
salary what is also to be taken in to accouni
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47.
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E-Sales lefers to sales of insurance product through
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48.
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What will be maturity benefit under health insurance plan
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49.
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The best way to prove that customer of a ULIP policy is given awareness about
the commission paid to the agent is
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50.
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An agent is intermediary between
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