MCQGeeks
0 : 0 : 1
CBSE
JEE
NTSE
NEET
English
UK Quiz
Quiz
Driving Test
Practice
Games
Quiz
Commerce
Insurance
Quiz 12
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Q.1
What is the basic contingency associated with pensions?
Mortality
Morbidity
Post-retirement income security
Disability
Q.2
In an ordinary annuity, payments are made or received _________ of each period.
At the beginning
At the end
On maturity
6 months before expiry
Q.3
Which of the below mentioned insurance plans has the least or no amount of savings element?
Term insurance plan
Endowment plan
Whole life plan
Money back plan
Q.4
Which of the below is not a component of ULIP premiums?
Policy allocation charge
Investment risk premium
Mortality charge
Social security charge
Q.5
Life insurance companies may offer rebate to the buyer on the premium that is payable on the basis of _________.
Sum assured chosen by the buyer
Type of policy chosen by the buyer
Term of the plan chosen by the buyer
Mode of payment (cash, cheque, card) chosen by the buyer
Q.6
In the case of a policy under the provision of M.W.P. ACT who can make the death claim?
Beneficiary
Life insured Heirs
Trustee
Any of the above
Q.7
Which kind policies are not entitled bonuses?
Non participatory
Money back
Children’s
Whole life
Q.8
A policy which has run for 8 years can be called into question if there is a_________
Fraud
Misrepresentation
Mistake
None of the above
Q.9
What is a company formed and registered under the Companies Act, 1956 and which has been granted a certificate of registration by Insurance Regulatory and Development called?
Insurance Depository
Insurance Loka
Insurance Atantia
Insurance Repository
Q.10
Expand IPO.
Indian Public Offering
Initial Public Offering
Initial Political Offering
Initial Potential Offering
Q.11
The term TPA refers to _________. (Answer with regards to health insurance)
The Primary Associate
To Provide Assistance
Third Party Administrator
Third Party Assistance
Q.12
Which of the below group would not be eligible for a group health insurance policy?
Employees of a company
Credit card holders of an organisation
Professional association members
Group of unrelated individuals formed for the purpose of availing group health insurance
Q.13
State which of the following statements is correct
ULIPs provide for flexibility
ULIPs are better than traditional policies
Both the above statements are correct
Both the above statements are wrong
Q.14
State which one of the following statements is correct
When vital information is not disclosed, the policyholder is benefited
When a claim is repudiated, the agent’s trustworthiness is affected
Both the statements above are correct
None of the above
Q.15
State which one of the following statements is correct?
The social sector is not only in the urban areas
The social sector includes the unorganized sector
Both the statements above are correct
Both the statements above are wrong
Q.16
Which among the following cannot be termed as an asset?
Car
Human Life
Air
House
Q.17
Interest rates are one of the important components used while determining the premium. Which of the below statement is correct with regards to interest rates?
Lower the interest rate assumed, lower the premium
Higher the interest rate assumed, higher the premium
Higher the interest rate assumed, lower the premium
The interest rates don’t affect premiums
Q.18
When does a claim arise under an insurance policy?
Whenever the policyholder feels the need for money
When the insured events happen
When a premium is not paid
Whenever any of the three things mentioned above happen
Q.19
Which one of the following statements is correct?
Maturity claim cheques are paid to the trustees in a MWP Act case
Maturity claim cheques are paid to the beneficiaries in a MWP Act case
Both the statements above are correct
Both the statements above are wrong
Q.20
Which of these is not a product of life insurance?
Whole life
Term
Life annuity
Car Insurance
Q.21
Which is not the product of general insurance?
Motor insurance
Personal accident insurance
Medical and health insurance
Life insurance
Q.22
Who cannot be covered under a family floater policy?
Children
Spouse
Parents-in-law
Maternal uncle
Q.23
State which of the following statements is correct
In ULIPs, the offer bid spread is the difference between the two prices
In ULIPs, the offer bid spread, will in some cases be zero
Both the above statements are correct
Both the above statements are wrong
Q.24
State which of the following statements is correct
In ULIPs the insurance cover must be a minimum multiple of the premium
ULIPs can be surrendered after two years
Both the above statements are correct
Both the above statements are wrong
Q.25
State which one of the following statements is correct
Life insurance is the best savings scheme for all persons
Life insurance is the best investment scheme for young persons
Both the statements above are correct
Both the statements above are wrong
Q.26
State which one of the following statements is correct?
The tax provisions are the same for all kinds of savings
The tax provisions are included in the Constitution
Both the statements above are correct
Both the statements above are wrong
Q.27
National Insurance Academy is located in which city?
Pune
Ajmer
Gurgaon
Panaji
Q.28
Institute of Insurance and Risk Management is located in which city?
Agra
Aligarh
Hyderabad
Ahmedabad
Q.29
Which one of the following statements is correct?
If the underwriter feels that the risk is more, he will accept at OR
If the underwriter feels that the risk is more, he may impose a lien
Both the statements above are correct
Both the statements above are wrong
Q.30
Which one of the following statements is correct?
The schedule of a policy is not altered after the policy is issued
Changes in the terms of the policy are made through endorsements
Both the statements above are correct
Both the statements above are wrong
Q.31
Which one of the following statements is correct?
The beneficiaries under the MWP Act can be any member of the family
A policy can be taken under the MMWP Act for the benefit of parents
Both the statements above are correct
Both the statements above are wrong
Q.32
Which one of the following statements is correct?
Foreclosure can be done only with the consent of the policyholder
Foreclosure can be done only after informing the policyholder
Both the statements above are correct
Both the statements above are wrong
Q.33
Which one of the following statements is correct?
Revivals are not done unless the entire outstanding premium is paid
Revivals are not done unless the underwriter agrees
Both the statements above are correct
Both the statements above are wrong
Q.34
If a claim is made in January 2007 under a policy, which commenced in May 2002, stating that the life insured had died in April 2004,
Section 45 of the Act will not apply
The claim can be treated as an early claim
Foul play must be suspected
All of the above
Q.35
Which one of the following statements is correct?
A policy reported to be lost, may actually have been assigned
A policy has no value after the payment of survival benefits
Both the statements above are correct
Both the statements above are wrong
Q.36
A standalone health insurance company is
A health insurance company which has only one office throughout the country
A life insurance company selling general insurance products like health insurance
A general insurance company which sells only health products
All of the above
Q.37
Which of the following actions showcases the principle of “uberrima fides”?
Lying about known medical conditions on an insurance proposal form
Not revealing known material facts on an insurance proposal form
Disclosing known material facts at the time of taking the policy
Paying premium on time
Q.38
On which of the following does amount of annuity payable depend?
1. Principal sum of money
2. Investment period
3. Rate of return
4. Duration of annuity payments
1 and 2
1, 2 and 3
1, 3 and 4
1, 2 , 3 and 4
Q.39
In which of the following cases is insurable interest not present?
A person insuring his own life
A father taking out a life policy on the life of his son
A person insuring his colleague
An employer taking a life insurance policy on his employees
Q.40
Which of the following statements is correct?
Higher premium will give the beneficiary higher benefits at the time of claim
With lower premium in a life insurance policy, higher benefits are available to the beneficiary in a claim
Higher premium in a life policy will result in lower benefits to the claimant
None of the above
Q.41
Which of the following statements is correct?
An insurance agent has fixed working hours
An insurance agent has to mark his attendance in office every day
An insurance agent works according to his schedule
An insurance agent cannot do any other work
Q.42
At what stage in one’s life will savings make an impact on him?
Post retirement
While he is earning
While he is a student
When he is just married
Q.43
Which of the following consumer grievance redressal agencies would handle consumer disputes amounting between rupees 20 lakh and 100 lakh?
District Forum
State Commission
National Commission
Zila Parishad
Q.44
The date of issue of the FPR indicates
The date when the risk effectively begins
The date when the next premium falls due
The date when the policy will commence
None of the above
Q.45
Which one of the following statements is correct?
In the case of SSS policies, renewal premium receipts are issued
In the case of SSS policies, FPRs are issued
Both the statements above are correct
Both the statements above are wrong
Q.46
Which one of the following statements is correct?
Foreclosure action cannot be taken till a notice is served on the policyholder
When a foreclosure action is taken, nothing is payable to the policyholder
Both the statements above are correct
Both the statements above are wrong
Q.47
Which one of the following statements is correct?
A presumption of death is not the same as proof of death
Presumption of death allows inheritance of property
Both the statements above are correct
Both the statements above are wrong
Q.48
Which one of the following statements is correct?
The foreign exchange regulations apply if the life insured is a non-resident
The foreign exchange regulations apply if the claimant is a non-resident
Both the statements above are correct
Both the statements above are wrong
Q.49
The insurer’s right to reject a claim under a policy is subject to which of the following sections of the Insurance Act, 1938?
Section 38
Section 39
Section 44
Section 45
Q.50
Which of the following funds provides for predominant investment in equities?
Equity fund
Debt fund
Balanced fund
Money market fund
0 h : 0 m : 1 s
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Support mcqgeeks.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page