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Quiz 17
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Q.1
In respect of a family floater health policy, which of the following statements is correct?
The total premium payable is less than the total premium payable under non-floater policies
The total premium payable is more than the total premium payable under non-floater policies
Both A & B
None of the above correct
Q.2
Health insurance policy premiums qualify for tax relief under Income Tax Act?
80C
80D
10(10D)
80E
Q.3
Cashless facility means –
Insured need not carry cash on hand and he can settle medical bills thro’ debit card
Insured has to pay bills and take reimbursement later
Hospital (Network provider) would directly get the bills settled by the insurer
None of the above
Q.4
Which is a dilemma of an old age person?
How much old age pension is to be provided
Where to invest the fund
Both A & B
None of the above
Q.5
Which is not a pension related contingency?
Health
Longevity
Inflation
Investment risk
Q.6
Which item of expense is not covered under a typical health insurance cover?
Theatre charges
Blood donation charges
Bed charges
Test reports
Q.7
In which manner Pre-existing illnesses could be covered?
After illness is cured
Before illness is contracted
After illness is diagnosed
After a Waiting period
Q.8
Which one of the following statements is correct?
Health cover policies cover all illnesses without any exclusion whatsoever
There could be a few exclusions like AIDS, STDs, etc
Both A & B
None of the above correct
Q.9
Which is a network hospital?
An hospital enlisted by insurer to provide medical services
An hospital enlisted by TPA to provide medical services
Both A & B
None of the above correct
Q.10
What do you understand by the term ‘Portability’ in so far as it relates to health ins?
Right given to an individual to move from one to another policy of the same co
Right to transfer the policy from one insurer to another insurer or from one to another plan
Both A & B
None of the above correct
Q.11
Under Deferred annuity, the premium has to be paid –
In regular instalments
In lumpsum
Both A & B
None of the above
Q.12
Under Deferred annuity, the time period between its purchase and start of annuity payments is called–
Waiting period
Postponement period
Waiver period
Deferment period
Q.13
Annuities are not classified on the basis of –
How purchased
How often paid
When annuity begins
Profits/Bonus
Q.14
Which one of the following statements is correct?
Annuity would stop strictly with the death of the annuitant
Annuity could be paid to the surviving spouse in case of joint life annuity
Both A & B
None of the above
Q.15
Which is correct?
Health insurance companies do not normally provide Outpatient treatment expenses
Some Health insurance companies do provide Outpatient treatment expenses
Both A & B
None of the above correct
Q.16
As part of Outpatient cover, which are the items that could not be covered?
Dental treatment
Optical services
Health checkups
Surgery
Q.17
Typical health ins. policies may exclude from cover routine expenses related to –
Plastic surgery
Dental treatment
Aesthetic treatment
All of the above
Q.18
If a person does not prefer any claim in an health insurance –
Cover would cease and policy cancelled
Cover would be subject to certain exclusions
Cover would decrease
No claim Bonus allowed for claim-free years
Q.19
Illness/injury for which treatment was required during a pre-determined time is called –
Pre-existing illness
Post-operative illness
Post-paid illnesses
Pre-correctional illnesses
Q.20
What are the 2 distinct phases of a Deferred Annuity?
Waiting & Starting phases
Loading & Unloading phases
Accumulation & Payout phases
Commutation & Continuation phases
Q.21
Which type of Annuity will have 2 distinct phases?
Immediate Annuity
Deferred Annuity
Spouse Annuity
Joint life annuity
Q.22
Which one of the following statement is correct?
Every Annuity is pension
Every Pension is an Annuity
Both A & B
None of the above
Q.23
In a joint life annuity, what would happen to annuity payment if the spouse is to predecease the annuitant?
Annuity would continue
Annuity would cease
A & B correct
None of the above
Q.24
What are the types of Annuities?
Immediate Annuity
Deferred Annuity
Both A & B
None of the three
Q.25
Under Immediate annuity, the premium has to be paid
In regular instalments
In lumpsum
Both A & B
None of the above
Q.26
Which one of the following is correct?
Under Defined Benefit scheme, pension paid was linked to investment performance of fund
Under Defined Contribution scheme, pension paid was not linked to investment performance of the fund
Both A & B
None of the above
Q.27
Who markets personal pension products?
Employers
IRDA
General Insurers
Life Insurers
Q.28
In a Personal pension scheme, who pays Pension to whom?
Pension Provider to Annuitant
Employer to employee
Government to Public
State to its employees
Q.29
A pension scheme in which the employer manages fund through a trust and pays pension thro purchase of an annuity from a life insurance company is called
Uninsured pension scheme
Insured Pension scheme
Both A & B
None of the above
Q.30
Name the deductions made from policyholder of a Unit Linked policy.
Commission
Net Asset Value
Fund
Charges
Q.31
The value of the units of a Unit Linked policy is termed as :
Gross Asset Value
Net Asset Value
Bonus
Guaranteed addition
Q.32
Who provides Occupational pensions?
Insurance companies
Employers
Individuals
State
Q.33
Which is a type of Occupational pension?
Defined Benefit type
Defined contribution type
Both A & B
None of the above
Q.34
In Unit Linked plan, the Fund Value is a product of which of the following:
Gross Asset Value & Net Asset Value
Net Asset Value & Premium
Net Asset Value & Charges
Net Asset Value & No. of Units
Q.35
Why Pensions are said to represent the flip side of life insurance?
Life insurance provides protection against premature death whereas pension covers the contingency of living too long
In life insurance premium payments result in creation of sum assured. In case of pensions, the corpus gets liquidated by regular income payments
Both A & B
None of the above
Q.36
Which one of the following is correct?
Amount of annuity payable is directly proportional to Length of annuity
Amount of annuity payable is inversely proportional to Length of annuity
Both have no correlation
I do not want to attempt this question
Q.37
The facility to withdraw 1/3rd of the accumulated amount at the time of retirement is called
Switching
Commutation
Taxing
Encashment
Q.38
A pension scheme in which the funds are managed by the insurance company is called –
Uninsured pension scheme
Insured Pension scheme
Both A & B
None of the above
Q.39
Which type of Occupational pension has fallen into trouble in recent times:
Defined Benefit type
Defined contribution type
Both A & B
None of the above
Q.40
Employers throughout the world has migrated from _________ _________ to _________ in recent times.
Defined contribution to Defined Benefit
Defined Benefit to Defined Contribution
Both A & B
None of the above
Q.41
What could be the basis for choice of fund in a Unit Linked policy?
Investment need
Risk profile
Both A & B
None of the three
Q.42
With regard to Unit Linked policy, who bears the expense and mortality risk?
Ins. Co.
Policyholder
Agent
IRDA
Q.43
Under Defined Benefit type, the benefit payable is independent of
Contributions
Investment earnings
Both A & B
None of the above
Q.44
Quantum of pension under Defined Benefit type would depend on –
Accrual rate
Salary
Pensionable service
All of the above
Q.45
From the choices mentioned below , select the one cannot be categorized as an annuity
Rs. 2000 received today , Rs 2000 received next year and Rs. 2000 received in 2 years
Electricity Bill
Car payments
Mortgage Payments
Q.46
_________ is a term used to refer pensions that some level of Government administration.
Insurance pension fund
Public pension fund
Private pension fund
Market pension fund
Q.47
Public Pensions are provided by the
Insurance companies
Employers
Individuals
State
Q.48
Public Pensions are funded in the following manner:
Earn as you Go
Take as you go
Spend as you go
Pay as you go
Q.49
Active listening is
Paying close attention to the speaker and occasionally smiling or nodding one’s head
Giving one’s comments on the points raised by the other party
While being attentive to the speaker, giving occasional nod and smile along with feedback
All of the above
Q.50
Defined Contribution scheme is also known as –
Pension purchase scheme
Postpone and purchase scheme
Switch and purchase scheme
Money purchase scheme
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