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Q.1
Which of the following reports would reflect on the lifestyle and habits of a proposer?
Agents confidential reports
Moral hazard report
Both A & B
None of the above
Q.2
When critical illness rider benefit is payable?
When the life insured dies of a critical illness
When the insured is diagnosed with critical illness
When the life insured is diagnosed with a illness not covered under the policy
When the life insured assigns his critical illness rider benefit also in favour of assignee
Q.3
On payment of a rider benefit, what happens to a policy contract?
Ceases
Dies
Cancelled
Continues
Q.4
Maturity claim is payable when _________
When the insured survives the first 5 years
When the insured dies during policy term
When the insured is diagnosed with a critical illness
When the insured survives policy term
Q.5
Which is a death claim?
Early claim
Non-early claim
Both A & B
None of the above
Q.6
Which of the following statements are true about NABARD?
It is a development bank in the sector of Regional Rural Banks in India
It provides and regulates credits in the rural area
It gives assistance for the promotion and development of rural sectors, mainly agriculture
It finances rural crafts
All of these.
Q.7
Which of the following statements are true about Co-operative Banks in India?
It has a three-tier set-up
State Co-operative Banks does not have access to RBI
It is an urban oriented Bank
It functions on sound business principles
Q.8
Which bank is the sponsor of Prathama Gramin Bank?
Bank of Baroda
Indian Bank
Punjab National Bank
Syndicate Bank
Q.9
Which of the following is not a public sector bank in India?
Andhra Bank
Federal Bank
IDBI Bank
Vijaya Bank
Q.10
Which is the first Indian Commercial Bank that was fully owned and managed by Indians?
State Bank of India
Allahabad Bank
Central Bank of India
Canara Bank
Q.11
Which of the following is not an event triggering claim?
Survival
Death
Age
Surrender
Q.12
Which of the following policy, survival benefits are payable?
Whole life
Moneyback
Endowment
Unit Linked
Q.13
In which of the following cases moral hazard could be suspected?
When the age is advanced
Large sum insured disproportionate to income
Both A & B
None of the three
Q.14
Which of the following is not a medical factor that influence an underwrititer’s decision?
Family history
Income
Personal history
Personal characteristics
Q.15
Two measures of a Blood pressure of a person are -
Systolic
Diastolic
Both A & B
None of the above
Q.16
In a Unit Linked plan what is the maturity claim payable?
Sum insured
Sum insured less survival benefits paid already
Nothing is payable
Fund value
Q.17
A claim arising within _________ years of taking a policy is called an Early claim.
One
Two
Three
Four
Q.18
Surrender value is a %age of _________
Human life value
Loan value
Paid up value
Monetary value
Q.19
When special reports would be necessary?
When high sum insured is proposed
When age is advanced
Both A & B
None of the three
Q.20
Which of the following is not a moral hazard?
Taking insurance at advanced age
A proposer with many dependents taking ins
When medical exam is done elsewhere
Proposal on another life without insurable interest
Q.21
Why non-medical underwriting is resorted to ?
To verify the income of the proposer
To save on cost of conducting medical exam
To check the antecedents of a person
To satisfy about the health of the proposer
Q.22
Which is a not a personal characteristics contributing to tendency to disease?
Build
Height
Weight
Need
Q.23
Whose obligation is to pay claim?
Insurer
Insured
Underwriter
Proposer
Q.24
In a Unit Linked plan what is the death claim payable?
Sum insured
Sum insured less survival benefits paid already
Sum insured or fund value which is higher
Fund value
Q.25
When a death claim is payable?
If a policyholder dies after maturity of a policy
If a policyholder dies during the term of policy
If a policyholder dies after surrendering a policy
If insured dies after Foreclosure of a policy
Q.26
Section 45 of Insurance Act, 1938 safeguards the interests of –
Insurers
Policyholders
Assignees
Nominees
Q.27
Surrender value expressed as a percentage of premiums paid is called –
Guaranteed surrender value
Special surrender value
Special revival value
Minimum surrender value
Q.28
Rider benefit is payable subject to policy terms and conditions on the occurrence of a specified _________
Contract
Event
Health
Condition
Q.29
Occupational hazards could emanate from
Accident at work place
Health problems
Moral hazard in a job
All of the above
Q.30
Which of the following is not an hazardous occupation of moral hazard from a job?
Working in a ration shop
Working as a bodyguard to a criminal
Working as a bartender
Working in a night club
Q.31
Under which type of underwriting several conditions are to be followed?
Non-medical underwriting
Medical underwriting
Field underwriting
Financial underwriting
Q.32
Under Non-medical underwriting, which is not a condition to be followed?
Female
Limit in sum insured
Limit in age
Limit in income
Q.33
Characteristics of an individual which impact on risk (hazards) is classified into?
Financial and non-financial hazard
Physical and moral hazard
Philosophical and metaphysical hazard
Standard and non-standard hazard
Q.34
Women have significantly _________ longevity than men
Greater
Lesser
Neither greater nor lesser
Unable to say
Q.35
_________ refers to the ability to perform the promised service dependably and accurately.
Reliability
Responsiveness
Assurance
Empathy
Q.36
Domiciliary Hospitalisation means –
Treatment taken as an Outpatient in an hospital
Treatment taken as an Inpatient in an hospital
Treatment taken both as an Outpatient and as an Inpatient
Treatment taken at home as the patient could not be moved to hospital
Q.37
Out of the following what is the specific provision in a policy?
First Pregnancy clause
General provisions
Policy schedule
Standard provisions
Q.38
Which are the methods to manage risks?
Risk Avoidance
Risk Retention
Risk Reduction
All of the above
Q.39
Risk reduction and control involves steps like -
Education and training
Making environmental changes
Spreading out items to various locations
All of the above
Q.40
Risk Financing includes -
Risk Retention
Risk Transfer
A & B correct
None of the above
Q.41
Risk Retention means
Insuring with an insurance company
Insuring with another individual
Insuring with the owner of the company
Self-insurance
Q.42
Insurance refers to protection against an event that _________ happen whereas Assurance refers to protection against an event that _________ happen.
May, may not
Might, will
Must, need not
Will, will not
Q.43
In insurance , need-gap analysis involves_________
Identifying the areas where the prospect needs insurance protection
Indentifying people to work as insurance agents
Identifying how much assets a prospect has
Identifying the poverty level of the prospects
Q.44
The emergence of which of the following necessitates insurance as a form of security?
Joint family system
Nuclear family system
Both A & B
None of the above
Q.45
Government of India transacts life insurance business in India through which of the following:
LIC of India
GIC of India
Postal Life Insurance
All of the above
Q.46
Which of the following is correct?
Statement A – Insurance reduces burdens
Statement B – Insurance is a system of mutual support.
Statement C – Insurance the only method to manage risks.
A is correct
B is correct
A, B & C correct
A & B correct
Q.47
Which of the following can easily be compensated thro’ insurance?
Primary burden of risk
Secondary burden of risk
Both A & B
None of the above
Q.48
Which of the below statement is correct?
The typical loading to net premium would have 3 parts:- 'a constant amount for premiums, b) a constant amount for each ‘1000 sum assured ’ and c) a constant amount per policy
The typical loading to a net premium would have premiums, parts: a) a percentage of premiums, b) a constant amount for each ‘1000 sum assured ’ and c) a constant amount per policy
The typical loading to a net premium would have 3 parts:- a) a percentage of premiums, b) a constant percentage for each ‘1000 sum assured ’ and 'constant amount per policy
The typical loading to a net premium would have 3 parts:- a) percentage of premiums b) a constant amount for each ‘1000 sum assured ’ and c) a percentage amount per policy
Q.49
In order for the policy to acquire a guaranteed surrender value, for how long must the premium be paid as per law?
Premiums must be paid for least 2consecuitve years
Premiums must be paid for least 3consecuitve years
Premiums must be paid for least 4consecuitve years
Premiums must be paid for least 5consecuitve years
Q.50
What will happen if the policy holder does not pay the premium by the due date and dies during the grace period?
The insurer will consider the policy void due to non- payment of premium by the due date and hence reject claim
The insurer will pay claim and waive off the last unpaid premium
The insurer will pay the claim after deducting the unpaid premium
The insurer will pay the claim after deducting the unpaid premium along with interest which will be taken as 2% above the bank savings interest rate
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