Q.1
The general need for a pension policy results from the existence of what key problem?
Q.2
Yash pays health insurance premiums for himself, his wife and his two children aged 13 and 8. Premiums for which of these individuals will qualify as deductible from Yash’s taxable income?
Q.3
Insurability of women is governed by
Q.4
Which of the following statements is correct?
Q.5
What are the reason(s) for increase in health insurance in India?
Q.6
The sole focus during a client’s fact-find session was healthcare requirements and estate planning. Which main life stage is the most likely to fall into?
Q.7
Apart from the salary level, what another key feature of Alok’s job is likely to have a major impact on the level of his pension, life insurance, and health insurance needs?
Q.8
Which of the following is not correct with regards to insurable interest?
Q.9
Which of the following options is correct?
Q.10
State the incorrect statement of the following ones.
Q.11
_________ and _________ refer to measures to reduce chance of occurrence and measures to reduce degree of losses.
Q.12
Cost of the risk would _________ with the probability and amount of loss
Q.13
_________ is the maximum amount an insurance company will pay if an insured asset is deemed a total loss.
Q.14
Nikhil is looking for tax-efficient savings methods for his disposable income. He is considering an equity-linked savings scheme, national savings certificates and an endowment insurance policy. Premiums for which of these investments are allowed to be deducted from his taxable income?
Q.15
Which of the following statements is not correct?
Q.16
Insurance works on the principle of
Q.17
Which of the following statements are correct?
i. In order to be insurable, a risk must be capable of statistical estimation.
ii. In insurance, only economic or financial losses can be compensated.
Q.18
Which of the below losses are covered under keyman insurance?
Q.19
The _________ the premium paid by you towards your life insurance, the _________ will be the compensation paid to the beneficiary in the event of your death.
Q.20
_________ means that insurer would assess and compensate only the exact amount of loss.
Q.21
Proximate Cause refer to the _________ cause which set in motion a chain of events producing loss.
Q.22
An investor holds a wide range of shares. If the Reserve Bank of India announces a series of significant interest rate increases, the prices of these shares are most likely to
Q.23
The main purpose of the guaranteed insurability rider benefit is to give the policyholder the right to
Q.24
The amount paid out by the insurer under a 30-year life insurance policy exceeded the sum insured plus revisionary bonuses. The excess is likely to result from?
Q.25
What normally happens to the sum insured under a life insurance policy once the period of the lien expires?
Q.26
The main protection need of a 19-year-old is most likely to be
Q.27
Of 400 houses costing each Rs.20, 000 if on an average 4 houses are damaged in fire causing a total loss of Rs80,000 what should be the annual contribution of each house owner.
Q.28
The losses of a few are shared amongst many through the mechanism of –
Q.29
_________ consists of collecting premiums from numerous individuals to compensate the few who may suffer losses.
Q.30
The changes in healthcare costs over recent years has had what general impact on healthcare insurance?
Q.31
Raunak recently arranged a life insurance policy under which he is classed as the master policyholder. This addresses his role as
Q.32
The need for investment advice from an insurance agent normally results from what overriding key factor?
Q.33
When undertaking financial planning for individuals without capital, what savings need is likely to be addressed in every single case?
Q.34
Naveen is addressing his income needs by investing directly in corporate bonds. In what form will he receive this income?
Q.35
Which policy referring to policies that provide coverage only for the loss caused by the perils?
Q.36
Which of the following statements is correct?
Q.37
Which of the following statements is incorrect?
Q.38
A coverage that protects businesses engaged in electronic commerce from losses caused by hackers is termed as _________
Q.39
Coverage against loss through stealing by individuals not in a position of trust is called _________
Q.40
An insurance contract has to fulfill the requirements of the
Q.41
Term insurance is mainly suitable for which of the following needs?
Q.42
In case of ULIPs, which of the following statements is correct?
Q.43
As per IRDA norms, which of the following non-traditional saving life insurance products are permitted in India?
I. Unit Linked Insurance Plan
II. Variable Insurance Plan
Q.44
What is the set time limit for completing a claim investigation?
Q.45
How is a policy loan different from a commercial loan?
Q.46
Which of the following is incorrect?
Q.47
Ajay pays insurance premium for his employees. Which of the following insurance premiums will not be treated deductible as compensation paid to an employee?
I. Health insurance with benefits payable to an employee
II. Keyman life insurance with benefits payable to Ajay
Q.48
Which of the following statements are false?
I. Policy decisions in an insurance organization mean decisions relating to issue of specific insurance policies.
II. Policy decisions in an insurance organization mean decisions relating to different kind of plans of insurance to be offered to the public.
Q.49
Who is the person that arranges for a customer to get the necessary insurance?
Q.50
In which event(s) does availing cashless facility not require a pre-authorisation from the insurer/TPA?
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