You are on page 1of 98

Question Contributed by_Name Count of S.No Revised syllabus Chapter No.

Reg Team

Revised IC 33 Questi
Total

Summary of IRDA Question Set contribut Chapter Weightage No. Given in Exam Ch 01 Ch 02 Ch 03 Ch 04 Ch 05 Ch 06 Ch 07 Ch 08 Ch 09 Ch 10 Ch 11 Ch 12 Ch 13 Ch 14 Ch 15 Total 6% 6% 18% 8% 4% 10% 8% 6% 4% 8% 8% 2% 4% 4% 4% 100%

Ch 10 Ch 12 Ch 13 Ch 14 Ch 15 Ch 2 ch 3 Ch 4 Ch 5 Ch 6 Ch 7 Ch 8 Ch 1 Ch 11 Ch 9 Grand Total

16 17 23 26 19 29 63 49 42 31 57 29 22 32 19 474

Revised IC 33 Questions

f IRDA Question Set contributed by Regulatory Team Questions/chapter Expected 3 3 9 4 2 5 4 3 2 4 4 1 2 2 2 50 Questions Available in Qbank 22 29 63 49 42 31 57 29 19 16 32 17 23 26 19 474

S.No

Question Contributed by_Name

Date DD/MM/YYY Y

Revised syllabus Chapter No.

1 Reg Team

15/11/11

Ch 2

2 Reg Team 3 Reg Team 4 Reg Team

15/11/11 15/11/11 15/11/11

Ch 8 Ch 8 Ch 2

5 Reg Team

15/11/11

Ch 10

6 Reg Team 7 Reg Team 8 Reg Team

15/11/11 15/11/11 15/11/11

Ch 8 Ch 11 Ch 11

9 Reg Team 10 Reg Team 11 Reg Team

15/11/11 15/11/11 15/11/11

Ch 8 Ch 4 Ch 6

12 Reg Team 13 Reg Team 14 Reg Team

15/11/11 15/11/11 15/11/11

Ch 4 Ch 9 Ch 6

15 Reg Team 16 Reg Team 17 Reg Team

15/11/11 15/11/11 15/11/11

ch 3 Ch 6 Ch 8

18 Reg Team 19 Reg Team 20 Reg Team 21 Reg Team 22 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 2 Ch 11 Ch 2 Ch 1 Ch 6

23 Reg Team

15/11/11

Ch 9

24 Reg Team 25 Reg Team 26 Reg Team 27 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 12 Ch 3 Ch 6 Ch 4

28 Reg Team

15/11/11

Ch 15

29 Reg Team 30 Reg Team

15/11/11 15/11/11

Ch 11 Ch 15

31 Reg Team

15/11/11

Ch 2

32 Reg Team 33 Reg Team

15/11/11 15/11/11

Ch 3 Ch 7

34 Reg Team

15/11/11

Ch 14

35 Reg Team 36 Reg Team 37 Reg Team 38 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 6 Ch 1 Ch 3 Ch 4

39 Reg Team 40 Reg Team

15/11/11 15/11/11

Ch 6 Ch 5

41 Reg Team

15/11/11

Ch 2

42 Reg Team 43 Reg Team

15/11/11 15/11/11

Ch 5 Ch 7

44 Reg Team 45 Reg Team 46 Reg Team 47 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 9 Ch 9 Ch 3 Ch 2

48 Reg Team

15/11/11

ch 3

49 Reg Team 50 Reg Team 51 Reg Team 52 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

ch 3 ch 3 Ch 6 Ch 7

53 Reg Team

15/11/11

Ch 7

54 Reg Team

15/11/11

Ch 7

55 Reg Team 56 Reg Team

15/11/11 15/11/11

Ch 7 Ch 7

57 Reg Team

15/11/11

Ch 7

58 Reg Team 59 Reg Team 60 Reg Team 61 Reg Team 62 Reg Team 63 Reg Team 64 Reg Team 65 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

ch 1 Ch 2 Ch 5 Ch 14 Ch 8 Ch 3 Ch 5 Ch 4

66 Reg Team 67 Reg Team 68 Reg Team

15/11/11 15/11/11 15/11/11

Ch 7 Ch 11 Ch 7

69 Reg Team 70 Reg Team 71 Reg Team 72 Reg Team 73 Reg Team 74 Reg Team 75 Reg Team 76 Reg Team 77 Reg Team 78 Reg Team 79 Reg Team 80 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 13 Ch 11 Ch 12 Ch 7 Ch 13 Ch 11 Ch 14 Ch 14 Ch 6 Ch 7 Ch 3 ch 3

81 Reg Team 82 Reg Team

15/11/11 15/11/11

Ch 14 Ch 13

83 Reg Team

15/11/11

Ch 7

84 Reg Team 85 Reg Team 86 Reg Team 87 Reg Team 88 Reg Team 89 Reg Team 90 Reg Team 91 Reg Team 92 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 15 Ch 7 Ch 6 Ch 3 Ch 3 Ch 5 Ch 2 Ch 4 Ch 4

93 Reg Team 94 Reg Team 95 Reg Team 96 Reg Team 97 Reg Team 98 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 7 Ch 2 Ch 6 Ch 5 Ch 12 Ch 4

99 Reg Team 100 Reg Team 101 Reg Team 102 Reg Team 103 Reg Team 104 Reg Team 105 Reg Team 106 Reg Team 107 Reg Team 108 Reg Team 109 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 5 Ch 14 Ch 7 Ch 7 Ch 3 Ch 4 Ch 5 Ch 4 ch 3 Ch 4 Ch 4

110 Reg Team 111 Reg Team

15/11/11 15/11/11

Ch 3 Ch 2

112 Reg Team

15/11/11

Ch 14

113 Reg Team 114 Reg Team

15/11/11 15/11/11

Ch 14 Ch 13

115 Reg Team

15/11/11

Ch 5

116 Reg Team 117 Reg Team 118 Reg Team 119 Reg Team 120 Reg Team 121 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 6 Ch 5 Ch 9 Ch 5 Ch 5 Ch 11

122 Reg Team 123 Reg Team

15/11/11 15/11/11

Ch 5 ch 1

124 Reg Team

15/11/11

Ch 7

125 Reg Team 126 Reg Team 127 Reg Team 128 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 4 Ch 14 Ch 5 Ch 7

129 Reg Team 130 Reg Team

15/11/11 15/11/11

Ch 13 Ch 5

131 Reg Team 132 Reg Team 133 Reg Team 134 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 15 Ch 6 Ch 3 Ch 2

135 Reg Team 136 Reg Team

15/11/11 15/11/11

Ch 14 Ch 13

137 Reg Team

15/11/11

Ch 5

138 Reg Team

15/11/11

Ch 7

139 Reg Team

15/11/11

Ch 7

140 Reg Team

15/11/11

Ch 8

141 Reg Team 142 Reg Team 143 Reg Team 144 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 13 Ch 7 Ch 2 Ch 11

145 Reg Team 146 Reg Team

15/11/11 15/11/11

Ch 13 Ch 4

147 Reg Team

15/11/11

Ch 5

148 Reg Team

15/11/11

Ch 15

149 Reg Team 150 Reg Team

15/11/11 15/11/11

Ch 7 Ch 3

151 Reg Team 152 Reg Team 153 Reg Team

15/11/11 15/11/11 15/11/11

Ch 2 Ch 10 Ch 14

154 Reg Team 155 Reg Team 156 Reg Team 157 Reg Team 158 Reg Team 159 Reg Team 160 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 11 Ch 6 Ch 5 Ch 3 Ch 3 Ch 1 Ch 5

161 Reg Team 162 Reg Team

15/11/11 15/11/11

Ch 7 ch 1

163 Reg Team

15/11/11

Ch 10

164 Reg Team

15/11/11

Ch 7

165 Reg Team 166 Reg Team 167 Reg Team

15/11/11 15/11/11 15/11/11

Ch 14 Ch 10 Ch 4

168 Reg Team

15/11/11

ch 3

169 Reg Team 170 Reg Team

15/11/11 15/11/11

Ch 5 Ch 5

171 Reg Team 172 Reg Team

15/11/11 15/11/11

Ch 6 Ch 5

173 Reg Team 174 Reg Team 176 Reg Team 177 Reg Team 178 179 180 181 Reg Team Reg Team Reg Team Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 11 Ch 2 Ch 4 Ch 5 Ch 5 Ch 8 Ch 8 Ch 2 Ch 8 Ch 9 Ch 3 Ch 12 Ch 1 Ch 12 Ch 12

182 Reg Team 183 Reg Team 184 Reg Team 185 Reg Team 186 Reg Team 187 Reg Team 188 Reg Team

189 Reg Team 190 Reg Team

15/11/11 15/11/11

Ch 14 Ch 5

191 Reg Team 192 Reg Team

15/11/11 15/11/11

Ch 3 Ch 8

193 Reg Team 194 Reg Team

15/11/11 15/11/11

Ch 2 Ch 10

195 Reg Team

15/11/11

Ch 11

196 Reg Team

15/11/11

Ch 9

197 Reg Team 198 199 200 201 Reg Team Reg Team Reg Team Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 5 Ch 3 Ch 14 Ch 1 Ch 1 Ch 6 Ch 5 Ch 14 Ch 4 Ch 2 Ch 4 Ch 15 Ch 15

202 Reg Team 203 Reg Team 204 Reg Team 205 Reg Team 206 Reg Team 207 Reg Team 208 Reg Team 209 Reg Team

210 Reg Team

15/11/11

Ch 7

211 Reg Team

15/11/11

Ch 7

212 Reg Team 213 Reg Team 214 Reg Team 215 Reg Team 216 Reg Team 217 Reg Team 218 Reg Team 219 Reg Team 220 Reg Team 221 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 9 Ch 6 Ch 7 Ch 4 Ch 7 Ch 4 Ch 7 Ch 4 Ch 12 Ch 6

222 Reg Team

15/11/11

Ch 13

223 Reg Team 224 Reg Team 225 Reg Team 226 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 7 Ch 3 Ch 15 Ch 8

227 Reg Team

15/11/11

ch 1

228 229 230 231

Reg Team Reg Team Reg Team Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

ch 1 Ch 2 Ch 2 Ch 2

232 Reg Team

15/11/11

ch 1

233 Reg Team

15/11/11

Ch 4

234 Reg Team

15/11/11

Ch 3

235 Reg Team 236 Reg Team 237 Reg Team 238 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 3 Ch 3 Ch 4 Ch 3

239 Reg Team

15/11/11

Ch 3

240 Reg Team 241 Reg Team 242 Reg Team

15/11/11 15/11/11 15/11/11

Ch 5 Ch 4 Ch 4

243 Reg Team

15/11/11

Ch 4

244 Reg Team

15/11/11

Ch 3

245 Reg Team 246 Reg Team 247 Reg Team

15/11/11 15/11/11 15/11/11

Ch 5 Ch 5 Ch 5

248 Reg Team 249 Reg Team

15/11/11 15/11/11

Ch 6 Ch 6

250 Reg Team 251 Reg Team

15/11/11 15/11/11

Ch 6 Ch 5

252 Reg Team 253 Reg Team 254 Reg Team

15/11/11 15/11/11 15/11/11

Ch 7 Ch 7 Ch 7

255 Reg Team

15/11/11

Ch 7

256 Reg Team 257 Reg Team

15/11/11 15/11/11

Ch 9 Ch 9

258 Reg Team

15/11/11

Ch 8

259 Reg Team 260 Reg Team 261 Reg Team

15/11/11 15/11/11 15/11/11

Ch 8 Ch 12 Ch 12

262 Reg Team 263 Reg Team

15/11/11 15/11/11

Ch 15 Ch 1

264 Reg Team

15/11/11

Ch 10

265 Reg Team 266 Reg Team

15/11/11 15/11/11

Ch 11 Ch 11

267 Reg Team 268 Reg Team 269 Reg Team 270 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 11 Ch 11 Ch 12 Ch 13

271 Reg Team 272 Reg Team

15/11/11 15/11/11

Ch 13 Ch 14

273 Reg Team

15/11/11

Ch 14

274 Reg Team

15/11/11

Ch 15

275 Reg Team 276 Reg Team 277 Reg Team 278 Reg Team 279 Reg Team 280 Reg Team 281 Reg Team 282 Reg Team 283 Reg Team 284 Reg Team 285 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 15 Ch 2 Ch 1 Ch 3 Ch 2 Ch 1 Ch 1 ch 3 Ch 1 ch 3 ch 3

286 Reg Team

15/11/11

Ch 4

287 Reg Team

15/11/11

Ch 3

288 Reg Team

15/11/11

Ch 3

289 Reg Team

15/11/11

Ch 3

290 Reg Team 291 Reg Team 292 Reg Team 293 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 3 Ch 4 Ch 4 Ch 4

294 Reg Team 295 Reg Team 296 Reg Team

15/11/11 15/11/11 15/11/11

Ch 4 Ch 5 Ch 5

297 Reg Team 298 Reg Team 299 Reg Team 300 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 8 Ch 8 Ch 6 Ch 5

301 Reg Team

15/11/11

Ch 6

302 Reg Team

15/11/11

Ch 7

303 Reg Team 304 Reg Team

15/11/11 15/11/11

Ch 7 Ch 7

305 Reg Team 306 Reg Team

15/11/11 15/11/11

Ch 7 Ch 8

307 Reg Team

15/11/11

Ch 8

308 Reg Team 309 Reg Team

15/11/11 15/11/11

Ch 8 Ch 8

310 Reg Team

15/11/11

Ch 9

311 Reg Team 312 Reg Team 313 Reg Team 314 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 12 Ch 15 Ch 13 Ch 12

315 Reg Team 316 Reg Team 317 Reg Team

15/11/11 15/11/11 15/11/11

Ch 11 Ch 11 Ch 11

318 Reg Team 319 Reg Team 320 Reg Team 321 Reg Team 322 Reg Team 323 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 11 Ch 13 Ch 13 Ch 13 Ch 14 Ch 14

324 Reg Team 325 Reg Team

15/11/11 15/11/11

Ch 15 Ch 15

326 Reg Team

15/11/11

Ch 2

327 Reg Team

15/11/11

Ch 8

328 Reg Team

15/11/11

Ch 9

329 Reg Team

15/11/11

Ch 4

330 Reg Team

15/11/11

Ch 4

331 Reg Team

15/11/11

Ch 2

332 Reg Team

15/11/11

ch 3

333 Reg Team

15/11/11

Ch 10

334 Reg Team

15/11/11

ch 3

335 Reg Team

15/11/11

Ch 5

336 Reg Team

15/11/11

ch 3

337 Reg Team

15/11/11

Ch 11

338 Reg Team

15/11/11

Ch 3

339 Reg Team

15/11/11

Ch 3

340 Reg Team

15/11/11

Ch 4

341 Reg Team

15/11/11

Ch 4

342 Reg Team 343 Reg Team 344 Reg Team

15/11/11 15/11/11 15/11/11

Ch 4 Ch 4 Ch 4

345 Reg Team 346 Reg Team 347 Reg Team 348 Reg Team 349 Reg Team 350 Reg Team 351 Reg Team 352 Reg Team 353 Reg Team 354 Reg Team 355 Reg Team 356 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 5 Ch 5 Ch 7 Ch 7 Ch 6 Ch 13 Ch 6 Ch 7 Ch 7 Ch 7 Ch 7 Ch 8

357 Reg Team 358 Reg Team

15/11/11 15/11/11

Ch 3 Ch 9

359 Reg Team

15/11/11

Ch 9

360 Reg Team

15/11/11

Ch 9

361 Reg Team

15/11/11

Ch 12

362 Reg Team

15/11/11

Ch 10

363 Reg Team

15/11/11

Ch 4

364 Reg Team

15/11/11

Ch 15

365 Reg Team

15/11/11

Ch 11

366 Reg Team

15/11/11

Ch 14

367 Reg Team

15/11/11

Ch 11

368 Reg Team

15/11/11

Ch 11

369 Reg Team

15/11/11

Ch 13

370 Reg Team

15/11/11

Ch 13

371 Reg Team 372 Reg Team

15/11/11 15/11/11

Ch 12 Ch 14

373 Reg Team

15/11/11

Ch 14

374 Reg Team

15/11/11

Ch 13

375 Reg Team

15/11/11

Ch 13

376 Reg Team 377 Reg Team 378 Reg Team 379 Reg Team 380 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 8 ch 7 ch 15 ch 1 ch 2

381 Reg Team

15/11/11

ch 1

382 Reg Team

15/11/11

ch 3

383 Reg Team

15/11/11

ch 4

384 Reg Team 385 Reg Team

15/11/11 15/11/11

ch 3 ch 3

386 Reg Team

15/11/11

ch 3

387 Reg Team

15/11/11

ch 3

388 Reg Team 389 Reg Team

15/11/11 15/11/11

ch 4 ch 3

390 Reg Team

15/11/11

ch 3

391 Reg Team 392 Reg Team 393 Reg Team

15/11/11 15/11/11 15/11/11

ch 4 ch 4 ch 4

394 Reg Team 395 Reg Team 396 Reg Team 397 Reg Team 398 Reg Team 399 Reg Team 400 Reg Team 401 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

ch 5 ch 5 ch 7 ch 7 Ch 8 ch 7 Ch 8 ch 6

402 Reg Team

15/11/11

ch 7

403 Reg Team 404 Reg Team

15/11/11 15/11/11

ch 7 ch 7

405 Reg Team 406 Reg Team

15/11/11 15/11/11

ch 7 ch 9

407 Reg Team

15/11/11

Ch 8

408 Reg Team

15/11/11

ch 10

409 Reg Team

15/11/11

ch 9

410 Reg Team

15/11/11

ch 4

411 Reg Team

15/11/11

ch 11

412 Reg Team

15/11/11

ch 10

413 Reg Team 414 Reg Team 415 Reg Team

15/11/11 15/11/11 15/11/11

ch 3 ch 10 ch 11

416 Reg Team 417 Reg Team

15/11/11 15/11/11

ch 11 ch 11

418 Reg Team 419 Reg Team 420 Reg Team 421 Reg Team 422 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

ch 3 ch 12 ch 12 ch 13 Ch 14

423 Reg Team

15/11/11

Ch 14

424 Reg Team

15/11/11

ch 10

425 Reg Team 426 Reg Team 427 Reg Team 428 Reg Team 429 Reg Team 430 Reg Team 431 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

ch 15 Ch 1 Ch 1 Ch 1 Ch 2 Ch 2 Ch 2

432 Reg Team

15/11/11

Ch 3

433 Reg Team 434 Reg Team 435 Reg Team 436 Reg Team 437 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 3 Ch 3 Ch 3 Ch 3 Ch 3

438 Reg Team

15/11/11

Ch 3

439 Reg Team 440 Reg Team 441 Reg Team 442 Reg Team 443 Reg Team 444 Reg Team 445 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 3 Ch 3 Ch 4 Ch 4 Ch 4 Ch 4 Ch 5

446 Reg Team 447 Reg Team 448 Reg Team 449 Reg Team 450 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11 15/11/11

Ch 5 Ch 6 Ch 6 Ch 6 Ch 6

451 Reg Team

15/11/11

Ch 6

452 Reg Team 453 Reg Team

15/11/11 15/11/11

Ch 7 Ch 7

454 Reg Team

15/11/11

Ch 7

455 Reg Team

15/11/11

Ch 7

456 Reg Team 457 Reg Team

15/11/11 15/11/11

Ch 8 Ch 8

458 Reg Team

15/11/11

Ch 8

459 Reg Team 460 Reg Team 461 Reg Team 462 Reg Team

15/11/11 15/11/11 15/11/11 15/11/11

Ch 9 Ch 9 Ch 10 Ch 10

463 Reg Team

15/11/11

Ch 10

464 Reg Team

15/11/11

Ch 10

465 Reg Team

15/11/11

Ch 11

466 Reg Team

15/11/11

Ch 11

467 Reg Team 468 Reg Team 469 Reg Team

15/11/11 15/11/11 15/11/11

Ch 11 Ch 11 Ch 12

470 Reg Team 471 Reg Team

15/11/11 15/11/11

Ch 13 Ch 13

472 Reg Team 473 Reg Team 474 Reg Team

15/11/11 15/11/11 15/11/11

Ch 14 Ch 14 Ch 15

475 Reg Team

15/11/11

Ch 15

Question

How are perils and hazards normally distinguished under term insurance policies?

In the context of financial planning, how is the difference between real needs and perceived needs best described? If a person is concentrating more on health plan and retirement plan then at which stage of life is he in. The Institute of insurance and risk management along with insurance education does what more If the client does not wish to proceed with the recommendations right at the moment the agent should Suresh has adequate reserve capital with him and he wishes to protect his income, moreover he feels that if he does not die then he would need the amount. What type of plan should he opt for? A claim was paid in a policy and it was advertised in the newspaper also. This indicates that the policy was. An indemnity bond was signed in a policy when the claim was paid. This indicates that the policy was. Manish and Manisha is a married couple with one child. They want to plan for savings, child education/marriage and their retirement and protection of income. Which should be their lowest priority? While calculating HLV along with future income, no of years of work, increments in salary what is also to be taken in to account? If RBI increases the interest rates then what will be the effect on share prices. Vishal and sandeep applied for a health plan in XYZ Life Insurance Company. Vishal is asked to undergo a medical checkup but Sandeep is not asked to do so. What will be most possible reason? During fact finding, What will be the next step after Identifying clients need What is purpose of investing money in debt mutual fund? Mr. shailsh has an endowment policy with 30 years policy term, he has paid for eight years. The sum assured Rs.8,00,000/- and accumulated bonus Rs.60,000/-. What is the paid up value? What is the similarity between Recurring Deposits & cumulative deposits in a bank Mrs. Sheela received some amount out of her husbands death. In such a situation what will be her prime focus?

Mr. Kunal used to participate in Car race. While taking up the Insurance policy he disclosed this information. What kind of hazard does it refers to Which of the following falls under voidable contract? Law of large numbers is worked out by which of the following? If a client wants to compare between all financial products then the best person he can approach is If a person want to maintain emergency funds the best place is a bank or During a fact finding process the need analyzed were income replacement and childrens education. But the customer insists on only a child plan for the time being and asks the agent to give him a child plan. The agent should.

If a case is already before the consumer forum, then the ombudsman should If the sum assured remains the same, what will be impact of net premium if the age of the policyholder increases What is the advantage of converting physical gold assets to gold ETFs. For which of the following reasons, the underwriter should ask beyond agents confidential report. After doing the need analysis of the client, the agent advised the client to opt for TROP product. But the client refused. According to ethical business practices what will the agent do ? Generally insurance companies do not hold the premium in case of a fraud or misrepresentation. However, due to which of the following circumstances the insurer can retain the premium of the policyholder According to IRDA agents code of conduct, what is the best method of showing the amount of commission earned by the advisor With pooling of risks an insurance company pools the premium collected from several individuals to insure them against similar risks. At what circumstances will the insurance companies pool the risk of a life insurance and health insurance together? In case the customer has stopped making payment for the premium of the policy. What are the two most important things required in order to reinstate the policy? If the customer has invested money in a pension plan from company A and buys an annuity from company B, what is the nature of transaction? If a policy holder buys a policy from the advisor and lodges a complaint, it should be treated as : 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 In life insurance business if a person is working in calculating premium rates of insurance products, then he is mostly likely a member of In a life insurance policy it is later found that the person doesnt have insurable interest then the contract is If both parents of proposer died in their thirties due to heart attack what is the kind of peril or hazard the proposer has?

Raunak earns 80,000 per month as salary. He has taken a House loan of Rs. 500000. What will be the maximum amount of EMI that can be charged by the Bank to recover the loan amount? Frequent switching is not advisable in ULIP plan because it increase

According to insurance terminology which of the following is correct? An insurance agent sold two policies to two different persons having the same policy term. He declares the commission to each of them. The commission of one of the policy is more than the other. What should be the reasons for this difference? Open market option under Annuity policy would extend which of the following benefit? Akash is an Unmarried person and employed with company ABC and drawing a handsome salary. He has no liabilities. What kind of plan can be suggested to him? What should an agent do in order to understand the mental state of client in respect to his investments in saving products Net premium is equal to

Pooling of risk in insurance means

Principle of utmost good faith will operate in existing policy Both the parties to a contract must agree and understand the same thing and in the same sense which is called In case of life insurance, Insurable interest must exist With this type of deposit the bank pays the principal and the total interest at the end of the term.

The Premium on all riders put together should not exceed

How riders will help the customer in life insurance?

In Daily hospitalization cash benefit scheme, A lump sum withdrawal allowed as commutation in pension plans is

Customer has opted for a 5 yrs guaranteed annuity option. What will happen to annuity, if the customer survives for 5 years after the end of guarantee period? In term insurance if Critical illness rider claim happens then what will happen to existing policy What is the main objective of taking the life insurance policy? If person consumes alcohol- what is the type of hazard? Group Insurance can be taken in following relationship Where one can approach in case of dispute? Life insurance is the most important for which age group Where annually increasing flexible premiums operate under a life insurance policy, what rate of increase will generally apply? Kamal is willing to pay 60000/- per annum for his ULIP policy. What should be the SA in case he wants to avail the tax benefits? The regulations issued by the IRDA, require that the decision on the proposal must be conveyed to the proposer within Family floater health Insurance plan covers According to IRDA guidelines, how long does an insurance company have to complete its investigation of a claim?

How the Daily hospitalization cash benefit will provide benefits to policyholder who is hospitalized? Who is a regulator, supervisor and monetary authority of the financial system in India? Indisputability clause can be enforced by the insurance company during the To ensure that the premiums are paid out of a legitimate source of funds cash is accepted If there is no claim in a year than what will be the benefit to the customer as NO CLAIM BONUS An individual is said to be competent to enter into a contract if they are Maximum time for investigation in disputed claim? The Ombudsmans powers are restricted to insurance contracts of value not exceeding? In which section of Policy document, Information about the location of the insurance Ombudsman had written? In Cumulative bank deposit the interest that in normally compounded on what basis. The premium for accidental death benefit rider must not exceed If the annual premium for a plan is 32000 and a frequency loading of 4% is added in a quarterly premium what is the amount that needs to be paid.

What amount of insurable interest does an individual have in his own life? Ombudsman passes an award within which time

If the license of an agent has been disqualified by a designated authority in 2010 then the person can apply for a license in which year.

Under the hospital care rider what is the payout made If the agent recommends the client to terminate an endowment plan and take a whole life in order to earn higher commission its termed as Mr. Denny is married and has 2 children and his parents are alive. He has taken a family floater plan. Under the plan who all will be covered. Amit has taken a G-Sec and has parted with it mid way as he required the money with the intention of not getting the interest. What will he get? If bonus is given under a plan the additional premium added is known as Nomination can be in favor of how many people? Suresh is suffering from Asthma and the policy is been done on joint life basis and the need for nomination under the plan will be as What key impact will the agent have in low persistency Within how many days will the underwriter needs to inform the policyholder regarding the status of the policy.

Certificate from the village panchayat What is the maximum sum assured under a micro insurance Varun wishes to pursue a career in insurance and wishes to be in a department which calculates the level of premium. In which department should he join? If Naresh wishes to take the tax benefit of the full premium paid which is 60000, what amount of sum assured should he avail in a ULIP plan. Ashish is looking at different plans of insurance for protection at the lowest premium. Which is the best plan for him? The insurance act of 1938 created which of these. Ashu is an illiterate person and his proposal form was filled by Nishu, then what is the additional requirement to be taken along with the documents. Harshs policy matured, however he was paid only 25% of the sum insured in spite of all his premiums been paid on time. This indicates that his policy is a The Authority of COPA is limited to what amount at the district level. In case of a term plan the maximum premium of the accidental rider can be. In case of a term plan the maximum premium of the accidental rider can be. With reference to the principle of indemnity a life insurance policy is a. In the personal statement, Harish declares that he consumes alcohol twice every week. This is a Micro insurance is made specifically for people from. The reduction in the benefit illustration shows what. If Insurable interest does not exists at the time of inception of the life insurance policy then, life insurance contract is If a contract is signed by a 15 years old boy, this contract will be

If a life insurance policy is issued with a lien, it will be mention in Available Loan amount under a life Insurance policy is generally based on

De- tarrification is a process by which pricing of Insurance As per Regulation for protection of Policyholders interest 2002 (IRDA), Which insurer will have a grievance redressal System Which body has created a call center for logging a complaint

What is the key function of NIA After maturity In a Unit Linked Life Insurance Policy, customer does not get received Maturity in a lump sum. What is the possibility of receiving it in installments if it is not a annuity plan Gautam wants to purchase a Kisan Vikas Patra. What is the most suitable place to purchase it Anand received post taxation 5% return on his fixed deposit in a bank. If his net return is 3%, what can be the reason During Fact finding, rating is mentioned 3. This Indicates Raunak wants to purchase a cheapest plan which can provide financial security to his dependent. Which plan should be offered For tax Saving Someone wants to fixed deposit in bank. What duration is required for it?

Incase of presumption of death If insured gets the two advance payment in the 5yrs and in the maturity he gets rest of sum assured. What type of policy it is

Which is correct in relation to Insurance Broker? Shailesh and ankit want to retire in the age of 65yrs. But shailesh pays more monthly payment than ankit for same amount of policy. Why? What will be lien amount in 3rd year as compared to the 4th year of lien. Within how many years a complaint can be made through consumer protection act. In which plan weekly premium payments are accepted. One person wants to take term plan for 20 lakh and wants to take ADB rider, he is not sure of how much sum assured he needs to take for ADB rider. What is your suggestion? Basing on which criteria the qualification of Agent is determined?

Which tax rate is applicable, in case of Client pays the premium of 5000/- and suffers illness before maturity? A customer surrenders his policy on Feb 2010 As per Agents code of conduct, an agent can get a new policy from this customer from Feb which year If we hold 100 units in gold ETF, It means that how much grams we have in physical In case of life insurance, the insurable interest should exist

Pooling of insurance applies to Insurance companies are required to honor the awards passed by the Insurance Ombudsman within how may days

If IRDA is unable to discharge its functions or duties, Central Government An elderly person wants to use tax efficient investment and invests in senior citizen saving scheme. Its the impact in his taxation

What are the benefits to the policyholder Under Surgical care rider? Health insurance policy holder takes treatment in a hospital which doesnt have cashless facility. How the policy holder will get benefited During financial planning session if the agent finds out the following needs, which one should be given the top priority. Needs: Income protection, Childs education, marriage and emergency funds. National insurance academy has the following main functions Health insurance rider and critical illness rider in classified under Pure risk is classified under If a valid claim is delayed by the insurer then the interest for the same will have to be paid by the insurance after how many days from the date of admission of the claim? As per IRDA regulations IGMS should be mandatory set up by If a customer has mentioned he is a drinker in the proposal form, the insurance company can exclude this hazard and mention it in which part of the policy document?

When can an insurance company give more than 35% first year commission? When should an agent disclose the commission which he will earn from the product which he is going to sell In a pension plan illustration what are the parts which shows the benefit for an annuitant.

Mr. shailsh has an endowment policy with 30 years policy term, he has paid for eight years. The sum assured Rs.8,00,000/- and accumulated bonus Rs.60,000/-. What is the paid up value if bonus accumulated and if not bonus accumulated? The consequences of these risks which will affect specific individuals or local communities in nature is called as What is the disadvantage to the insurer in case the persistency falls For the customer whose claim has been refused by the company, the three places where he/she should follow up are Ombudsman, IRDA Customer Grievance Cell and .. If a policy with premium of Rs 5000 has matured, how much will be deducted when the maturity claim arises When a person is investing in Debt Mutual Fund, what is the primary objective If the employer has insurable interest in the life of an employee, what kind of policy is this? In the sales illustration, the reduction of the actual benefit amount is mainly due to deduction of The concept of indemnity is based on the key principle that policyholders should be prevented from The client of reinsurer are A customer gets periodic benefits without any claim and then when he dies during the term of the policy, his nominees gets the sum insured. What type of policy is this ? For assessing the risk of a group health insurance policy, which of the following information is the most critical

According to Insurance Brokers Association of India, what is the most appropriate relationship between Insurer and Broker?

A low persistency ratio for the insurance company means that: For annuity plans, before receiving regular/periodic annuity payments, the individual can make a lump sum withdrawal. This is known as commutation. Up to what proportion of the accumulated fund can be withdrawn? What is the stipulated time frame within which an insurer is supposed to respond after receiving any communication from its policyholders? For an insurance agent, a low persistency ratio means : The proposer can withdraw from the contract, if they disagree with the terms and conditions of the Policy, within a free look-in period of

In the case of life insurance, insurable interest should exist In which of the following plan remaining part of the Sum Assured is paid on maturity?

Rakesh wants to buy a policy primarily for Risk Cover but at the end of the term he wants to get at least some return. Under which policy he will get these benefits Payment/Investments in Kishan Vikash Patra under post office schemes is done Prashant buys an Endowment Plan with a sum assured of Re. 100000 and wants to make use of tax benefit under the policy for whole SA. How much premium would help him avail this benefit Under the IRDA guidelines for Claim settlement, any queries or additional documents can asked from the claimant within Law of Large number helps the insures to A person with a criminal background due to Financial fraud would come under which hazard Whose signature is required on attestation of the policy? What is the ceiling of tax exemption under 80 c. What is the limit of tax benefit that can be availed of under Section 80C.? Mr. Shyam is having 9 year old child. Which product is not to be given priority? Mr. Raj is married and having 2 children. Which plan can he take that can cover his whole family? Which is the best option to manage risk? What is the major reason for self employed to take insurance. What is the major reason for conducting fact finding exercise? If 5% bonus is given every year then for a SA of 1 lakh, what will be the payout after 15 years in a simple revisionary bonus system? The guidelines for annual assumed growth rate are given by Pricing element is done by AML Program of every insurer to include _______________, apart from Procedure, Training and audit. Payment of premiums by cash cannot exceed ____________ . Ravi was expecting a claim amount of Rs. 12, 00,000 from insurer. But it was rejected. He feels that it is repudiated on wrong reasons. Which consumer forum can he approach? Under section 80C the maximum tax deduction that can be gained for premium paid is _______ in a financial year. Vijay received his policy bond on 11th June, 201 Due to some personal problems he has decided to cancel the policy on 8th July, 201 Can he cancel or return the policy? Naresh is married and his daughter Sneha is 3 years old. Which plan can he take? Vinay doesnt want to take insurance on himself. He feels that his family will survive with the funds available in the bank and monthly rentals received from village. This comes under Risk ______

Naveen, aged 32 years, has taken money back plan. He is a teacher by profession. Naveen referred Prasad to Ram. Prasad is also teacher. Ram who is an agent advised Prasad to take money back plan as he is of same age (33 years). Is it the right advice? Why? Ajay has bought an endowment insurance plan with a cover of Rs. 10, 00,000 for a term of 15 years. Ajay died after 4 years. Insurance company will not treat this claim as ________ claim. Rajesh is 34 years old and having 2 sons, Vineeth and Sumith. The level of risk appetite, Rajesh belongs is _______. What is the minimum Sum Assured allowed for Micro Insurance? How many days does the Free Look Period last? The Ombudsmans powers are restricted to insurance contracts of what value? Under current regulations what is the maximum stake that the Foreign Partner in Insurance Company hold? What does MDRT Stand for? Where would you have to go if you wanted to buy a Kisan Vikas Patra? What is the limit of tax benefit that can be availed of under Section 80C? Ombudsman has to give his decision within how many days? In a case, the underwriter felt that the risk associated with the person would decrease with time, then he would accept the case with A person suffering from lung cancer is a smoker. Here smoking can be termed as Which of the following is a Non Standard Age Proof Venu, aged, 32, had a Insurance cover of 10, 00,000/- . He was approached by an advisor who made some analysis and told him that his Insurance need is higher than 10, 00,000 and suggested that he surrenders the existing policy and buys a new one. This is an example of If the recommendation of the agent has been rejected by the client, the agent should:

Which of the following is true regarding Family Floater Health Insurance Plan? In what proportion is the cover in a Family Floater Plan shared? To identify suitable products their main features and their tax treatments is the role of: In Cumulative Deposits the interest is normally compounded in a The rider which is given by the Insurance company pays for the treatment costs in the event of hospitalization of the insured person is called Age proof submitted from Village Panchayat is: Mr. X is married with wife, 2 children and aged parents Health premium is allowed for Maximum Life cover As per AML regulation, it allows cash premium not over than Bank interest is accumulated

_____ controls monetary system in India

Hospitalization rider has the following benefit: Total annual premium Rs 32000 quarterly loading done 4 %. Hence actual quarterly premium will be License of an agent was withdrawn in June 2010 due to malpractice. He can reapply for his license in A Professional insurance market carries..

Insurance Market divided into

What is Bancassurance? The Risk contains. Grouping the similar risks by Insurance Company is called as. The function of Insurance works on..

A contract comes into existence when Mr. Kumars wife is suffering from blood cancer. Doctors lost their hope on her live. Mr. Kumar would like to take Life Insurance policy on wifes name in order to get monitory benefit. Insurance company rejects this proposal on the grounds of.

Under this situation may leads to breach of the duty of utmost good faith.

Principle of Indemnity denotes.. The principle of utmost good faith is not applicable to What is the main source for insurance company to get information of proposer? What are the factors involved in calculating Surrender Value of the Policy?

What are the different types of Assignments?

Mr. Kumar is taken one life insurance policy with ABC Company. But he is not satisfied with the policy benefits. What Mr. Kumar can do under this situation? Moral Hazard reflects the . Income replacement methods equates Human Life Value (HLV) to

Agent will be called as.. Mr. Rajesh has taken policy from ABC insurance company for Rs. 500000 Sum Assured by paying Rs. 50,000 premium per year. Company declared 5% Simple Reversionary bonus, what is bonus amount?

The two basic elements of most life insurance plans are Term Insurance Plan will give. Low risk products give..

Who will maintain Mutual Fund Schemes? Which is the primary saving need among all saving needs? Mr. Rao has Rs. 10, 00,000 cash with him. He would like to use this amount for his daughters marriage which is going to happen with in Nine months. He would like to get some returns from this money in these 9 months period. What is the best option to park his money? Which of the following product not comes under Section 80 ( C ), income tax act 196 Mr. Suresh purchase one pension plan and accumulated Rs. 9,00,000 amount in his pension fund. He would like to utilize commutation benefit before taking pension. What is amount Mr. Suresh can withdraw as commutation? Customer has to pay the amount in regular intervals to create purchase price or Pension Fund. We call this phase as.. Some Health Plans will give coverage for family members also. We will call these plans as.. Mr. Hitesh would like to get health coverage along with Life Insurance. What are the options available to Mr. Hitesh to fulfill his need with a little cost? Mr. Govind, Advisor with ABC life insurance company find out one client is seeking solutions for health care and inheritance planning. Which main life stage he most likely to fall into? Which type of questioning is very useful to gather information from clients?

Perceived needs are those.

Need analysis involves identifying Which is the not part of KYC norms? Remuneration to Agents includes Mr. Gayaram, Advisor who advised the customer to close the old policy and take new one. But new policy does not have any extra benefits but it will give more commission to Mr. Gayaram. This is called as An insurance agent is intermediary between.

What is the factor which has influence on persistency?

What is meant by a claim under insurance policy? Who will take the initiation to settle the maturity claim process?

Which is the right statement regarding claim enquiry? A missing person will be presumed to be dead only after. Which is the 2 stage in Money Laundering? What is the maximum stake can foreign company has in one insurance company in India? Who controls and regulate the rates, advantages, terms and conditions that may be offered by insurers in the respect of general insurance business. How many ombudsmen offices located in India? What the name of department that is established by IRDA to deal with customer complaints?
nd

Ethics can be defined as

Which is not unethical behavior in below statements? Mr. Mahesh is a software engineer. He has taken a term insurance for Rs. 30,000,00/for 30 years. This is an example for----------------Which of the following do not include the channel of indirect marketing? In an insurance contract the insurable interest needs to be at the time of .... Which of the following can be an example of moral hazard? The business of Insurance is connected with................ Human beings need life insurance because.................. In an insurance contract 'consideraton' means........ Life insurance the risk is determined on the basis of .......... Where do you not find insurable interest in the following options......... The principle of utmost good faith applies to...........

When an illiterate person wants to have a policy.....

Mr.Shanth has taken an endowment policy of 15 years with ABC insurance company. He has paid premium for 4 years and he could not pay premium for 5th and 6th year. In the 7th year he approaches the company to renew the policy. Now which of the following options will apply to him?

Which of the following statement is not true in connection with nomination?

Which of the following statements in correct in connection with assignment?

Mr. Shanth has taken an endowment policy of 20 years. He has paid premium for 10 years and now the policy is in force. At this point of time can Shanth take loan? As per the IRDA regulations the decisions on the proposal must to convey to the proposer within...... The underwriter can get the required information about the proposer in..... Mr. Ramesh works in a mining company. So he is exposed to..............

Lien is imposed on a policy when underwriter feels that...... The income of an individual can be protected with the help of......... Mr. Shanth has got a pure endowment policy for 30 years for the sum assured of Rs. 75,000,00/-. It can be paid to him......

The disposable income means...... Mr. Shanth is in his early 20s and has just started earning. His risk appetite is expected to be..... Which of the following ways is easier for a person to take a saving product? Flexibility like partial withdrawal and taking premium holidays is possible with.... Mr. Rajgopal has invested some money. He has been informed clearly about the tenure, interest rate and method of payment of interest at the inception of the investment itself. His investment may be in.....

In 'Daily hospitalization cash benefit plan'......

Which of the following is not a feature of WOP rider? Mr. Ramakant is 35 years old. He has bought retirement plan for 20 years. This type of pension plan is known as.................. Mr. Ranga has taken Critical Illness Rider. In which of the following scenarios the insurance company will pay him...... The younger the age of an individual..............their liabilities will be. Mr. Ramachandra's son Mr. Bharat has just employed as a software engineer, daughter Anusha has got married. Now Mr. Ramachandra is free from his burden. So Mr. Ramachandra is now in the ...................stage. Mr. Vinodh has lot of inconvenience to reach office every day. So he wants to buy an expensive car when he will have sufficient fund. Here Mr. Vinodh's need is............. Fact finding enables the insurance advisor to identify the.............

During the recommendation stage the advisor needs to......

As per the IRDA circular an insurance agent....... For an insurance advisor churning is.............practice According to IRDA regulations the maximum percentage of first year commission to be paid to an insurance advisor is............. In the case of agent's death, the commission payable will be paid to......... Mr. Chintamani has taken a policy from ABC Company on 2nd March 2010, but unfortunately he died on 18th August 201 His death claim is considered as.......... Detailed Investigation will be triggered in case of...... In insurance, if a person is not heard for .......years his is presumed to be dead.

In the process of settling maturity claims.... Issuance of a license to a person has been stipulated in................Act The foreign direct Investment (FDI) in Indian Insurance Industry is allowed up to..... The Insurance Institute of India (III) was formed in..... The insurance ombudsman has been appointed to protect the interest of....... The charges were not fully disclosed to the customers" is a common complaint against.....

Mr. Sharma is a newly recruited insurance advisor. To meet his month target he explains only the good points of newly launched plan to his customer. Here Mr. Sharma's behavior is............ The code of conduct has been prescribed in India by...........

Which one of the following is possible in retaining the risk?

The timing of death is uncertain, so when one should take life insurance?

Insurance Protects which of the following?

What does the mortality tables contains ? Mr. Guptha is recently detected with lung cancer. He would like to take an insurance. What is your suggestion? On 6 August there was a typhoon. Mr.Augustin who had insurance died in typhoon.
th

Now how will the insurance company will categories this particular risk ?

Mr.Akash filled the proposal form but before submitting to the company he discussed with the agent that he is not sure whether he can pay for 15 years . This attitude affects which part of the contract?

Agent who is a licensed intermediary is actually is ? Mr.Karan who has to go to abroad for 6 months on an official work decides to leave his car with his friend Mr. Jim. What will be the validity of the insurable interest in this case ? Mr. Varun who won a multi chain company would like to take an insurance. What will be the best option for him from the following ? Mr. Josh was filling the proposal form but as his mother was sitting beside him, even though he drinks and smokes he ticked NO in smoking & drinking column of proposal form. This indicates ? Mr.Feroz has taken policy for critical illness worth Rs.1 lakh in health policy. He also has a term plan worth Rs.10 lakhs. Mr.Feroz was hospitalized after he was detected with cancer .Unfortunately he died after 3 days of treatment. How the claim will be settled? Mrs.Shwetha has taken a loan from her policy. Later stage she neither paid back neither the loan nor she paid the premium for a very long time. What will happen to her policy? Mr. Manish has a money back policy and a whole life policy. He is planning to take some loan from both the policies as he was regularly paying the premium. What is your suggestion?

Which of the following information does not appear in the First Premium Receipt? Mr.Santhosh working as a head master who is around 52 years had requested for an Insurance cover for Rs.1 crore. He insisted that his brothers son should be the nominee not his wife. Underwriter will verify this case for which one of the following: Mr.Feroz has applied for an insurance cover of Rs.4 crores. The Company will accept or reject the proposal only after confirming from one of the following agencies. The responsibility for classification and analysis of the proposal form lies with whom? In underwriting the economic value of the person is determined by what? Mr. Vinu got a job recently, he cant afford to pay to pay the higher premium as of now but in future once he settles down with his job he can pay higher premium. Which one will be the best plan? Mr. Kumar decides that his employees should have SSS scheme. What type of plan is SSS? The concept of Risk diversification is applicable in which of the following instrument ? Ajay bought a share for Rs.110 and he sold when it was Rs.630.What had happened to his share? Which of the following cant be ducted under section 80 c from taxable income? Which official body decides to increase the interest rates? Who act as an intermediary by offering a trading platform for buying and selling of shares? Chap-6 Which one of the following cannot be covered under Critical illness rider? Mr. Yash has taken an annuity on 25th August 201The benefit of the plan will start from 25th August 201 What type of annuity plan is this? Mr.Rohith wants to have a health insurance plan for his family and for his aged parents. which will be the best plan for him ? In what situation Waiting Period is applicable in a health insurance? Which are the two primary needs of any customer in any point of life? Mr. Raj has taken a policy of 15 year term. He has paid the premium for 9 years. But now unfortunately he has lost his job. He is unable to pay the premium. What can be the best solution from the following ? In which of the following an agent will collect the customers Personal data, professional data and financial data Mr.Mohith, an agent was explaining to his customer the guaranteed benefits of the product. Which one of the following documents he would have used to explain the same? Mr.Harsha an agent wants do a thorough Fact Finding for his client to Mr.Kishan who is a business man. Which of the following information will be helpful to know about the earnings and Expense of Kishan?

Which one of the section deals with the licensing of an agent?

Which one of the following factor does not help in the Persistency ? In which one of the following statement an agents commission will be disclosed to the customer ? Mr. David an agent had helped Mr. Srinivasan to take an endowment policy on Feb 200As srinivasan was finding it difficult to pay the premium, Mr. David had advised him to surrender this policy and to apply for a lower premium policy. This is called as ? Mr. sham had taken a term plan in 2008 . He died of cancer in 20 Investigation about his death revealed that he was deducted cancer in 200What will happen to his death claim?

Which regulations take care of the settlement of claims ? Mr.Baskar had taken a Term plan for a sum assured of Rs. 7 lakhs. He also has an ADB rider worth Rs. 4 lakhs. Unfortunately Baskar died in a car accident. How much will be the death claim settlement? Mr.Sampath has taken a policy on January 10th 2006 for a term of 12 years. Due to financial instability he discontinued to pay the premium from 201 He died on August 13th 201 What will happen to his death claim ?

Which of the following team represents the members of GBIC ? Which council among the following focus on creating a positive image of the insurance industry and would also like to enhance the Consumers confidence on the same ?

Mr.Varun taken up his agency in July 5th 200 His lost his IRDA license while travelling. His agency has also expired. What is the solution for Mr.Varun ? If any consumer is dissatisfied with the customer care cell of any insurance company to whom they can escalate their grievances. Which is the Regulation that insists that all the insurance companies should provide the information about the insurance ombudsman of that region while sending the policy documents. Mrs. Hansa an agent, has planned to sell maximum products within a short span of time by giving maximum rebates to the customer to complete the contest target of the company. Mr.Raghav is an expert in fact finding .Mr.Raghav helps his brother in his job by sharing the information of his clients after the fact finding he does to procure insurance. What will be the outcome ?

The concept of need based selling involves E-sales refers to sales of insurance products through Rahul is a licensed insurance agent. As agent he must carry out his role in accordance with Life insurance company determine the level of risk based on Ram works in a Fire cracker factory. He stocks the cracker in his house. He runs which type of risk.

In Insurance terms, pooling of risk is

A contract exists between insurer and proposer when Rakesh purchased a life insurance policy. While writing a proposal form he hide that he practices mountaineering. Sadly he died in an accident while climbing Mount Everest. The insurers rejected the claim.What is the reason for rejection? Shamsher has a health insurance policy of ` 1, 00,000 individually and from his company for ` 2, 00,000. He falls sick and got hospitalized. His hospital bill ran to ` 50,000. He claimed this amount from his individual policy. Also, he placed the request with his company for group policy claim, which was rejected. The reason for rejection is. Payment of premium and sum assured are laid down in

An insurance contract commences when

When is premium considered / deemed to be paid? Ram Lal is an insurance policyholder. He has recently shifted his home from New Delhi to Noida. He wants the address to be changed. This change in policy document will be effective through? Lalu Yadav is having a saving plan with 20 years tenure. He has paid 5 annual premiums but due to financial crisis is unable to make future premium. His policy

How assignment distinguishes itself from nomination?

When an underwriter may consider Moral Hazard? Level Premium is calculated based on MPL abbreviates

What is generally considered as a substitute to charging a high premium for a high risk? Manmohan has recently purchased a house worth ` 50, 00,000 on loan. Which insurance product you as an adviser will suggest? To avail the income tax benefit at investment stage, premium should be maximum The savings needs of a particular individual is majorly determined by For his investment need, Ravi has parked funds in equity. The returns from this form of investment can be categorized as While calculating the expected returns from investments and savings, an individual should make provisions for Vijay, aged 30 years and married, is the sole bread winner for his family. He is saving enough with banks.As an agent, which need you prioritize first? The Central Bank has recently announced the decrease in interest rates. The prices of bonds are Rohit is working as sales manager with an FMCG company. His job requires him to travel across states. He is planning of covering his additional risk involved while travelling and a savings plan. What suggestion would you give him as an agent? The general need for purchasing a health insurance plan at an early age results from which of the following factors? The life expectancy in India is constantly improving and is well above 60 years. This also brings along challenges. These challenges can be covered through Anand has purchased a pension plan which is nearing completion of accumulation phase. He is in need of finances to make down payment of car he wants to purchase. At the end of accumulation phase how much he can make tax free withdrawal? During the fact finding session as an agent you should follow which one of the following process? As an adviser why is it essential for you to carry out the financial planning exercise with the prospective clients? After undertaking financial planning exercise, the prospective client said that he does not have funds for investments. To resolve this query, which skill of an agent would be tested?

The objective of Fact Finding is to

To explain the benefits of a product, the insurance adviser should

The agents duties and responsibilities ends

When client declines the recommendation by the insurance adviser even after resolving the concerns, the adviser should Under what circumstances the surrender of a policy should be recommended by the agent? What key benefit high persistency ratios have on insurance adviser? Insurer will not pay the claim unless Aman has taken a term plan for 20 years. In the 3rd year he suffered financial crisis due to which he was unable to pay premium within grace period and died after 1 month. The nominee files a claim and is rejected because When a policy is lost, insurance company take utmost care while settling maturity claims because

What key event is most likely to make an insurance contract not a valid contract? Under Married Womens Property Act, 1874 a policyholder is Who has the authority in insurance company to issue/cancel the agents license Which organization was formed with purpose to promote insurance education and training in India? A client demands the information on the current status of a policy indicating accrued bonus. The insurer should provide communication within To ensure that the customers complaints are handled effectively, IRDA has established Amit & Rashmi are newly married. Both are working couple. They want to invest their savings of 100,000 annually to build corpus to make down payment for their house 5 years from now. An adviser sold than a unit link product to meet their requirement. This may result in Shankar, an adviser, sold a term insurance policy and unit-linked insurance policy (ULIP) to Amar, the client, who is unmarried and has no dependent. Consequently, Shankars action can be termed as Insurance business is classified into three main types: Amit is looking for term insurance plan for protection of his family, he is advised to approach to: Insured can contact to seek the resolution of grievances they have against insurer to IRDA through: An Insurance company pools the premium collected from several Individual to insure them against similar risk is called: Which of the following Risk is associated with those events which are not in control of an individual and also no possibility of making profit: which of the following refres to specific event which might cause a loss ... Manish took a loan from Pankaj of Rs.10 lac, Pankaj transferred his Insurance policy to Manish of Rs.10 lac as a security with the agreement Of when Loan is fully paid, policy title will be revert back to name of Manish is called:

Rakesh has bought an Endowment, Money back, Term & Annuity Plan he would like to avail Loan from: On foreclosure, if Death claim arises before the payment of the surrender value, the payment would be payable to: To prove ones identity in accordance with KYC process, the customer needs to submit following document excluding .? Life Insurance also known as: Which clause lays down the mutual obligation of the parties regarding, Payment of Premium by Life assured & payment of Sum Assured by Gaurav is working in MNC at the age of 32 bought an Endowment Plan. He had nominated his 1 year old daughter Saanvi, but not able to get the Signature of her appointee due to unavailability of his spouse .after 5 year. He died in road accident, now claim money would be payable to: Parvesh bought a policy an endowment plan but after one year insurer. Found he had Aorta Surgery .now which will apply by insurer: Jyoti is submitting is copy of permanents account number card as age proof for buying an money back plan .her age consider as a Which one of the following bonuses is given by insurer as an incentive to the insured to for long term: Ramesh bought an endowment plan for tern year he pays the same Amount in every year is called: Which one of the following is not source of information about the Manish being a sole earning member of his family not insured himself But looking for insurance for his son who is student .there is possibility of In Group insurance plans contract of insurance between ?

Which option is not correct with regard to joint life insurance plan? Time deposit account is issued by: Pankaj want to save tax over and above the deduction allowed under section 80C of the income tax act 1961, which allow deduction from taxable income In which of the following Bank pays the Interest on the deposits fund on monthly /quarterly /half yearly/ yearly basis as chosen by depositor fund: Mukesh buys shares at lower price and sold at higher price, the Difference between the two prices is known as:

Vinod being an insurance agent can offer assistance to his client Ramesh by: Due to some medical problem Neeraj got hospitalized and insurance Company paid him a fixed amount on daily basis, what kind of health Policy he bought it? Which of the following is not featured and benefit of rider? Gaurav bought an endowment plan for 20 year of 10 lac SA with ADB Rider, died in road accident after 10th year how much money claimant would be payable:

Kajal is investing for the purpose of retirement at the time of vesting Age before receiving the regular annuity she has option to withdraw/commute Upto:

What do you mean by Double Income Family? In which of the following case there is no defined retirement age?

Which one of the following is true?

Objectives of fact-finding do not includeWhich one of the following documents distinguishes between Guaranteed and nonguaranteed benefits? Under which one of the following acts the maximum remuneration that can be given to insurance agents described? Which one of the following is not a benefit of persistency?

Satish as an insurance advisor while recommending to his client Ramesh is not suitable policies

Why a building long term relationship with clients is necessary? Pranab is not able to pay premium for continue his policy due to some Financial problem, so he rather than surrendering the policy, what Option he has to convert .? Ajay has bought an endowment with profit plan for 20 year .if he took a Loan after 5th of commencement of policy and died before 2 year of Maturity .what would be payable on maturity? Under what kind of Rider the insurance company pays the treatment cost in the event of hospitalization of the insured, subject to term & Condition of the rider. Which one of the following report is not considered in case of Pankaj Bought a plan in 2009 & died in road accident in 2011 : Married Womans Property Act 1874 provides that a life insurance Policy that has been taken out by:

The face of the life Insurance industry in India is ..? At what percentage FDI allowed in life Insurance sector by Govt.

If policy holder is not satisfy with term and condition the policy which She/he has received, then has option to return policy with in..? How Many offices of Ombudsmen the Government body has set up to Resolving insured customers grievances. For Insurance industry which association to take steps to Develop Education and research in insurance?

Pankaj being a license insurance advisor has to follow code of Conduct provided by:

Ans Option 1 1. Perils are medical factors which influence the risk of dying and hazards are lifestyle activities which influence the risk of dying. 1. Real needs are financial needs and perceived needs are non-financial needs. 1. Young unmarried 1. Regulation 1. Insist on taking the product right away 1. Term Insurance Plan 1. It was assigned. 1. It was lost.

Ans Option 2

Ans Option 3

2. Perils are risks that policyholders will die before a specified date and hazards are factors which could influence that risk. 2. Real needs are actual needs and perceived needs are based on a clients thoughts and desires. 2. Young married 2. Redressal 2. Should ask for the reason for not going with the recommendation

3. Perils are factors which affect the risk being insured and hazards are the size of the risk being insured. 3. Real needs are identified by the insurance agent and perceived needs are identified by the client. 3. Young married with Kids 3. Research 3. Should ask for a future date from the client 3. Return of premium plan 3. It was lost. 3. It was lapsed.

2. Endowment plan 2. It was paid up. 2. It was paid up.

1. Marriage. 1. Inflation. 1. Shares will be more attractive. 1. Sandeep has taken another policy from XYZ Life Insurance Company 1. Quantify clients need 1. Easy access

2. Savings. 2. Interest. 2. Shares will be less attractive. 2. Vishal is older than Sandeep 2. Priorities Clients Need 2. Fixed income

3. Education. 3. Discount rate 3. Fixed deposits will be more attractive. 3. Sandeep is earning more then Vishal 3. Recommending Product 3. Tax Benefits

1. 213333 1. Guarantees 1. Savings

2. 229333 2. Taxation 2. Insurance

3. 273333 3. Tenure 3. Investment management

1. Physical hazard 1. Misrepresentation 1. Pooling of risk 1. Individual agent 1. Equity market 1. Do the fact finding exercise again 1. Give a recommendation 1. It rises 1. Liquidity 1. Physical Hazard 1. Enquire about the refusal from the client

2. Fraudulent representation 2. Lack of insurable interest 2. Maintaining insurable interest 2. Corporate agent 2. ULIP 2. Insist with the client to take a term plan 2. Give a joint decision with the consumer forum 2. It falls 2. More gold in value 2. Moral Hazard 2. Suggest an alternative plan 2. Indisputability clause 2. Brochure 2. Under conditions of the reinsurer 2. Premium cheque and health declaration 2. Open Market 2. Same for all policies sold by the advisor except corporate clients

3. Moral hazard 3. Fraud 3. With utmost good faith 3. Bank 3. Debt mutual fund 3. Give a child plan and revisit the client on a later date

3. Dismiss the case 3. It remains constant 3. Purity 3. SA is too high 3. Pass on to the superior

1. Fraudulent claim 1. Signed copy of sales illustration 1. Under no circumstances 1. Reinstatement Fee and Proof of continuing good health 1. Life Long Annuity 1. Same for all policies sold by advisor

3. Redressal procedure 3.Hand written declaration by agent

3. As directed by actuary

3. Only health certificate 3. Reinsuring Annuity 3.Only for policy for which complaint has been given

1. Become volatile 1. institutes of actuaries of India 1. expired 1. Insurable hazard

2. Decrease 2. insurance institute of India 2. reviewed 2. moral hazard

3. Increase 3. Charted institute of insurance 3. Void 3. non insurable hazard

1. Rs. 32000 per month 1. Investment Risk 1. Lung cancer is a hazard whereas smoking is a peril 1. Risk profile of both the policyholder are different 1. Ensure Better annuity rate

2. Rs. 24000 per month 2. Risk of death 2. Smoking is a hazard and lung cancer is a peril 2. Age of both the candidate are different 2. Increase in the range

3. Rs. 40000 per month 3. Uncertainty of return 3. Lung cancer is a peril and smoking is a moral hazard 3. One has chosen Single premium policy and other has chosen regular premium policy 3. Increase in return

1. Money Back 1. Fact finding 1. Premium plus interest earning 1. The premium collected & deposited in a pool 1. Every time premium is paid 1. Consideration. 1. At inception of policy 1. Traditional deposits 1. 10% of the premium on the base policy 1. allows policyholders to customize their insurance cover with additional benefits

2. Term Plan 2. Consulting the clients parents 2. Risk premium plus interest earning 2. All similar risks are pooled together 2. If the policy has lapsed and it has to be revived. 2. Legality of an object. 2. Not needed 2. Recurring deposits 2. 20% of the premium on the base policy

3. Endowment Plan 3. Consulting the family of the client 3. Premium minus interest earning 3. Premium is pool to make claims 3. If the insured person falls sick and is admitted to hospital. 3. Consensus ad idem. 3. At the time of claim 3. Cumulative deposits 3. 30% of the premium on the base policy

2. rider is like a clause 2. The insurance company may pay an additional amount on a daily basis if the insured is admitted to the Intensive Care Unit (ICU). 2. 1/4th of the accumulation fund

3. Operative clause.

1. The daily amount paid is fixed and will never be more or less than the cost of actual treatment. 1. 1/3rd of the accumulation fund

3. The insurance company will pay for doctor consultation fees incurred prior to hospitalization 3. 1/2nd of the accumulation fund

1. paid up to 75 Yrs

1. CI benefit will cease 1. Tax benefit 1. Moral 1. employee- employer 1. IRDA 1. Young 1. 2.5% 1. 1 lacs 1. 15 days of receiving the proposal 1. All members of a Family 1. 30 days

2. annuity will be continued for next 5 Years 2. CI benefit reduced from existing sum assured 2. Savings 2. Physical 2. husband-wife 2. Consumer Forum 2. Pre- retirement 2. 3.0% 2. 3 lacs 2. 20 days of receiving the proposal 2. Husband and Wife only 2. 90 days 2. Entire charges less bed charges will be paid 2. SEBI 2. First Two years of policy 2. Up to 99990 2. Increase in Sum Assured next year 2. 21 year old 2. 2 months 2. 30 lakhs 2. Attestation 2. Quarterly 2. 25% of base policy premium 2. 8320

3. till he die

3. CI benefit continues 3. Investment 3.Ethical 3. family members 3. Distric Forum 3. Retirement 3. 5.0% 3. 2 lacs 3. 25 days of receiving the proposal 3. Parents only 3. 120 days 3. A fixed amount on a daily basis is paid irrespective of the actual cost of treatment 3. RBI 3. Claim 3. Up to 100000 3. Loans facility 3. 23 year old 3. 3 months 3. 25 lakhs 3. Information statement 3. Half Yearly 3. 30% of base policy premium 3. 9456 3. Up to the sum assured taken in the plan 3. 3 months

1. Entire charges are refunded. 1. IRDA 1. First five years of policy 1. Up to 50000 1. Discount in next year premium 1. 18 year old 1. 1 month 1. 50 lakhs 1. Operative clause 1. Monthly 1. 15% of base policy premium 1. 8000

1. 20,000 1. 1 month

2. 50,000 2. 2 months

1. 2013

1. 10% of the sum assured 1. Switching 1. Denny 1. Discounted Value 1. Loading 1. One person 1. Joint life policy 1. Increase more business 1. 10 days 1. Will be considered as standard age proof 1. 10000 1. Actuary 1. 2 lacs 1. Term plan 1. IRDA 1. The policy needs to be advertised in the newspaper. 1. Term plan. 1. 10,00,000. 1. 100% of basic premium. 1. 100% of basic premium. 1. Insurance contract. 1. Moral hazard. 1. High income. 1. Charges. 1. Voidable 1. Null and void

2. 2015 2. Specified amount multiplied by the number of days the policyholder is hospitalized 2. Doing a financial planning 2. Denny and his wife 2. Principle amount 2. Investment 2. Two persons 2. Not Possible 2. Increase in the agents earning 2. 15 days 2. Will be considered as non standard age proof 2. 25000 2. Underwriter 2. 3 lacs 2. Endowment plan 2. Tariff Advisory Committee 2. Nishu has to sign an indemnity bond. 2. Endowment plan. 2. 20,00,000. 2. 50% of basic premium. 2. 50% of basic premium. 2. Indemnity contract. 2. Moral peril. 2. Middle class. 2. Mortality. 2. Invalid 2. Invalid

3. 2017 3. expenses incurred per day multiplied by no. of days stay in the hospital 3. Churning 3. Denny, his wife and children 3. Discounted Value with persistency bonus 3. Frequency 3. Three persons 3.50:50 3. Will improve reputation 3. 30 days

3. Will not be accepted 3. 50000 3. Claim Department 3. 5 lacs 3. Whole life plan 3. National Insurance Academy 3. Thumb impression of Ashu has to be taken. 3. Money back plan. 3. 50,00,000 3. 30% of basic premium. 3. 30% of basic premium. 3. Value contract. 3. Physical hazard. 3. Low income. 3. Interest. 3. Valid 3. Voidable

1. Proviso 1. Total paid premium

2. Schedule 2. Sum Assured

3. Terms & conditions 3. Surrender value 3. Reaches at a level as per industry trends

1. Rises 1. Some Specific Insurer 1. Life Insurance Council 1. Provide suggestion for Premium calculation 1. He has switched his fund 1. Bank 1. Administrative charge 1. Risk apatite of client 1. Term Plan 1. 3 years 1. Not necessary to pay premium until court decree 1. Money back policy 1. Insurance broker is represents insurance buyer and remunerated by the insurance company 1. Shailesh is older than ankit. 1. It is higher 1. One year 1. Health Insurance 1. Needs to take experts suggestion 1. Address of the agent

2. Decreases 2. Those Insurer who did not created Insurance Ombudsman System 2. IRDA 2. To be an active link between Global market & Indian Life Insurance Industry 2. He has opted for Settlement option 2. Insurance Company 2. Inflation 2. His future aspiration 2. Term Plan with return of premium 2. 5 years 2. Necessary to pay premium until court decree 2. Convertible plan 2. Insurance broker is represents insurance buyer and remunerated by the Client 2. Shaileshs income is more than Ankits income 2. Decrease 2. Two years 2. Group Insurance

3. All insurer 3. Insurance Association 3. Design, implement and operate an insurance training 3. He has he has redirected his past premium. 3. Post Office 3. Interest rate 3. Commitment to need 3. Pure Endowment plan 3. 7 years

3. Claim not admissible 3. Term plan 3.Insurance Broker gets money from both Insurance company as well as from Client fo selling Insurance 3. Shailesh & Ankit want it that way 3. Slightly higher 3. Three years 3. Micro Insurance 3. Any Amount he can take if he is ready to pay premium 3. Qualification of Agent

2. Equal to base cover 2. Domicile status

1. Nil 1. 2011 1. 5 or 10 grams 1. At the time of taking the policy

2. 10% 2. 2012 2. 10 or 15 grams 2. At the time of claim 2. All types of insurance except Motor insurance 2. 15 days 2. Has the power to supersede the IRDA by issuing a bill in parliament 2. He will get tax benefit up to 25% 2. Number of days admitted in hospital & surgery expenses in partial 2. Need to add that hospital as TPA

3. 20% 3. 2013 3. 15 or 25 grams 3. At the time policy matures

1. all types insurance 1. 10 days 1. Has the power to supersede the IRDA by issuing notification. 1. He will get tax benefit up to 5000 1. Number of days admitted in hospital & surgery expenses in full 1. Need to spend and Get claim from the insurer

3. Only life insurance 3. 20 days 3. Has the power to supersede the IRDA by issuing draft 3. He will get a reduction in tax slab 3. Treatment cost of surgery subject to terms & conditions

3. Need not to claim

1. Childs education 1. Calculating premium 1. Life and non life respectively 1. Economic risk

2. Marriage 2. Interact with the government 2. Both life insurance 2. Speculative risk

3. Emergency funds 3. Training 3. Both non life insurance 3. Financial risk

1. 10 days 1. Only by few selected insurers

2. 20days 2. Only by non life

3. 30 days 3. Some life and non life

1. Provisio 1. When the insurance company is in the first 10 years of operation 1. When the customer asks him 1. Insurance coverage

2. Endorsements 2. If the agent has worked with the company for more than 5 years 2. After the fact finding process 2. Annuity part

3. Operative clause 3. If the agent has worked with the company for more than 10 years 3. After quantifying the need 3. Guaranteed and non guaranteed part

1. 213333 & 273333 1. Pure risk 1. Lower profits

2. 213333 & 229333 2. Financial risk 2. Higher profits

3. 229333 & 273333 3. Particular risk 3. Increased Liability

1. Consumer Forum 1. Nil 1. Good Returns 1. Surety insurance 1. Commission 1. Insuring existing losses. 1. Insurance companies

2. COPA 2. 1% 2. Regular Income 2. Keyman Insurance 2. Charges 2. Making false insurance claims. 2. Banks

3. Sebi 3. 5% 3. Safety 3. Partnership Insurance 3. Non guaranteed benefits 3. Paying excessively for insurance cover. 3. Asset Management Companies

1. Endowment 1. Group lifestyle 1. Insurance broker represent the client and the insurer remunerate the broker 1. The customers are satisfied with the products 1. The entire fund can be withdrawn 1. 24 hours 1. Loss of renewal commission 1. 15 days from the date of receipt of the policy document 1. At the inception of the policy 1. Endowment Plan

2. Term 2. Employees 2. The client represent the broker and the insurer remunerate the broker 2. The company is acquiring more business and new customers 2. Only half of the fund can be withdrawn 2. 1 day 2. High client satisfaction 2. 20 days from the date of receipt of the policy document 2. At the time of a claim 2. Convertible Plan

3. Money Back 3. Age of the group 3. Insurer represent both client and broker remuneration 3. A large numbers of policies have lapsed / surrendered resulting in loss of profit 3. Only one third of the fund can be withdrawn 3. 10 days 3. Higher reputation 3. 25 days from the date of receipt of the policy document 3. At the time of every renewal premium payment 3. Money Back plan

1. Endowment plan 1. Regularly with no fixed term

2. ROP plan 2. Lump Sum with no fixed term

3. Whole life plan 3. Lump Sum for fixed period of time

1. Less than 10000 1. 5 days from the receipt 1. Calculate the premium 1. Physical 1. 1. 1. 1. Agent 1 lakh 75K Health plan

2. More than 10000 2. 10 days from the receipt 2. Increase the profitability 2. Moral 2. 2. 2. 2. Policy holder 1.5 lakhs 1L Child Plan

3. Less than 20000 3. 15 days from the receipt 3. Ascertain the death ratio 3. Occupation 3. Authorized officials of insurer 3. 2 lakhs 3. 1.5 L 3. Life Insurance 3. Life Insurance 3. Avoid 3. High Returns 3. Introduction of agent 3. 100000 3. Actuaries 3. Life Insurance Council 3. Appointment of Principal Compliance Officer 3. Rs. 25,000

1. Health Insurance 1. Retain 1. Save Tax 1. Need analysis 1. 60000 1. Life Insurance Council 1. IRDA

2. Family floater 2. Transfer 2. Fluctuating income 2. Understand about company 2. 75000 2. IRDA 2. Insurance Company 2. Audit by Finance Ministry 2. Rs. 50,000

1. Inspection by IRDA 1. Rs. 1, 00,000 1. National Commission 1. Rs. 75,000 1. No, as 15 days period is over 1. Term & Children Plan

2. District Level 2. Rs. 1, 10,000 2. Yes, as it is within 1 year 2. Annuity Plan

3. State Level 3. Rs. 1, 20,000 3. No, as 20 days period is over 3. Whole Life Plan

1. Transfer

2. Control

3. Retaining

1. Yes, as Naveen and Ram are of same age.

2. No, customers needs are different

3. Yes, as both are teachers

1. Normal 1. 1. 1. 1. Middle Level 5000 15 days 1Lakh

2. Fraudulent 2. 2. 2. 2. Top Level 10000 30 Days 10 Lakhs

3. Early 3. 3. 3. 3. Low Level 15000 45 days 15Lakhs

1. 48% 1. Million Dollar Round Table 1. Any Nationalized Bank 1. 50,000/1. 15 Days 1. A clause 1. Peril 1. PAN Card

2. 50% 2. Major Double Rupees Tag 2. Insurance Company 2. 15,000/2. 30 Days 2. A Lien 2. Hazard 2. Certificate of Baptism

3. 60% 3. Major Dollar Round Tag 3. Post Office 3. 10,000/3. 2 Months 3. A Loading 3. Risk 3. Certificate from Village Panchayat

1. Churning 1. Ask the client to fill the proposal form 1. A Family Floater Plan is the same as a Individual Plan 1. 25% each 1. Agent 1. Annually 1. Critical Illness Rider 1. Standard and accepted 1. X only 1. 20 times annual salary 1. Rs.20000 1. Monthly

2. Proposing 2. Find out the reasons for refusal 2. Only self and spouse can be covered in this plan 2. 15% each 2. Insured 2. Semi Annually 2. Hospitalization Care Rider 2. Not standard but accept 2. X with wife 2. 500000 2. Rs.25000 2. Yearly

3. Underwriting 3. Must try to convince the client to follow his recommendation 3. Any number of people may be covered in this plan. 3. 50% each 3. Policy Holder 3. Quarterly 3. Accidental Benefit Rider 3. Not at all accepted 3. X with wife and kids 3. 1500000 3. Rs.5000 3. Quarterly

1. RBI 1. Person receives fixed amt daily for no of days in hospital 1. 7680 1. 2015 1. Need Based Selling 1. Endowment and Money Back Insurance 1. Giving insurance policies to Banks. 1. Peril and Hazard 1. Grouping of Risk 1. Risk Transfer 1. One party makes an offer which the other party accepts unconditionally.

2. IRDA 2. Person receives an amount equal to the expense. 2. 9320 2. 2014 2. Product Based Selling 2. Life and General (non-life) Insurance 2. Selling insurance policies through Banks. 2. Level 2. Risk Grading 2. Risk avoid 2. One party makes an offer which the other party put extra conditions. 2. Legality of object or purpose 2. Concealment of a material fact 2. Insurance should not taken by high risk people. 2. Facts of law 2. Proposal form. 2. Number of premiums payable. 2. Conditional and Absolute Assignment. 2. He can file a complaint against insurance company in court. 2. Habits and Hobbies of Proposer. 2. Present value of future earnings.

3. SEBI 3. Person receives a fixed amount of 1000 daily. 3. 8320 3. 2013 3. Commission Based Selling 3. Government and Private Insurance Markets 3. Giving guarantee to policies by Banks. 3. Uncertainty 3. Risk Assessment 3. Risk retention. 3. One party makes an offer where other party gives counter offer. 3. Capacity of paying future premiums. 3. Fraudulent misrepresentation of facts. 3. Insurance can not taken by politicians. 3. Facts those are not material. 3. Conducting interviews. 3. Sum Assured 3. Life Assignment and General Assignment. 3. He can send back the policy document to insurance company with in 15 days from policy receiving date. 3. Occupation and Residence of Proposer. 3. Present value of previous earnings.

1. Anti Money Laundry 1. Non disclosure of material facts. 1. Insurance can not be used to make a profit 1. Facts of common knowledge 1. Advertisements. 1. Number of years premium paid. 1. Full Assignment and Partial Assignment 1. He can not do any thing, because be received the policy bond. 1. Intentions and attitude of Proposer. 1. Future value of Present earnings.

1. Primary Underwriter

2. Main Underwriter

3. Chief Underwriter.

1. Rs. 2500/1. Guaranteed Benefit and Non-guaranteed Benefit. 1. Only Death Benefit. 1. High Returns 1. Mutual Fund Management Societies 1. Insurance

2. Rs. 25000/2. Interest Benefit and Bonus Benefit. 2. Only Maturity Benefit. 2. Low Returns 2. Mutual Fund Management Systems. 2. Purchasing House

3. Rs. 250000/3. Death Benefit and Maturity Benefit. 3. Only Bonus Benefit. 3. Moderate Returns 3. Asset Management Companies. 3. Investment.

1. Insurance 1. National Saving Certificates.

2. Shares 2. Equity Linked Saving Schemes.

3. Fixed Deposit in Bank 3. Principle component of home loan.

1. Rs. 3, 00,000/1. Collection Phase. 1. Family Health Insurance Plans 1. Taking Life Insurance plan with Critical Illness Rider.

2. Rs. 4, 50,000/2. Accumulation Phase 2. Total Protection Policies. 2. Taking Health Plan, Insurance Plan separately. 2. Young married with children. 2. Open Ended Questions. 2. Imagined to be important by Advisor. 2. Capacity to pay the premiums in future. 2. Proof of identity 2. Renewal Commission.

3. Rs. 90,000/3. Pension Phase. 3. Family Floater Health Insurance Plans. 3. Taking Medi-claim plan with Life Insurance.

1. Young Unmarried. 1. Closed Ended Questions

3. Retirement. 3. Interrogative Questions. 3. Imagined to be important by client. 3. Existing insurance plans. 3. Proof of address. 3. Both of the above.

1. Short term needs. 1. Financial provision to meet predictable and unpredictable needs. 1. Photographs 1. First Year Commission

1. Switching 1. Client and Insurance Company

2. Churning 2. Insurance Company and IRDA

3. Redirecting. 3. Client and IRDA

1. Role of Agent 1. A demand to fulfill the policyholders obligations. 1. Client 1. The insurance company makes enquire only on death claims. 1. Three years 1. Layering 1. 74% 1. Insurance Regulatory and Development Authority. 1. 10 1. Customer Complaint Department (CCD) 1. Those values we commonly hold to be good and right. 1. Over selling of Insurance policies. 1. Risk retention 1. individual agents 1. claim 1. a family history of heart disease 1. physical values of assets 1. death is certain 1. proposal form 1. future data 1. surety-co surety 1. only insurers 1. an impression of the left thumb is taken and third party has to attest it

2. Product Design. 2. A demand to fulfill the insurers obligations. 2. IRDA 2. The insurance company makes enquire on maturity claims only. 2. Five years. 2. Placement 2. 26% 2. Reserve Bank of India. 2. 12 2. Customer Grievance Department (CGD) 2. Behavior that is based upon the moral judgments of an individual 2. Under selling of Insurance policies. 2. Risk transfer 2. bancassurance 2. revival 2. a person working in a chemical factory 2. economic values of assets 2. death is uncertain 2. Advisors confidential report 2. past data 2. employee-employer 2. only proposer 2. an impression of the left thumb is taken and the advisor has to attest it

3. Policy Servicing 3. Any demand made by the policyholder on the insurer. 3. Advisor 3. Enquiry will be done on both Maturity and Death Claims. 3. Seven years. 3. Integration 3. 24% 3. Tariff Advisory Committee. 3. 14 3. Consumer Affairs Department (CAD) 3. A study of what makes ones own actions right or wrong. 3. Explaining all details of the policy to customer. 3. Risk avoidance 3. insurance brokers 3. inception 3. a person consuming alcohol 3. metaphysical values of assets 3. the timing of death is uncertain 3. premium 3. statistical data 3. husband-wife 3. both insurers and proposer 3. an impression of the left thumb is sufficient and need not be attested

1. The policy will be renewed on the existing terms and conditions. 1. The life insured can nominate one or more than one person as nominees. 1. Assignee cannot make fresh nomination in the policy

2. Mr. Shanth cannot renew the policy 2. Nomination can be done either at the time the policy is bought or later. 2. The assignor need not be major at the time of assignment. 2. Mr. Shanth can take loan which should be certain percentage of the surrender value of the policy. 2. 15 days 2. renewal receipt 2. physical hazard 2. the risk associated might decrease 2. a term life policy 2. when he survives the term 2. the amount that can be paid towards one's EMIs 2. low 2. through internet 2. Unit linked Insurance plans

3. the policy may be renewed on different terms and conditions 3. A person having a policy on the life of another should make a nomination. 3. Section 45 of the insurance act speaks about assignment.

1. Mr. Shanth will not be granted any loan 1. 10 days 1. Proposal form. 1. moral hazard 1. the risk associated might increase 1. a unit linked policy 1. when he dies 1. the surplus amount that can be invested 1. high 1. through individual agents 1. Fixed deposits

3. There is no concept of loan in insurance policy 3. 20 days 3. brochure 3. mental hazard 3. the risk associated might not be harmful 3. an endowment policy 3. when he is hospitalized 3. the annual bonus amount 3. normal 3. corporate agents 3. Term Insurance

1. Life Insurance 1. all the expense incurred will be reimbursed by the insurance company

2. Mutual fund 2. Some percentage of the expense will be reimbursed by the insurance company

3. Shares 3. a fixed amount on daily basis is paid by the insurance company

1. The rider waives future premiums in the event of the disability or death of the policy holder. 1. immediate annuity 1. When Mr. Ranga dies due to critical illness 1. the lower 1. Pre-retirement stage

2. This rider is ideal for helping to prevent a policy lapsing due to non-payment of premiums due to death or disability 2. life annuity 2. When Mr. Ranga is diagnosed a critical illness 2. the higher 2. Post retirement stage

3. The main strength of WOP is the payment of full sum assured. 3. deferred annuity 3. When Mr. Ranga's family member will be in critical illness 3. the smarter 3. Married with older children stage

1. Real need 1. clients financial need 1. recommend the products that best meet the client's needs 1. need not disclose the amount of commission 1. good 1. 30 % 1. his legal heirs

2. Perceived need 2. clients personal problems 2. recommend to wait some days to invest 2. need to disclose the amount of commission 2. bad 2. 35% 2. to his nominee

3. Imaginary need 3. clients hereditary diseases 3. recommend the new product the company has recently launched 3. need to disclose the amount of commission on demand 3. compulsory 3. 40% 3. will stop automatically

1. Normal death claim 1. Maturity claims 1. 5 years 1. the company will wait until the claimant comes to office to demand the claim 1. Section 43 of the Insurance Act 1939 1. 50% 1. 1956 1. policyholders 1. IRDA

2. Early death claim 2. All death claims 2. 6 years 2. the process is initiated by the company well in advance of the maturity date 2. Section 42 of the Insurance Act 1938 2. 25% 2. 1999 2. shareholders 2. Agents

3. Abnormal death claim 3. Early death claims 3. 7 years 3. it is the responsibility of the claimant to approach the company 3. Section 12 of the Insurance Act 1922 3. 26% 3. 1955 3. insurers 3. Shareholders

1. ethical 1. IRDA 1. Retaining the ownership in the policy 1. At the time of uncertainty 1. The life of the person paying compensation 1. Tables of death occurring in various circumstances 1. Time of death is uncertain, so insurance can be given 1. Under the category of Pure risk 1. Consideration in the contract 1. A legal person to act on behalf of the reinsurer 1. The insurable interest between the car and jim is valid for 6 months 1. He can take Surety insurance 1. He has breached the non-disclosure of the fact 1. claim of critical illness and 10 lakh from term policy will be settled 1. Policy will be surrendered by the insurer 1. He regularly pays premium so he can take loan from both the policies

2. unethical 2. Insurance Council 2. Not possible as life has many risks.

3. professional 3. Insurance Institute of India 3.Is possible by transferring risk to the policy holder

2. At an early age 2. The risk retained person 's family 2. Tables of details of various probabilities of death 2. Only lung is affected so health insurance can be given. 2. Under the category of peril risk

3. Anytime in life 3. The financial goal of the insured 3. Tables of details of underwriters calculation on death 3. He can take insurance after submitting health certificate 3. Under the category of particular risk

2. Capacity to contract 2. B.A legal person to act on behalf of the insurer 2. The insurable interest between the car and karan is valid for 6 months 2. He can take Business Partner insurance 2. He has breached the company by concealing the facts 2. claim of hospital charge Rs 20,000 and 1 lakh for death will be settled 2. Policy will be surrendered by the nominee 2. He can surrender whole life policy and can take loan from Money back policy

3. Consensus ad idem 3. C.A legal person to act on behalf of the contract 3. The insurable interest between the car and karan is valid until he owns it 3. He can take Key man Insurance 3. He has breached the company by fraudulent information 3. Claim will not be settled as he died due to cancer 3. Policy will be surrendered by the company 3. He cant take loan from money back but can avail loan from Whole life policy

1. method and frequency of premium payment 1. A . Physical hazard, as he is old 1. Financial Inspection agencies 1. Risk Analysis Department 1. The occupation of the person 1. Convertible Endowment plan 1. Salary saving Life plan 1. Mutual Fund 1. Capital Appreciation 1. Pension Funds 1. Central bank of India 1. Bombay Share exchange 1. Blindness 1. Guaranteed period annuity 1. Group Family health insurance plan 1. Immediate care 1. Investment and retirement 1. Converting the policy to Term policy 1. Fact Finding Sheet 1. Fact Finding document 1. Clients Profits and Withdrawals from business 1. Section 42 of the insurance act 1938

2. Date of commencement of last premium 2. B. Moral hazard, as he is 52 years old and wife is not the nominee 2. Specialized inspection agencies 2. Classification of Risk Department 2. The financial history of his family 2. Convertible Term plan 2. Not a specific plan 2. Risk Diversified Insurance 2. Capital Profit 2. Public Provident Fund 2. Reserve bank of India 2. Bombay Stock exchange 2. Paraplegia 2. Life annuity 2. Family health insurance plan 2. Medical examinations 2. Investment and Protection 2. Converting the policy to Paid up 2. Advisor Confidential Sheet

3. Date the policy matures 3. C. Moral hazard, as coverage is high and brothers son is the nominee 3. Credit worth inspection agencies 3. Underwriter 3. The income that he earns 3. Convertible pure Endowment 3. Salary insurance plan 3. Shares 3. Capital Benefit 3. Employee Gratuity Fund 3. Reserve bank of country 3. Stock brokers 3. Coma 3. Deferred Annuity 3. Family floater health insurance plan 3. Pre-existing illness 3. Investment and savings 3. Converting the policy to money back 3. Customer Data sheet 3. C. Benefit illustration document 3. Clients business details 3. License section of Insurance act 1938

2. B.KYC document 2. Clients Expense statement 2. Section 42 of the insurance act 1936

1. Regular reminders about the premium to the customer 1. Customer Statement of the product 1. Churning of the policy 1. Claim will be rejected 1. Protection of Policy holder Interests

2. Flexibility of Premium payment to the customer 2. Benefit illustration of unit linked product 2. Surrendering the policy 2. Claim will be settled as Cancer was not deducted in 2008 2. IRDA claim protection regulation 2002 2. Total 4 lakhs will be paid as death had happened due to car accident 2. Not eligible for Claim settlement 2. Representatives from all government bodies 2. Consumer insurance council 2. Need to complete 50 hours of practical training and paying Rs.100 for the issuance of duplicate license 2. Grievance call center 2. Policyholders Protection regulation 2. Reputation of the company will be high due to offers to the customer 2. Raghav will be terminated

3. Dispatching Discharge voucher to the customer 3. Benefit illustration of endowment product

3. Switching the policy 3. Claim will be settled as he died in 2010 3. C.IRDA policy settlement regulation 2004 3. Total 11 lakhs will be paid 3. Claim will be settled after deducting the unpaid premium 3. Representatives from IRDA 3. National Insurance council 3. Need to complete 25 hours of practical training and paying Rs.100 for the issuance of duplicate license 3. Compliance cell 3. Ombudsman Regulation 3. Agent will be terminated 3. Raghav License will be cancelled

regulation 2002
1. Total 7 lakhs will be paid as death had taken place 1. Eligible for claim as the premium was paid from 2006 to Dec 2010. 1. Representatives from all insurance companies 1. Life insurance council 1. Need to complete 25 hours of practical training and paying Rs.50 for the issuance of duplicate license 1. Nodal officer 1. Policyholder grievance Regulation 1. It will benefit both the company and the customer 1. Raghav will be promoted to the next level

1. Selling what company wish to sell. 1. Insurance brokers. 1. Companys code of conduct. 1. Future expenses. 1. Speculative. 1. Using the same pool for paying claims of car & life insurance. 1. A proposal has been accepted by insurer. 1. Innocent misrepresentation.

2. Selling what adviser wish to sell. 2. Bancassurance. 2. IRDA Acts code of conduct. 2. Claim experiences. 2. Particular. 2. Using different pool for paying claims of life insurance. 2. A policy document has been stamped by insurer. 2. Fraudulent misrepresentation.

3. Selling what customer requirement is. 3. Individual agents. 3. IRDA Regulations code of conduct. 3. Present expenses. 3. Financial. 3. Using the same pool for paying claims of life & house insurance. 3. A policy document has been received by the policyholder.

3. Concealment.

1. Indemnity contract. 1. Heading of policy document. 1. Quotation is signed by proposer. 1. When insured writes a cheque in favor of insurer.

2. Value contract. 2. Proviso of policy. 2. First Premium Receipt is issued. 2. When cheque amount is deposited in insurer account.

3. Deemed contract. 3. Operative clause. 3. Proposal Form is signed. 3. When the cheque is deposited with insurer office.

1. Terms & Condition. 1. Acquires surrender value. 1. Nomination does not transfer the title while assignment does. 1. An individual is proposing SA 15 times his annual income. 1. Risk Premium. 1. Minimum Possible Loss.

2. Preamble. 2. Contract comes to an end. 2. Nomination transfers the title while assignment does not. 2. Insurance is taken out by an individual with dependents. 2. Net Premium. 2. Major Possible Loss.

3. Endorsement. 3. Moneys will be forfeited. 3. Nomination is made after policy is issued while assignment is done before it is issued. 3. A nominee is not a dependent. 3. Loading of Premium. 3. Minor Possible Loss.

1. Clause. 1. Endowment Plan. 1. 10% of S1. 1. Amount of disposable income. 1. High Risk. 1. Taxation only. 1. Retirement need. 1. Likely to increase. 1. To purchase an accidental rider with a savings insurance plan. 1. The premium decreases with increasing age. 1. Equity. 1. 1/5th of accumulated amount. 1. Prioritize, Identify & Quantify Needs. 1. Individuals understand their real needs and can prioritize them. 1. Objection handling skills. 1. Gather Clients Information only. 1. Provide the product brochure to the client. 1. When the clients policy is issued.

2. Assignment. 2. Money Back Plan. 2. 20% of SA. 2. Current assets. 2. Low Risk. 2. Inflation only. 2. Tax planning need. 2. Likely to decrease. 2. To purchase a health plan along with a savings insurance plan. 2. The premium remains constant with increasing age. 2. Bank fixed deposits. 2. 1/3rd of accumulated amount. 2. Identify, Quantify & Prioritize Needs. 2. Individuals have same financial needs at different stages of the life cycle.

3. Lien. 3. Whole Life Plan. 3. 30% of SA. 3. Current liabilities. 3. Moderate Risk. 3. Taxation & inflation both. 3. Financial security need. 3. Will fluctuate. 3. To save through fixed deposits in bank. 3. The premium may increase or decrease with the increasing age. 3. Health insurance plan. 3. 2/5th of accumulated amount. 3. Quantify, Identify & Prioritize Needs. 3. Individuals do not understands their real needs and cannot prioritize them.

2. Listening skills. 2. Identify only the clients needs. 2. Provide Benefit illustration documents to client. 2. When the clients needs have been established.

3. Communication skills. 3. To provide solution of companys choice. 3. Provide the terms and conditions document to the client. 3. When the nominee has changed.

1. Persuade the client to purchase the policy. 1. When a client have been sold the right solution. 1. High renewal income. 1. The policyholder makes a demand. 1. The policy was not in force. 1. The claim may not be genuine. 1. The circumstances are legitimate. 1. The Life Assured. 1. Insurance Company. 1. Institute of Actuaries of Indi1. 1. 10 Days. 1. Integrated Grievance Management System. 1. Ruining the long term reputation of company. 1. Underselling of insurance policies. 1. Life, Non life, Micro Insurance. 1. Property Insurance 1.Complaint@gov.ird1. in 1. Pure Risk 1. Pure Risk. 1. Peril

2. Should ask for reference who might be interested in financial planning. 2. When a client is holding a product having good value for money. 2. Less renewal income. 2. The nominee makes a demand. 2. This condition is excluded in the policy. 2. The policy may be pledged. 2. Representation of facts by the policyholders is true. 2. The beneficiaries. 2. Designated Person. 2. National Insurance Academy. 2. 15 days. 2. Internal Grievance Redressal Cell of the Insurer. 2. Opportunity of new business for adviser.

3. Should never approach the client ever again. 3. When the policy has been mis-sold and do not match his needs. 3. Fewer client bases. 3. The event insured against happens. 3. The claim is fraudulent. 3. The facts were misrepresented. 3. The life assured is major. 3. The trustee. 3. Branch Operations Team. 3. Chartered Insurance Institute. 3. 20 Days. 3. Grievance Redressal Officer. 3. Bad reputation of the individual adviser. 3. Overselling of insurance policies. 3. Life, Non life, Reinsurance. 3. Health Insurance 3.irdacomplaints@gov.in 3. Insuraable Risk 3. Financial Risk. 3. Physical hazards

2. Churning. 2. Life, Non Life, Miscellaneous 2. Life Insurance 2.insurancecomplaints @irda.gov.in 2. Pooling of Risk 2. Particular Risk. 2. Hazard 2. Conditional Assignment

1. Loan assignment

3. Loan Agreement

1. Endowment Plan 1. Nominee 1. An Age Proof 1. Value Contract. 1. Lien Clause

2. Term Plan 2. Legal heir of life Assured 2. An Identity Proof 2. Indemnity 2. Opertaive Clause 2. Legal heir of the life assured 2.Principal of Indemnity apply 2. Standard Age proof 2. Compound Revisionary bonus 2. Level Premium 2. Insurance agent 2. Moral Hazard 2. Employer & Employee 2. This plan is ideal for brother & sister. 2.Bank 2. Infrastructure Bond 2.Cumlative deposit 2. Captial Appreciation 2. Matching the product with Rameshs financial need. 2.Family floater Insurance Plan 2. Maturity benefit

3. Money Back Plan 3. Debotrs 3. An Address Proof 3. Commercial Contract 3. Proviso Clause

1. Nominee only 1. Indisputability Clause (Section 45) apply 1. Non Standard Age Proof 1. Simple Revisionary bonus 1. Gross Premium 1. Proposal Form 1. Physical Hazard 1. Master Policy holder & insurer 1. Plan offer insurance coverage for two person in one policy 1. Post office 1. Corporate Bond 1. Saving Deposit 1. Dividend Income 1. Providing him emergency fund. 1. Group health insurance 1. Providing additional cover

3. Appointee Only

3.Lien Clause 3. an Address proof 3. Persistency Bonus 3. Risk Premium 3. neighbor of proposer 3. Medical 3. Employee & Insurer 3. Each life will be underwritten separately. 3.Mutual Fund 3. Health Insurance 3. Traditional Deposit 3. Bonus Share 3. Recommendation of product with highest return. 3. Individual health insurance plan 3. Nominal cost & flexibility

1.10 lac

2. 20 lac

3.30 lac

1. 2/3rd of Accumulated Fund 1. When a person of the family is involved in double businesses or jobs. 1. Public sector employees 1. Every individuals income and expenditure pattern is same.

2.1/2th of Accumulated Fund 2. When both the life partners are earning members of the family. 2. Private sector employees 2. Every individuals income and expenditure pattern is different. 2. Gathering client data 2. Benefit illustration documents 2. Indian Contract Act 2. Reduction in costs 2. Satish should outline the reasons for recommendation for a particular policy 2. Reviewing financial needs and plans are necessary with changes 2.Return of Premium on maturity

3.1/3rd of Accumulated Fund 3. When the income of a family is just the double of income of another family. 3. Professionals & Businessmen 3. An individuals income and expenditure has no relation. 3. Provide for anticipated changes 3. Fact-finding sheet 3. Insurance Act 1938 3. Increased client satisfaction 3. Satish should check the acceptance or rejection of the recommendation. 3. Agent has the option to recommending highest commission at any time. 3. Deduct the underpaid premium from Sum assured and payable on Maturity 3. Sum assured plus vested bonus minus any outstanding loan/premium & Interest.

1. Identify needs 1. KYC documents 1. Income Tax Act 1. Helps the client in achieving goals 1. Satish should check the Ramesh s commitment to the needs 1. A satisfied client may be the source of other potential clients 1. In to paid up and reduced Sum Assured would be payable on maturity.

1. only Sum assured 1. Accidental death benefit (ADB) 1. Policy first information report. 1. Married Woman 1. Life Insurance Council 1.26%

2.Sum Assured + Bonus

2. Critical illness (CI) 2. Advisor confidential report 2. Married Man 2. Life Insurance Corporation 2.24%

3. Hospital Care (HC) 3. Post Mortem Report. 3. Married Son 3. Insurance Regulatory Development Authority 3.74%

1.15 Days 1.15 1. Life Insurance Council 1. Insurance Regulatory Development Authority

2.20 Days 2.12 2. Life Insurance Corporation 2. Life Insurance Company

3.25 Days 3.14 3. Insurance institute of India

3. Reserve Bank of India

Ans Option 4

Correct option

4. Perils are factors which could influence an insured event occurring and hazards are the actual events which will trigger a payout 4. Real needs are needs which satisfy an objective and perceived needs are needs which do not satisfy an objective. 4. Pre retirement 4. Repository 4. Should review once again

2 4 3

4. Pension plan 4. It was surrendered. 4. It was surrendered.

3 3 1

4. Protection. 4. Compounding. 4. Fixed deposits will be less attractive. 4. Vishal is working in a MNC 4. Fill up the proposal form 4. Liquidity

1 3 2

2 1 4

4. 293333 4. Lock in periods 4. Planning for pension

3 1 3

4. Peril 4. None of the above 4. Randomness 4. Broker 4. FD 4. Give the lead to another agent

1 1 1 4 3

4. Give an award. 4. Gross premiums increases 4. More conversion value 4. Pure Risk 4. Pass on to the other agent 4. Pending decision from Ombudsman 4.Verbal communication to customer

3 3 1 3

2 1

4. As per company policy 4. Premium cheque with arrears 4. deferred Annuity

1 2

4.None applicable

4. Remain unchanged 4. Insurance institute of risk management 4. Valid 4. Physical hazard

2 1 4 4

4. Rs. 48000 per month 4. Chances of lapse 4. Smoking is a moral hazard whereas lung cancer is a peril. 4. Both have chosen different kind of policies. 4. Switch of Funds

1 1

4 2

4. ULIP 4. Reviewing his existing investments 4. Risk premium minus interest earning 4. Contribution of insurance company 4. If the insured person changes his job. 4. Acceptance. 4. Any time during the contract 4. Term Deposits 4. 40% of the premium on the base policy

4 1 3

2 3 1 3

4. Rider is like Preamble.

4. Only surgery expenses are included in daily hospitalization benefit 4. Full withdrawal is allowed

1 1

4. not remembered

4. No change in policy. 4. Protection 4.Ethical & Moral both 4. society members 4. National Forum 4. children 4. 7.5% 4. 1.50 lacs 4. 30 days of receiving the proposal 4. Children Only 4. 180 days

1 4 2 1 2 2 3 2

1 1 4

4. Only Hospital bill will be paid 4. SBI 4. Inception of the policy 4. Without any limit 4. No benefit 4. 25 year old 4. 6 months 4. 20 lakhs 4. Endorsements 4. Annually 4. 40% of base policy premium 4. 9240

3 3 2 1 1 1 4 4 3 2 3 2

4. Unlimited 4. 6 months

4 1

4. 2020

4. 100% of Sum Assured 4. Fact Finding 4. Denny, his wife, his children and his parents 4. Principle with persistency bonus 4. Interest 4. It can be any number 4.Not Applicable 4. Will have impact in his commission. 4. 45 days

2 3 4 1 1 4 1 4 2

4. Will be verified first 4. 100000 4. Accounts 4. 6 lacs 4. Money back plan. 4. LIC 4. Ashu needs to be medically examined. 4. Wholelife plan. 4. 1,00,00,000. 4. 35% of basic premium. 4. 35% of basic premium. 4. Major life contract. 4. Physical peril. 4. Affluent class. 4. Inflation. 4. Null & voidable 4. Valid

2 3 1 2 1 2

3 3 3 3 3 3 3 3 1 2 2

4. Endorsement 4. Paid up value 4. Insurance can price their product on their self past experiences.

2 3

4. It is optional 4. Insurance Institute of India 4. Regulate the investment of funds by Life Insurance company 4. Policy was lapsed on the time of maturity 4. Share Market 4. Market Risk 4. Willingness to pay 4. Unit Linked Plan 4. 2 years 4. Depends on case to case 4. Endowment policy

3 2

2 3 2 1 1 2

2 1

4. None are correct 4. Option 1 & 3 are correct 4. Slightly lower 4. Five years 4. Macro Insurance

1 2 2 3

4. 50% of SA max. 4. DOB of Agent

2 2

4. 30% 4. 2014 4. 50 or 100 grams 4. At the time of taking the policy & claim

1 1 4 1

4. Only Non-life insurance 4. 25 days 4. Can make changes in IRDA law 4. His investment would be deducted from taxable income 4. Lump sum amount what he has incurred 4. Need to switch to the another insurer

1 2

4. Income protection 4. Mortality assumptions 4. Nonlife and life respectively. 4. Insurable risk

4 3 2 4

4. 60 days 4. By all insurers.

3 4

4. Terms and Conditions 4. If the agent is doing more than 3 policies in a month. 4. After the product is recommended to the client 4. Vesting age

1 3

4. 229333 & 293333 4. Physical hazard 4. Decreased Life fund

1 3 1

4. Life Insurance Council 4. 10% 4. Liquidity 4. Debtor Insurance 4. Reversionary Bonus 4. Profiting from insurance. 4. Brokers

1 1 4 2 2 4 1

4. Whole of Life 4. Medical history of group

3 3

4. Broker only service the client 4. The company will not declare bonus 4. Only one fourth of the fund can be withdrawn 4. 30 days 4. More earning of First Year Commission 4. 30 days from the date of receipt of the policy document

3 3 2

4. All the above occasion 4. Term Plan

1 3

4. Ulip 4. Regularly for fixed period of time

2 3

4. More than 20000 4. 20 days from the receipt 4. Declare the bonus 4. Not applicable 4. 4. 4. 4. Proposer 3 lakhs 50K Retirement Plan

3 3 3 2 3 1 2 4 2 2 4 1 2 2 2

4. Retirement 4. None 4. Protection 4. Understanding the Customer 4. 5000 4. Underwriter 4. CII 4. Inspection by Auditor General 4. Rs. 60,000

4 2

4. Mandal Level 4. Rs. 1, 00,000 4. Yes, as it is within 3 months 4. Health Plan

2 4

1 1

4. Avoidance

4. No, as there is an age difference.

4. General. 4. 4. 4. 4. High Level 20000 60 Days 20 Lakhs

3 4 1 1 4 4 1 3 4 2 2 3 3

4. 26% 4. Mean Disposition Residence Time 4. Mutual Fund Company 4. 100,000/4. 3 Months 4. Level Premium 4. Uncertainty 4. Certificate from School or College

4. Switching 4. Must try to force the client to follow his recommendation 4. The insurance cover is shared amongst the family members in no fixed Proportion. 4. No Proportion 4. Insured person 4. Monthly 4. Surgical Care Rider 4. Accepted with SSLC book/mark list 4. X with all 4. 4000000. 4. Rs.50000 4. Once in 6 months

4 4 1 1 2 2 4 1 4 2

4. Constitution 4. Person receives benefit only if he is hospitalized for 3 days minimum. 4. 6600 4. 2017 4. Company Based Selling. 4. Health and Saving Insurance Markets

1 3 1 1

4. 4. 4. 4.

None of the above. All of the above. Pooling of Risk All of the above.

2 4 4 1

4. One party makes an offer which the other party receives the offer.

4. All of the above

4. All of the above.

4. All of the above. 4. All of the above. 4. Telephonic conversations. 4. All of the above. 4. Standard Assignment and Non-Standard Assignment. 4. Serve notice to insurance company on policy benefits. 4. Medical and Personal History of Proposer. 4. Future value of previous earnings.

1 4 2 4

3 1 2

4. Information Underwriter.

4. Rs. 5000/4. Bonus Benefit and Tax Benefit. 4. Only Tax Benefit. 4. Good Returns 4. Asset Maintenance Company Limite4. 4. Contingency/ Emergency Fun4.

3 1 2

3 4

4. Mutual Funds. 4. Premium paid for Health Insurance Plan.

3 4

4. Rs, 4, 85, 468/4. Primary Phase. 4. Family Rakshak Health Plans. 4. Taking Hospital Benefit Plan with Endowment Plan.

1 2 3

4. Children. 4. Clarification Questions.

3 2

4. Long term needs. 4. Family and Employment details. 4. Lapsed policy details. 4. Salary and Reimbursement.

1 4 3

4. Shifting. 4. Insurance and Reinsurance company.

2 1

4. All of the above.

4. All of the above. 4. Insurance company 4. Enquiry will be done if death happens before one year from policy inception date. 4. Nine years. 4. Amalgamation. 4. 76% 4. Insurance Institute of India. 4. 15 4. Consumer Protection Department (CPD)

2 4

1 3 1 2

3 2

4. All of the above.

4. Churning. 4. Risk tolerance 4. through internet 4. surrender 4. A teacher working in a primary school. 4. market values of assets 4. Death is the solution. 4. claim 4. mathematical data 4. brother-sister 4. neither insures nor proposer 4. A relative of the illiterate person has to sign on behalf of that illiterate person.

3 2 3 3 3 2 3 3 2 4 3

4. Mr. Shanth can renew the policy only on the approval of the insurer 4. The section 39 of the Insurance Act 1938 speaks about the nomination. 4. Conditional assignment and absolute assignment are one and the same.

4. loans are allowed only in term plans 4. 25 days 4. annual report 4. Ethical hazard. 4. the risk associated might be general 4. a money back policy 4. when he loses his job 4. the sum of one's all investment 4. Neutral. 4. call centers 4. Endowment plans

2 2 1 2

2 2 2

1 2 2 2

4. Bank deposits 4. The insurance company will pay all the expense only after consulting hospital authority.

4. WOP rider can be offered with all plans 4. joint life annuity 4. When Mr. Ranga dies due to severe road accident. 4. the superior

4 3

2 1

4. Employment stage

4. Important need 4. Clients social background. 4. Recommend to take his own time to take a decision.

2 1

4. Should not disclose. 4. appreciable 4. 45% 4. Paid in lump sum to the survivors.

3 2 2 1

4. Unnatural death claim 4. Rider benefit claims. 4. 8 years 4. If the claimant does not come within a month the entire maturity amount will be forfeited. 4. Section 34 of the Insurance Act 1932 4. 27% 4. 1947 4. General insurers. 4. Underwriters

2 3 3

2 2 3 3 1 2

4. Perfect. 4. Government of India. 4.Is possible by Reinsuring oneself 4. At the time when Advisor takes the decision

2 1

4. The life of the nominee 4. Tables of details of actuarial calculation on death 4. Cannot give insurance for health reason 4. Under the category of Risk Transfer 4. Offer and Acceptance in the contract 4. D. An authorized agent to act on behalf of the legal company 4. The insurable interest between the car and Jim is valid until Karans return 4. He Can take company insurance 4. He had done an innocent misrepresentation 4. Claim will be settled as per the instructions of underwriter 4. Policy will be surrendered by the heir 4. He cant take loan from whole life policy but can avail loan from Money back policy

4. Date the last premium will be paid 4. D. Moral hazard, as he is a head master and 52 years old 4. Insurance Investigation Agencies 4. Actuary who analysis the risk 4. Human Life Value 4. Convertible money back plan 4. Salary Specific plan 4. Risk Sharing insurance 4. Capital Variation 4. Infrastructure Bonds 4. Central bank of country 4. Share brokers 4. Brain Surgery 4. Immediate annuity 4. Family Health benefit plan 4. Permanent exclusions 4. Investment and life needs 4. Converting the policy to whole Life 4. Personal and financial data sheet 4. D. Client benefit document 4. Clients business records 4. License section of insurance agent act 1938

4 3 4

2 2 1 1 3 2 2 4 4 3 3 2

2 1

4. Continuous servicing of the policy 4. Customer data sheet with the product

4. Claiming the policy

4. Claim will be delayed 4. D. Protection of claim settlement regulation 2002 4. Total 7 lakhs will be paid without any deduction. 4. Claim will be settled after the deduction of unpaid loan amount 4. Representatives from Insurance institute of India 4. General insurance council 4. Need to complete 50 hours of IRDA training and paying Rs.50 for the issuance of duplicate license 4. Compliance officer

1 1

4. Compliance Regulatory 4. Agent will be qualified for the contest 4. Customer will complain to Ombudsman

4. Selling what IDRA wants company to sell. 4. Internet. 4. Insurance Acts code of conduct. 4. Targeted bonus rates. 4. Fundamental. 4. Using the same pool for paying claims of life insurance. 4. An insurer has made another proposal.

3 4 3 2 3

4. Non-Disclosure.

4. Rolling contract. 4. Schedule of policy document. 4. Policy Document is received by policyholder. 4. When cheque is posted/couriered by the insure4.

1 3

4. Schedule. 4. Acquires paid up value. 4. Nomination need not be informed but assignment needs to be informe4. 4. A medical checkup is carried out nearby place of residence. 4. Gross Premium. 4. Maximum Possible Loss.

3 4

3 1 4

4. Level Premium. 4. Term Plan. 4. 40% of SA. 4. Duration of investment. 4. No Risk. 4. No provision is require4. 4. Asset building nee4. 4. No change is likely. 4. To purchase a medical plan. 4. The premium increases with increasing age. 4. Savings insurance plan. 4. 2/3rd of accumulated amount. 4. Prioritize, Quantify & Identify Needs. 4. Individuals real and perceived needs are same. 4. Client information gathering skills. 4. Both identify clients needs & gather information. 4. Provide the website address to the client. 4. When the maturity/claim is settle4.

3 4 2 4 1 3 3 2

4 3

2 2

4. Should do nothing. 4. When the client is enjoying good financial status. 4. Unsatisfied clients. 4. The insurer completes the enquiry. 4. The claim is an early claim. 4. There is no nomination. 4. There is no insurable interest attached to the policy. 4. The administrator. 4. Actuary. 4. Insurance Institute of India. 4. 30 Days. 4. Consumer Affairs Department. 4. Financial burden on the couple. 4. Ethical practice by an adviser. 4.Life, Health, Micro Insurance 4. Liabilty Insurance 4.Complaints@irda.gov.in 4. Sharing of Risk 4. Insurable Risk 4. Uncertinity

3 1 3

1 2

4 3 2 4 1

3 3 2 4 2 1 2

4. Absoulte Assignment

4. Annuity Plan 4. forfeited the Premium 4. Education Proof 4. Speculative 4. Schedule of Policy 4. will be Payable to Saanvi (Nominee) at the age of 18th

1 2 4 1 2

4.Utmost good faith apply 4. Proof of Income tax payer 4. Interim bonus 4. Net Premium 4. Medical of examination report 4. No underwriting 4. Creditors & Debtors 4. A joint life policy may cover a partner in business under one policy. 4. Life Insurance co. 4. Interest paid on education loan 4. Fixed Deposit 4. Interest on share 4. Discourse saving in a purposeful and need based manner. 4.Daily hospitalization cash benefit plan 4. Customization and tax benefit.

1 2 3 2 3 2 1

2 1 2 3 2

4 2

4.5 lac

4.1/4th of Accumulated Fund 4. When the members of a family do not work at all. 4. All of the above 4. An individual should not keep in mind his income while planning his expenditure. 4.Surrendering the existing policies for selling new one 4. Financial details 4. IRDA Act 1999 4. Decreased revenues 4. Should advised him to surrender all the polices which are not buy from satish. 4. Introduction of a new insurance product or a change in a clients Circumstance 4. Policy was subject to lien.

2 2

4 2 3 4

4. Paid up value only.

4. Term Rider. 4.Coroners Report 4. Married Daughter 4.Insurance Institute of India 4.49%

3 2 2

1 1

4.10 Days 4.16 4. Insurance Institute of India

1 2 1

4. SEBI.

You might also like