English IC33 Chapter 12 MockTest

Question 1

What will happen if the insured person loses the

original life insurance policy document?

A The insurance company will issue a duplicate

policy without making any changes to the contract

B The insurance contract will come to an end

C The insurance company will issue a duplicate

policy with renewed terms and conditions based on

the current health declarations of the life insured

D The insurance company will issue a duplicate

policy without making any changes to the contract,

but only after a Court order.

Question 2

In the event of any dispute related to premium

payment !which document acts as a proof?

A Renewal premiun receipt

B Advisor confedential report

C First premium receipt

D Claim form

Question 3

Provisions which are normally present in all the life

insurance contract are mentioned in?

A Claim form

B Proposal form

C Standard provisions

D First premium receipt

Question 4

Which of the document is a proof that the risk cover

of the proposer has started?

A First premium receipt

B Renewal premium receipt

C Claim Form

D Surrender Form

Question 5

Mr. X has taken a insurance policy, FPR has been

issued but he died before getting the policy

document due to an accident, what will happen?

A Company iiqill decline the death claim

B Company will give maturity benefit to nominee

C His contract will be cancelled

D Death claim will be given as FPR is the evidance

that contract has begun

Question 6

Provisions that are specific to the individual policy

contract are mentioned in?

A Policy schedule

B Renewal premium receipt

C Specific policy provision

D Standard provision

Question 7

What does a first premium receipt (FPR) signify?

Choose the most appropriate option.

A Free look period has ended

B It is evidence that the policy contract has begun

C Policy cannot be cancelled now

D Policy has acquired a certain cash value

Question 8

Mr "X" is holding a policy in a life Insurnce

Company, He had grievance which he wanted to

take to Ombudsman, from where can he found the

address of the nearby Ombudsman office?

A Proposal Form

B First premium receipt

C Policy scheduled

D Claim form

Question 9

In a standard insurance policy document, the

standard provisions section will have information

on which of the below?

A Date of commencement, date of maturity and

clue date of last premium

B Name of nominee

C The rights and privileges and other conditions :

which are applicable under the contract

D The signature of the authorised signatory and

policy stamp

Question 10

Select the option that best describes a policy

document.

A It is evidence of the insurance contract

B It is evidence of the interest expressed by the

insured in buying an insurance policy from the

company

C It is evidence of the policy (procedures) followed

by an insurance company when dealing with

channel partners like banks, brokers and other

entities

D It is an acknowledgement slip issued by the

insurance company on payment of the first

premium

Question 11

Mrs. "A" is pregnant while taking a policy, death

due to pregnancy will not be covered for her, this is

mentioned in?

A A specific policy provision

B Policy schedule

C General Provision

D Proposal form

Question 12

Which of the below statement is correct?

A The policy document has to be signed by a

competent authority but need not be compulsorily

stamped according to the Indian Stamp Act.

B The policy document has to be signed by a

competent authority and should be stamped

according to the Indian Stamp Act.

C The policy document need not be signed by a

competent authority but should be stamped

according to the Indian Stamp Act

D The policy document neither needs to be signed

by a competent authority nor it needs to be

compulsorily stamped according to the Indian

Stamp Act

Question 13

If complex language is used to word a certain policy

document and it has given rise to an ambiguity, how

will it generally be construed?

A In favour of insured

B In favour of insurer

C The policy will be declared as void and the insurer

will be asked to return the premium with interest to

the insured

D The policy will be declared as void and the insurer

will be asked to return the premium to the insured

without any interest

Question 14

Which of the below forms the first part of a

standard insurance policy document?

A Policy schedule

B Standard provisions

C Specific policy provisions

D Claim procedure

Question 15

A" & "B" are arguing," A" says that the policy

document has to be signed by a competent

authority and should be stamped according to the

Indian Stamp Act, "B" Says the deed is neither to be

signed nor to be stamped?

A A is correct

B B. is correct

C Both are incorrect

D Both are Correct

Question 16

"A clause precluding death due to pregnancy for a

lady who is expecting at the time of writing the

contract" will be included in which section of a

standard policy document?

A Policy schedule

B General provisions

C Standard provisions

D Specific policy provisions

Question 17

Rights & privileges which are applicable under the

policy are given in

A Specific policy provisions

B Policy schedule

C Standard provisions

D None of the above

Question 18

What is the full form of FPR?

A Fundamentalpolicy right

B Full premium reserves

C First premium receipt

D None of the above

Question 19

Mr "A" has just deposited his third premium for

insurance policy, which doument will he receive as a

proof?

A Renewal premiun receipt

B First premium receipt

C Advisor Confidential Report

D None of the above

Question 20

Policy schedule is usually found in

A Middle of the policy

B Face page of the policy

C End of the policy

D None of the above

Question 21

For the subsequent premiums received by the

insurance company after the first premium, the

company will issue ___________

A Revival premium receipt

B Restoration premium receipt

C Reinstatement premium receipt

D Renewal premium receipt

Question 22

Details like policy holders

name,address,0013,nominee details are given in

which part of policy document?

A Standard provisions

B Specific provisions

C Policy scheduled

D None of the above

Question 23

Which of the below statement is correct?

A The proposal form acceptance is the evidence

that the policy contract has be ci un

B The acceptance of premium is evidence that the

policy has begun

C The First Premium Receipt is the evidence that the

policy contract has begun

D The premium quote is evidence that the policy

contract has begun

Question 24

The address of the local ombudsman is given in

which part of policy document?

A Policy schedule

B First premium receipt

C Standard provisions

D Proposal form

Question 25

Mr X has lost his policy document, company will

issue him new policy document with?

A Minor change in policy terms and condition

B Major change in policy terms and condition

C No change in policy terms and condition

D No change in policy terms and condition

Question 26

The standard policy document has typically how

many parts?

A One

B Two

C Three

D Four

Question 27

Which of the following documents is an evidence of

the contract between insurer and insured?

A Proposal form

B Policy document

C Prospectus

D Claim form

Question 28

The policy no. which is the unique identity no. of

the policy contract is given in which part of policy

document?

A Specific policy provisions

B Standard provisions

C Clint confedentia.I report

D Policy schedule

Question 29

The sum assured of the policy is mentioned in?

A First premium receipt

B Renewal premium receipt

C In both option '1 & 2

D None of the above

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Question 1

Under which circumstances company requires a

medical examination or other evidence of

insurability

A Policy is in lapsed condition for less than 1 year

B Sum assured or face value of the policy is low.

C Customer is buying a new policy

D Customer wants to revive a policy with high sum

assured after 1 year of lapsation

Question 2

Rahul Bought a policy in January 2010 and has paid

premium only for 3 years. Now he wants to revive

the policy. What needs to be done to revive his

policy

A He will have a choice weather to undergo medical

examination or not.

B He will have to pay arr due premiums with

interest

C He will have to pay all the overdue premiums with

interest and also need to undergo for medical

examination.

D He can pay the current premium and revive the

policy.

Question 3

In order for the policy to acquire a guaranteed

surrender value, for how long must the premiums

be paid as per law?

A Premiums must be paid for at least 2 consecutive

years

B Premiums must be paid for at least 3 consecutive

years

C Premiums must be paid for at least 4 consecutive

years

D Premiums must be paid for at least 5 consecutive

years

Question 4

Under what circumstances would the policyholder

need to appoint an appointee?

A Insured is minor

B Nominee is a minor

C Policyholder is not of sound mind

D Policyholder is not married

Question 5

Ajay has an endowment policy in half yearly mode

and has paid only 3 premiums, after 5 years he

wants to revive the policy. He is not in a position to

pay all the due premiums. What type of revival is

possible for Ajay"s policy

A Ordinary revival

B Special revival

C Revival through loan

D Revival through installments

Question 6

What will happen if the policyholder does not pay

the premium by the due date and dies during the

grace period?

A The insurer will consider the policy void due to

non-payment of premium by the due date and

hence reject the claim

B The insurer will pay the claim and waive off the

last unpaid premium

C The insurer will pay the claim after deducting the

unpaid premium

D The insurer will pay the claim after deducting the

unpaid premium along with interest which will be

taken as 2% above the bank savings interest rate

Question 7

Non-forfeiture provision is special provision under

A Indian Insurance Act(Section 113)

B Indian Insurance Act (Section 38)

C Indian Insurance Act (Section 39)

D None of the above

Question 8

When loan is granted against policy

A Nomination ceases

B Policy will be assigned in favor of the insurer

C Death benefit ceases

D Policy becomes paid up

Question 9

Which of statement is true for Revival through loan

for lapsed policies

A Possible with the policies that has acquired

surrender value

B Loan amount is utilized as consideration amount

for revival purpose

C Balance amount subsisting after loan adjustment

towards arrears of premium

D and interest is payable to the policy holder

E All of the above

Question 10

Which of the below statement is false with regards

to nomination?

A Policy nomination is not cancelled if the policy is

assigned to the insurer in return for a loan

B Nomination can be done at the time of policy

purchase or subsequently

C Nomination can be changed by making an

endorsement in the policy

D A nominee has full rights on the whole of the

claim

Question 11

Which of the following statements are true in terms

of revival through installments

A Policy holder is not in a position to pay arrears of

premium in lump sum.

B Policy can not be revived under special revival

scheme

C Arrears of premium can be calculated as per

ordinary revival scheme

D All of the above

Question 12

Which of the below statement is incorrect with

regards to assignment of an insurance policy? I. In

case of Absolute Assignment, in the event of death

of the assignee, the

A In case of Absolute Assignment, in the event of

death of the assignee, the title of the policy would

pass to the estate of the deceased assignee.

B The assignment of a life insurance policy implies

the act of transferring the rights right, title and

interest in the policy (as property) from one person

to another.

C It is necessary that the policyholder must give

notice of assignment to the insurer.

D In case of Absolute Assignment, the policy vests

absolutely with the assignee till maturity, except in

case of death of the insured during the policy

tenure, wherein the policy reverts back to the

beneficiaries of the insured.

Question 13

When is a policy deemed to be lapsed?

A if the premiums are not paid on due date

B If the premiums are not paid before the due date

C If the premium has not been paid even during

days of grace

D If the policy is surrendered

Question 14

The policy can be revived with ordinary revival

measure whose

A 1 year premium paid

B 2 years premiums paid

C 3 years premiums paid

D Policy acquired surrender value

Question 15

The law in India after paying at least 3 consecutive

premiums under Non forfeiture option acquires

A A surrender value

B A Guaranteed surrender value

C A non guaranteed surrender Value

D Paid up value

Question 16

Revival or reinstatement of the policy is not possible

under which of the following conditions

A No increase in risk for insurer

B After 5 years from the date of lapsation

C Policy holders health, financial condition and

moral is satisfactory

D All the overdue premium have been paid with

interest.

Question 17

Which of the below statement is incorrect with

regards to a policy against which a loan has been

taken from the insurance company?

A The policy will have to be assigned in favour of

the insurance company

B The nomination of such policy will get cancelled

due to assignment of the policy in favour of the

insurance company

C The nominee's right will affected to the extent of

the insurer's interest in the policy

D The policy loan is usually limited to a percentage

of the policy's surrender value

Question 18

Which of the following statement is correct in terms

of appointee.

A When the Life to be assured is minor appointee is

required

B When proposer is minor Appointee is required

C When the nominee is minor appointee is required

D None of the above

Question 19

While calculating surrender value The formula takes

in to account

A Age of the policy

B Type and plan of insurance

C Length of the policy premium paying period

D All of the above

Question 20

Which of the following is a major difference

between nomination and assignment

A Assignment is transfer of property while policy

holder is alive and Nomination means transfer of

property when policy holder dies.

B Nomination ceases on assignment

C Assignment has to be witnessed. Where as

nomination is done through endorsement

D All of the above

Question 21

In case of the lapsed policy the only amount

payable by the insurer would be

A Whatever is applicable under the non-forfeiture

provision.

B Whatever is applicable under Guaranteed

surrender value

C Whatever is applicable under Non guaranteed

surrender value

D Insurer will not pay anything

Question 22

Ashish, 35 yr sold has taken an endowment policy

for 20 years in year 2011 and paid premium

annually. He did not paid the further premiums.

Now in 2014 if he wants to revive the policy

A Under special revival measures he can revive the

policy just by paying due premiums with interest

B Under special revival measures he will have to pay

the difference between old and new premiums

C The term of the new policy will be 20 years

D The premium of the new policy will remain

unchanged

Question 23

Which of the following statements are true in terms

of assignment

A Nomination ceases

B The person who transfer the rights called assignor

C The person who receive the rights called assignee

D All of the above

Question 24

The clause Grace Period grants the policy holder

A An additional period of time after the lapsation of

the policy to pay the premiums

B An additional period of time to pay before due

date to pay the premiums

C An additional period of time to pay after due date

to pay the premiums

D None of the above

Question 25

Which of the below alteration will be permitted by

an insurance company?

A Splitting up of the policy into two or more policies

B Extension of the premium paying term

C Change of the policy from with profit policy to

without profit policy

D Increase in the sum assured

Question 26

Policy loan enables

A Policy holder access to liquid funds while keeping

the insurance alive

B Policy holder gets access to liquid funds but the

Insurance ceases

C A debtor and creditor relationship

D The creditor to do credit check

Question 27

When the policyholder is not in a position to pay

arrears of premium in a lump sum and neither can

the policy be revived under special revival scheme,

this is known as

A Installment revival

B Loan cum revival

C Exclusive revival

D None of the above

Question 28

During the revival of a lapsed policy, which of the

below aspect is considered most significant by the

insurance company? Choose the most appropriate

option.

A Evidence of insurability at revival

B Revival of the policy leading to increase in risk for

the insurance company

C Payment of unpaid premiums with interest

D Insured submitting the revival application within a

specified time frame

Question 29

Which of the below statement is correct with

regards to grace period of an insurance policy?

A The standard length of the grace periiod is one

month.

B The standard length of the grace period is 30

days.

C The standard length of the grace periiod is one

month or 30 days.

D The standard length of the grace period is one

month or 31 days.

Question 30

For an insurance policy nomination is allowed under

of the Insurance Act, 1938.

A Section 10

B Section 38

C Section 39

D Section 45

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Question 1

Raghu"s policy was rejected by underwritter as he is

working as a body guard of a businessman with

suspected criminal links. Under which hazard his

policy was rejected

A Occupational hazard due to source of accident

B Occupational hazard due to source of health

hazard

C Occupational hazard due to source of financial

hazard

D Occupational hazard due to source of moral

hazard

Question 2

Which of the below insurance proposal is not likely

to qualify under non-medical underwriting? I.

Savita, aged 26 years, working in an IT company as a

software engineer

A Savita., aged 26 years, working in an IT company

as a software engineer

B Mahesh, aged 50 years, working in a coal mine

C Satish. aged 28 years, working in a bank and has

appried for an insurance cover of Rs. 1 crore

D Pravin, aged 30 years, working in a departmental

store and has applied for an endowment insurance

plan for a tenure of 10 years

Question 3

Cardio vascular disease refers to the disease which

affect

A Heart and circulatory system(Blood)

B Lungs and respiratory system

C Kidney and excretory system

D Stomach, intestine and digestive system

Question 4

Family history involves which of the following

characteristic

A Heredity and longivity of the family

B Habit of chewing tobacco

C working in a chemical factory

D Family religion

Question 5

Why is heredity history of importance in medical

underwriting?

A Rich parents have healthy kids

B Certain diseases can be passed on from parents to

children

C Poor parents have malnourished kids

D Family environment is a critical factor

Question 6

Varsha is a house wife. How much insurance cover

is permissible to her life, if her husband has

insurance of 25 lakh on himself

A 5 to 10 lakh

B 10 to 15 Iakh

C Upto 25 lakh

D 25to 30 Iakh

Question 7

Apt is 35 yrs. old. Working for a mutinational

company having annual income of 5 lakh,he can opt

for Sum assured in the range of

A 25 to 30 lakh

B 50 to 60 Iakh

C 70 to 80 lakh

D Mare than 80 lakh

Question 8

What are the sources of occupational hazards

A Accident

B Health Hazard

C Moral Hazard

D All of the above

Question 9

Which of the following cases is likely to be declined

or postponed by a life insurer?

A Healthy 18 year old

B An obese person

C A person suffering from AIDS

D Housewife with no income of her own

Question 10

Excessive production and reproduction of cells leads

to malignant tumors is called as

A Tuberculosis

B Cancer

C Liver cirrhosis

D Diabetes

Question 11

Under risk classification,_____________ consist of

those whose anticipated mortality corresponds to

the standard lives represented by the mortality

table.

A Standard fives

B Preferred risks

C Sub-standard lives

D Declined lives

Question 12

How much Sum assured is permissible in relation to

the income

A 5to 10 times of the annual income

B 10 to 12 times of the annual income

C 12 to 15 times of the annual income

D 15 to 20 times of the annual income

Question 13

Santosh has applied for a term insurance policy. His

anticipated mortality is significantly lower than

standard lives and hence could be charged a lower

premium. Under risk classification, Santosh will be

classified under ______________

A Standard lives

B Preferre d risks

C Substandard lives

D Declined lives

Question 14

Rating factors in underwriting does not depend on

A Financial situation

B Family History

C No. of members in the family

D Personal history of health and habits

Question 15

Which of the following is not an underwriting

decision?

A Risk acceptance at standard rates

B Declinature of risk

C Postponement of risk

D Claim rejection

Question 16

Sheena is suffering from acute diabetes. She has

applied for an insurance plan. In this case the

underwriter is most likely to use _____________ for

underwriting. Choose the most appropriate option.

A Judgment method

B Numerical method

C Any of the above method since an illness like

diabetes does not play a major role in the

underwriting process

D Neither of the above method as diabetes cases

are rejected outright

Question 17

Conditions for non medical underwriting does not

involve

A Working woman

B House wife beyond permissible sum assured

C Age at entry above 45 within permissible sum

assured

D Emplopyees of reputed firms

Question 18

Which of the following medical factors do not

influence an underwriter"s decision

A Family history

B Personal characteristic

C Spouse"s History

D Personal History

Question 19

Ailment of the renal system involves

A Heart and all the arteries and veins

B Stomach, intestine and liver

C Kidney and other urinary parts

D Brain and vertebral column

Question 20

Which of the following is not a standard age proof?

A Passport

B School leaving certificate

C Horoscope

D Birth certificate

Question 21

Amruta is pregnant. She has applied for a term

insurance cover. Which of the below option will be

the best option to choose for an underwriter to

offer insurance to Amruta? Choose the most likely

option.

A Acceptance at ordinary rates

B Acceptance with extra premium

C Decline the proposal

D Acceptance with a restrictive clause

Question 22

Family history does not involve any of these factors

A Family"s residing environment

B Average longivity of the family

C Religion of the family

D Family"s heredity

Question 23

Which of the following is not a case of moral hazard

A proposal is submitted at a branch focated far

away place of residence of the proposed insured

B A medical examination is done elsewhere even

when a qualified medical examiner is available near

one"s placeof residence

C A stuntman of a film offered high sum assured

D When a proposal is made on another without

having clear insurable interest

Question 24

Which of the following condition will affect a

person's insurability negatively?

A Daily jogs

B Banned substance abuse

C Lazy nature

D Procrastination

Question 25

Which of the following denotes the underwriter's

role in an insurance company?

A Process claims

B Decide acceptability of risks

C Product design architect

D Customer relations manager

Question 26

Which of the following is an example of moral

hazard?

A Stunt artist dies while performing a stunt

B A person drinking copious amounts of alcohol

because he is inured

C insured defaulting on premium payments

D Proposer lying on policy document

Question 27

Which type of hazard is said to exist when proposal

is submitted at a branch located far away from the

place of residence of the proposed insured

A Moral Hazard

B Physical Hazard

C Financial Hazard

D Occupational Hazard

Question 28

Under what method of underwriting does an

underwriter assign positive rating points for all

negative or adverse factors (negative points for any

positive or favourable factors)?

A Judgment

B Arbitrary

C Numerical rating

D Single step

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English IC33 Chapter 15 MockTest

Question 1

Praveen died in a car accident. The beneficiary

submits documents for death claim. Which of the

below document is an additional document

required to be submitted in case of accidental death

as compared to natural death.

A Certificate of burial or cremation

B Treating physician's certificate

C Employer's certificate

D Inquest Report

Question 2

Which of the following statement is correct in

relation to claim?

A A claim is the demand of performance by the

insurer

B A claim arises only when insured event takes

place

C A claim is valid if insured has paid all the

premiums

D All of the above

Question 3

Ajay had taken an insurance polcy with a Critical

Illness Rider ( policy commencement year 2007)

unfortunatelly he was diagnosed of a critical illness..

What, will happen to his insurance policy now?

A Policy contract continues even after the rider

payment

B Policy terminates after Rider Payment

C Policy Sum Assured to the extent of Rider

Payment

D None of the Above

Question 4

Mahesh has bought a life insurance policy with a

critical illness rider. He has made absolute

assignment of the policy in favour of Karan. Mahesh

suffers a heart attack and there is a claim of Rs.

50!000 under the critical illness rider. To whom will

the payment be made in this case?

A Mahesh

B Koran

C The payment will be shared equally by Mahesh

and Karan

D Neither of the two because Mahesh has suffered

the heart attack but the policy is assigned in favour

of Karan.

Question 5

Section 45 of insurance Sector 1938 is applicable

upto ?

A 2 Yrs

B 1 Yrs

C 7 Yrs

D till end of the term

Question 6

Regulations for claim settlement is defined under

A Protection of Policy holder"s interest, 2002

B Insurance Act 1938

C RDA Act, 1999

D DA regulations 2000

Question 7

Ram Purchased an insurance policy of 7 lacy from

ABC co. & died after 3 years. This wonl be treated as

A Invalid Claim

B Non early claim

C Early Claim

D Voidable Claim

Question 8

Which of the below statement best describes the

concept of claim? Choose the most appropriate

option.

A A claim is a request that the insurer should make

good the promise specified in the contract

B A claim is a demand that the insurer should make

good the promise specified in the contract

C A claim is a demand that the insurer should make

good the promise specified in the contract A claim is

a demand that the insured should make good the

commitment specified in the agreement

D A claim is a request that the insured should make

good the promise specified in the agreement

Question 9

Which of the below death claim will be treated as

an early death claim?

A If the insured dies within three years of policy

duration

B If the insured dies within five years of policy

duration

C If the insured dies within seven years of policy

duration

D If the insured dies within ten years of policy

duration

Question 10

Given below is a list of policies. Identify under which

type of policy, the claim payment is made in the

form of periodic payments?

A Money-back policy

B Unit linked insurance policy

C Return of premium policy

D Term insurance policy

Question 11

Interest paid by the insurer for delay in claim

settlement would be

A 0.02

B 2% above the bank rate

C No Interest payable

D 0.0L

Question 12

A Life Assured is missing for the last 7 years, on

which basis will the death claim be settled?

A Court Decree

B Declaration by Nominee

C Declaration by Agent

D Declaration by Employer

Question 13

Time to settle claims as per IRDA Regulations is

_____________

A 15 Days

B 30 Days

C 60 Days

D 120 Days

Question 14

Given below is a list of documents to be submitted

for a normal death claim by all beneficiaries in the

event of death of life insured. Pick the odd one out

which is additionally required to be submitted only

in case of death by accident.

A Inquest report

B Claim form

C Certificate of burial or cremation

D Hospital's certificate

Question 15

________________ leads to the termination of

insurance cover under the contract?

A Money Back & Installment Claim

B Death Claim

C Critical Illness Claim

D None of the Above

Question 16

Under Sec 47 of insurance Act 1938 when claim is

ready for payment but cannot be paid due lack of

proper identification of the payee, Interest payable

would be?

A 2% over Bank Rate

B Bank Rate

C No Fnterest payable

D 4% over Bank Rate

Question 17

Shankar bought a 10 year Unit Linked Insurance

Plan. If he dies before the maturity of the policy

which of the below will be paid?

A Lower of sum assured or fund vaiue

B Higher of sum assured or fund value

C Premiums paid will be returned with 2% higher

interest rate as compared to a bank's savings

deposit

D Surrender value

Question 18

Given below are some events that will trigger

survival claims. Identify which of the below

statement is incorrect?

A Claim paid on maturity of a term insurance policy

B An instalment payable upon reaching the

milestone under a money-back policy

C Claim paid for critical illnesses covered under the

policy as a rider benefit

D Surrender value paid on surrender of an

endowment policy by the policyholder

Question 19

In which insurance plan only the premiums paid

over the term are returned back?

A Unit Linked lnsuance Plan

B Participating Plans

C Return of Premium Plan

D Money Back

Question 20

A person is pre- assumed to be dead if not been

heard from the last __________ yrs

A 7 yrs

B 5 yrs

C 2 yrs

D 10 yrs

Question 21

Which of the following claims are easily

established?

A Death Claim

B Rider Claim

C Maturity & Money Back installments

D Surrender Value Payments

Question 22

The act which provides for presumption of death is

A Insurance Act 1938

B I,RDA Act 1999

C IRDA ReguEaton 2000

D Indian Evidence Act

Question 23

As per IRDA (Protection of Policyholders Interests)

Regulations, 2002, a claim under a life policy shall

be paid or be disputed, within 30 days from the

date of receipt of all relevant papers and

clarifications required.

A 7 days

B 15 days

C 30 days

D 45 days

Question 24

A payment made under a money-back policy upon

reaching a milestone will be classified under which

type of claim?

A Death claim

B Maturity claim

C Periodical survival claim

D Surrender claim

Question 25

Ram has taken a plan of 10 Lacs from ABC Ltd. On

1st June 2010. He died on 20th June 2014 without

paying the due premiums of Rs. 30,000. Bonus

accumulated during the period was 50,000. Death

benefit payable is?

A 10,00,000

B 10,50,000

C 10,20,000

D 10,80,000

Question 26

Based on classification of claims (early or non-

early), pick the odd one out?

A Ramya dies after 6 months of buying a term

insurance plan

B Mario dies after one and half years of buying a

term insurance plan

C David dies after two and half years of buying a

term insurance plan

D Pravin dies after five and half years of buyinci a

term insurance plan

Once you are finished, click the button below. Any

items you have not completed will be marked

incorrect.

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