ic 33 questions

Summary of IRDA Question Set

Chapter SET - 01

Ch 01 6% 3 11 9Ch 02 6% 3 8 4Ch 03 18% 9 46 15Ch 04 8% 4 20 7Ch 05 4% 2 28 16Ch 06 10% 5 23 7Ch 07 8% 4 29 9Ch 08 6% 3 10 6Ch 09 4% 2 14 4Ch 10 8% 4 16 5Ch 11 8% 4 14 7Ch 12 2% 1 9 4Ch 13 4% 2 6 2Ch 14 4% 2 16 8Ch 15 4% 2 4 0Grand Total 100% 50 254 103

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e

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Summary of IRDA Question Set

SET - 02

24

3113121620

41011

75484

151

TAG-ID SR.NO Chapter

QB1-IRF-Ch 01-01-PS 1 01 Ch 01

QB1-IRF-Ch 01-02-PS 1 02 Ch 01

QB1-IRF-Ch 01-03-PS 1 03 Ch 01

QB1-IRF-Ch 01-04-PS 1 04 Ch 01

QB1-IRF-Ch 01-05-PS 1 05 Ch 01

QB1-IRF-Ch 01-06-PS 1 06 Ch 01

QB1-IRF-Ch 01-07-PS 1 07 Ch 01

QB1-IRF-Ch 01-08-PS 1 08 Ch 01QB1-IRF-Ch 01-09-PS 1 09 Ch 01

QB2-IRF-Ch 01-10-PS 2 10 Ch 01

QB2-IRF-Ch 01-11-PS 2 11 Ch 01

QB1-IRF-Ch 02-12-PS 1 12 Ch 02

QB1-IRF-Ch 02-13-PS 1 13 Ch 02

QB1-IRF-Ch 02-14-PS 1 14 Ch 02

QB1-IRF-Ch 02-15-PS 1 15 Ch 02

QB2-IRF-Ch 02-16-PS 2 16 Ch 02

QB2-IRF-Ch 02-17-PS 2 17 Ch 02

QB2-IRF-Ch 02-18-PS 2 18 Ch 02

QB2-IRF-Ch 02-19-PS 2 19 Ch 02

QB1-IRF-Ch 03-20-PS 1 20 Ch 03

QB1-IRF-Ch 03-21-PS 1 21 Ch 03

QB1-IRF-Ch 03-22-PS 1 22 Ch 03

QB1-IRF-Ch 03-23-PS 1 23 Ch 03

QB1-IRF-Ch 03-24-PS 1 24 Ch 03

Question Set

QB1-IRF-Ch 03-25-PS 1 25 Ch 03

QB1-IRF-Ch 03-26-PS 1 26 Ch 03

QB1-IRF-Ch 03-27-PS 1 27 Ch 03

QB1-IRF-Ch 03-28-PS 1 28 Ch 03

QB1-IRF-Ch 03-29-PS 1 29 Ch 03

QB1-IRF-Ch 03-30-PS 1 30 Ch 03

QB1-IRF-Ch 03-31-PS 1 31 Ch 03QB1-IRF-Ch 03-32-PS 1 32 Ch 03QB1-IRF-Ch 03-33-PS 1 33 Ch 03

QB1-IRF-Ch 03-34-PS 1 34 Ch 03

QB2-IRF-Ch 03-35-PS 2 35 Ch 03

QB2-IRF-Ch 03-36-PS 2 36 Ch 03

QB2-IRF-Ch 03-37-PS 2 37 Ch 03

QB2-IRF-Ch 03-38-PS 2 38 Ch 03

QB2-IRF-Ch 03-39-PS 2 39 Ch 03

QB2-IRF-Ch 03-40-PS 2 40 Ch 03

QB2-IRF-Ch 03-41-PS 2 41 Ch 03

QB2-IRF-Ch 03-42-PS 2 42 Ch 03

QB2-IRF-Ch 03-43-PS 2 43 Ch 03

QB2-IRF-Ch 03-44-PS 2 44 Ch 03

QB2-IRF-Ch 03-45-PS 2 45 Ch 03

QB2-IRF-Ch 03-46-PS 2 46 Ch 03

QB2-IRF-Ch 03-47-PS 2 47 Ch 03

QB2-IRF-Ch 03-48-PS 2 48 Ch 03

QB2-IRF-Ch 03-49-PS 2 49 Ch 03

QB2-IRF-Ch 03-50-PS 2 50 Ch 03

QB2-IRF-Ch 03-51-PS 2 51 Ch 03

QB2-IRF-Ch 03-52-PS 2 52 Ch 03

QB2-IRF-Ch 03-53-PS 2 53 Ch 03

QB2-IRF-Ch 03-54-PS 2 54 Ch 03

QB2-IRF-Ch 03-55-PS 2 55 Ch 03

QB2-IRF-Ch 03-56-PS 2 56 Ch 03

QB2-IRF-Ch 03-57-PS 2 57 Ch 03


QB2-IRF-Ch 03-60-PS 2 60 Ch 03

QB2-IRF-Ch 03-61-PS 2 61 Ch 03

QB2-IRF-Ch 03-62-PS 2 62 Ch 03

QB2-IRF-Ch 03-63-PS 2 63 Ch 03

QB2-IRF-Ch 03-64-PS 2 64 Ch 03

QB2-IRF-Ch 03-65-PS 2 65 Ch 03

QB1-IRF-Ch 04-66-PS 1 66 Ch 04

QB1-IRF-Ch 04-67-PS 1 67 Ch 04

QB1-IRF-Ch 04-68-PS 1 68 Ch 04

QB1-IRF-Ch 04-69-PS 1 69 Ch 04

QB1-IRF-Ch 04-70-PS 1 70 Ch 04

QB1-IRF-Ch 04-71-PS 1 71 Ch 04


QB2-IRF-Ch 04-74-PS 2 74 Ch 04

QB2-IRF-Ch 04-75-PS 2 75 Ch 04

QB2-IRF-Ch 04-76-PS 2 76 Ch 04

QB2-IRF-Ch 04-77-PS 2 77 Ch 04

QB2-IRF-Ch 04-78-PS 2 78 Ch 04

QB2-IRF-Ch 04-79-PS 2 79 Ch 04

QB2-IRF-Ch 04-80-PS 2 80 Ch 04

QB2-IRF-Ch 04-81-PS 2 81 Ch 04

QB2-IRF-Ch 04-82-PS 2 82 Ch 04

QB2-IRF-Ch 04-83-PS 2 83 Ch 04

QB2-IRF-Ch 04-84-PS 2 84 Ch 04

QB2-IRF-Ch 04-85-PS 2 85 Ch 04

QB1-IRF-Ch 05-86-PS 1 86 Ch 05

QB1-IRF-Ch 05-87-PS 1 87 Ch 05

QB1-IRF-Ch 05-88-PS 1 88 Ch 05

QB1-IRF-Ch 05-89-PS 1 89 Ch 05

QB1-IRF-Ch 05-90-PS 1 90 Ch 05

QB1-IRF-Ch 05-91-PS 1 91 Ch 05

QB1-IRF-Ch 05-92-PS 1 92 Ch 05

QB1-IRF-Ch 05-93-PS 1 93 Ch 05

QB1-IRF-Ch 05-94-PS 1 94 Ch 05

QB1-IRF-Ch 05-95-PS 1 95 Ch 05

QB1-IRF-Ch 05-96-PS 1 96 Ch 05

QB1-IRF-Ch 05-97-PS 1 97 Ch 05

QB1-IRF-Ch 05-98-PS 1 98 Ch 05

QB1-IRF-Ch 05-99-PS 1 99 Ch 05

QB1-IRF-Ch 05-100-PS 1 100 Ch 05

QB1-IRF-Ch 05-101-PS 1 101 Ch 05

QB2-IRF-Ch 05-102-PS 2 102 Ch 05

QB2-IRF-Ch 05-103-PS 2 103 Ch 05

QB2-IRF-Ch 05-104-PS 2 104 Ch 05

QB2-IRF-Ch 05-105-PS 2 105 Ch 05

QB2-IRF-Ch 05-106-PS 2 106 Ch 05

QB2-IRF-Ch 05-107-PS 2 107 Ch 05

QB2-IRF-Ch 05-108-PS 2 108 Ch 05

QB2-IRF-Ch 05-109-PS 2 109 Ch 05

QB2-IRF-Ch 05-110-PS 2 110 Ch 05

QB2-IRF-Ch 05-111-PS 2 111 Ch 05

QB2-IRF-Ch 05-112-PS 2 112 Ch 05

QB2-IRF-Ch 05-113-PS 2 113 Ch 05

QB1-IRF-Ch 06-114-PS 1 114 Ch 06

QB1-IRF-Ch 06-115-PS 1 115 Ch 06

QB1-IRF-Ch 06-116-PS 1 116 Ch 06

QB1-IRF-Ch 06-117-PS 1 117 Ch 06

QB1-IRF-Ch 06-118-PS 1 118 Ch 06

QB1-IRF-Ch 06-119-PS 1 119 Ch 06

QB1-IRF-Ch 06-120-PS 1 120 Ch 06

QB2-IRF-Ch 06-121-PS 2 121 Ch 06

QB2-IRF-Ch 06-122-PS 2 122 Ch 06

QB2-IRF-Ch 06-123-PS 2 123 Ch 06

QB2-IRF-Ch 06-124-PS 2 124 Ch 06

QB2-IRF-Ch 06-125-PS 2 125 Ch 06

QB2-IRF-Ch 06-126-PS 2 126 Ch 06

QB2-IRF-Ch 06-127-PS 2 127 Ch 06

QB2-IRF-Ch 06-128-PS 2 128 Ch 06

QB2-IRF-Ch 06-129-PS 2 129 Ch 06

QB2-IRF-Ch 06-130-PS 2 130 Ch 06

QB2-IRF-Ch 06-131-PS 2 131 Ch 06

QB2-IRF-Ch 06-132-PS 2 132 Ch 06

QB2-IRF-Ch 06-133-PS 2 133 Ch 06

QB2-IRF-Ch 06-134-PS 2 134 Ch 06

QB2-IRF-Ch 06-135-PS 2 135 Ch 06

QB2-IRF-Ch 06-136-PS 2 136 Ch 06

QB1-IRF-Ch 07-137-PS 1 137 Ch 07

QB1-IRF-Ch 07-138-PS 1 138 Ch 07

QB1-IRF-Ch 07-139-PS 1 139 Ch 07

QB1-IRF-Ch 07-140-PS 1 140 Ch 07

QB1-IRF-Ch 07-141-PS 1 141 Ch 07

QB1-IRF-Ch 07-142-PS 1 142 Ch 07

QB1-IRF-Ch 07-143-PS 1 143 Ch 07

QB1-IRF-Ch 07-144-PS 1 144 Ch 07

QB1-IRF-Ch 07-145-PS 1 145 Ch 07

QB2-IRF-Ch 07-146-PS 2 146 Ch 07

QB2-IRF-Ch 07-147-PS 2 147 Ch 07

QB2-IRF-Ch 07-148-PS 2 148 Ch 07QB2-IRF-Ch 07-149-PS 2 149 Ch 07QB2-IRF-Ch 07-150-PS 2 150 Ch 07

QB2-IRF-Ch 07-151-PS 2 151 Ch 07

QB2-IRF-Ch 07-152-PS 2 152 Ch 07

QB2-IRF-Ch 07-153-PS 2 153 Ch 07

QB2-IRF-Ch 07-154-PS 2 154 Ch 07

QB2-IRF-Ch 07-155-PS 2 155 Ch 07

QB2-IRF-Ch 07-156-PS 2 156 Ch 07

QB2-IRF-Ch 07-157-PS 2 157 Ch 07

QB2-IRF-Ch 07-158-PS 2 158 Ch 07

QB2-IRF-Ch 07-159-PS 2 159 Ch 07

QB2-IRF-Ch 07-160-PS 2 160 Ch 07

QB2-IRF-Ch 07-161-PS 2 161 Ch 07

QB2-IRF-Ch 07-162-PS 2 162 Ch 07

QB2-IRF-Ch 07-163-PS 2 163 Ch 07

QB2-IRF-Ch 07-164-PS 2 164 Ch 07

QB2-IRF-Ch 07-165-PS 2 165 Ch 07

QB1-IRF-Ch 08-166-PS 1 166 Ch 08

QB1-IRF-Ch 08-167-PS 1 167 Ch 08

QB1-IRF-Ch 08-168-PS 1 168 Ch 08

QB1-IRF-Ch 08-169-PS 1 169 Ch 08

QB1-IRF-Ch 08-170-PS 1 170 Ch 08

QB1-IRF-Ch 08-171-PS 1 171 Ch 08

QB2-IRF-Ch 08-172-PS 2 172 Ch 08

QB2-IRF-Ch 08-173-PS 2 173 Ch 08

QB2-IRF-Ch 08-174-PS 2 174 Ch 08

QB2-IRF-Ch 08-175-PS 2 175 Ch 08

QB1-IRF-Ch 09-176-PS 1 176 Ch 09

QB1-IRF-Ch 09-177-PS 1 177 Ch 09

QB1-IRF-Ch 09-178-PS 1 178 Ch 09

QB1-IRF-Ch 09-179-PS 1 179 Ch 09

QB2-IRF-Ch 09-180-PS 2 180 Ch 09

QB2-IRF-Ch 09-181-PS 2 181 Ch 09

QB2-IRF-Ch 09-182-PS 2 182 Ch 09

QB2-IRF-Ch 09-183-PS 2 183 Ch 09

QB2-IRF-Ch 09-184-PS 2 184 Ch 09

QB2-IRF-Ch 09-185-PS 2 185 Ch 09

QB2-IRF-Ch 09-186-PS 2 186 Ch 09

QB2-IRF-Ch 09-187-PS 2 187 Ch 09

QB2-IRF-Ch 09-188-PS 2 188 Ch 09

QB2-IRF-Ch 09-189-PS 2 189 Ch 09

QB1-IRF-Ch 10-190-PS 1 190 Ch 10

QB1-IRF-Ch 10-191-PS 1 191 Ch 10

QB1-IRF-Ch 10-192-PS 1 192 Ch 10

QB1-IRF-Ch 10-193-PS 1 193 Ch 10

QB1-IRF-Ch 10-194-PS 1 194 Ch 10

QB2-IRF-Ch 10-195-PS 2 195 Ch 10

QB2-IRF-Ch 10-196-PS 2 196 Ch 10

QB2-IRF-Ch 10-197-PS 2 197 Ch 10

QB2-IRF-Ch 10-198-PS 2 198 Ch 10

QB2-IRF-Ch 10-199-PS 2 199 Ch 10

QB2-IRF-Ch 10-200-PS 2 200 Ch 10

QB2-IRF-Ch 10-201-PS 2 201 Ch 10

QB2-IRF-Ch 10-202-PS 2 202 Ch 10

QB2-IRF-Ch 10-203-PS 2 203 Ch 10

QB2-IRF-Ch 10-204-PS 2 204 Ch 10

QB2-IRF-Ch 10-205-PS 2 205 Ch 10

QB1-IRF-Ch 11-206-PS 1 206 Ch 11

QB1-IRF-Ch 11-207-PS 1 207 Ch 11

QB1-IRF-Ch 11-208-PS 1 208 Ch 11

QB1-IRF-Ch 11-209-PS 1 209 Ch 11

QB1-IRF-Ch 11-210-PS 1 210 Ch 11

QB1-IRF-Ch 11-211-PS 1 211 Ch 11

QB1-IRF-Ch 11-212-PS 1 212 Ch 11

QB2-IRF-Ch 11-213-PS 2 213 Ch 11

QB2-IRF-Ch 11-214-PS 2 214 Ch 11

QB2-IRF-Ch 11-215-PS 2 215 Ch 11

QB2-IRF-Ch 11-216-PS 2 216 Ch 11

QB2-IRF-Ch 11-217-PS 2 217 Ch 11

QB2-IRF-Ch 11-218-PS 2 218 Ch 11

QB2-IRF-Ch 11-219-PS 2 219 Ch 11

QB1-IRF-Ch 12-220-PS 1 220 Ch 12

QB1-IRF-Ch 12-221-PS 1 221 Ch 12


QB2-IRF-Ch 12-224-PS 2 224 Ch 12

QB2-IRF-Ch 12-225-PS 2 225 Ch 12

QB2-IRF-Ch 12-226-PS 2 226 Ch 12

QB2-IRF-Ch 12-227-PS 2 227 Ch 12

QB2-IRF-Ch 12-228-PS 2 228 Ch 12

QB1-IRF-Ch 13-229-PS 1 229 Ch 13


QB2-IRF-Ch 13-232-PS 2 232 Ch 13

QB2-IRF-Ch 13-233-PS 2 233 Ch 13

QB2-IRF-Ch 13-234-PS 2 234 Ch 13

QB1-IRF-Ch 14-235-PS 1 235 Ch 14

QB1-IRF-Ch 14-236-PS 1 236 Ch 14

QB1-IRF-Ch 14-237-PS 1 237 Ch 14

QB1-IRF-Ch 14-238-PS 1 238 Ch 14

QB1-IRF-Ch 14-239-PS 1 239 Ch 14

QB1-IRF-Ch 14-240-PS 1 240 Ch 14

QB1-IRF-Ch 14-241-PS 1 241 Ch 14

QB1-IRF-Ch 14-242-PS 1 242 Ch 14

QB2-IRF-Ch 14-243-PS 2 243 Ch 14

QB2-IRF-Ch 14-244-PS 2 244 Ch 14

QB2-IRF-Ch 14-245-PS 2 245 Ch 14

QB2-IRF-Ch 14-246-PS 2 246 Ch 14

QB2-IRF-Ch 14-247-PS 2 247 Ch 14

QB2-IRF-Ch 14-248-PS 2 248 Ch 14

QB2-IRF-Ch 14-249-PS 2 249 Ch 14

QB2-IRF-Ch 14-250-PS 2 250 Ch 14

QB2-IRF-Ch 15-251-PS 2 251 Ch 15

QB2-IRF-Ch 15-252-PS 2 252 Ch 15

QB2-IRF-Ch 15-253-PS 2 253 Ch 15

QB2-IRF-Ch 15-254-PS 2 254 Ch 15

Question

Who is the customer of a Re insurer

Which market areas do Micro Insurance product concentrate

What are the benefits in investing in insurance plans ?

What is IRDA & its Responsibilities

What is IRDA stands for & year of Incorporation

Why is Insurance requiredWhen was IRDA formed??

Law of large number helps Insurer to analyse which key area

Which statement is correct?

Which of the following risks are insurable?

The type of risk that can be insured against is

Insurance is a mechanism of

When does cooling off period begin in an insurance policy?

Weekly premiums are generally collected for which type/range of plans

What facility do insurers use to cover risks beyond their exposure limits

Insurance company selling products through newspaper advertisements is called

Sanjeev is an insurance expert who has rich experience in determining premium levels for product, what is his profile like

What is the death benefit if the person has multiple sums assured under different policies?

Sahil & Vijay , both health status same, however Vijay was triggered with medicals. What are the reasons?

In insurance terms, the risk of suffering a disability is best described as what type of risk?

A client has taken an endowment policy with SA- 800000 and vested bonuses- 60000. He paid 8 annual premiums in the 30 year plan. Calculate paid-up SA?

When is insurable interest required in an life insurance contract? A claim intimation leads to the publishing of an advertisement in the newspaper. This meansA policy has two nominations. What amount should be given to the two nominees

Jay buys a policy on the life of Nazia. Who is Jay?

The risk commencement date of policy isPrinciple of Indemnity applicable to........... is the basis of contract

The insurance cover Starts after the issue of

Appointee's role

Limit of nominees can be attached to a term insurance policy

Reasons for surrender of the policy

Types of assignment

what is the min age to enter into the contract of insurance

Mr. X is illiterate and is buying insurance. Mr. Y fill up the proposal form on behalf of Mr. X and also endorses and signs an attestation in the proposal form. In addition to all document what else should be taken

On Maturity of an insurance policy only 25% of the amount can is paid. This is due to

A person paying 1 lakh yearly premium discontinue the policy after the first year premium and surrender the same on the second year what will be the surrender value

A Client can reject a policy after how many days of receiving the same. For Logging a policy which document is more preferable Baptism Certificate or Ration Card as age proof?

A & B in enters into a Contract & B accepts the Contract with a condition. Will this be considered as a Contract Between A & B?The condition that the policy holder should pay the premiums regularly is mentioned in

Except Surrender, how one policy holder can transfer money to a third party , barring Nominee?

Insurance Contract without any Insurable Interest will result?

a Policy holder takes a insurance contract for 30 years and the SA reduces after 25 years what could be the likely reason

Amit is illiterate. He wants to take policy his friend Surya help him in knowing the question and filling the proposal form. What extra requirement is required in this caseA life insurance policy can only be made paid up if what particular policy feature exists?

Harish takes a life insurance policy for Ramesh. Which of the following statement best describes the principle of Insurable Interest.

In a whole life plan - The policyholder's responsibility to give disclosure

Mr. ABC buying Term insurance policy, insurer should mention Ombudsman address in which part of policy document?

To be a valid contract ,the declaration is necessary in which document

why does an insurer insist on age proof document . To assess

Changes in policy can be made by

Indisputability clause is applicable for Insurable interest on one's own life limited upto

When does insurable interest exist?

How much insurance can be given to a working person ?

Which of the following statements is correct?Till what period is the interim bonus valid

A policy document for a money-back policy includes the statement ‘the proposal and declaration signed by the proposer form the basis of the contract’. In which main section of the policy document will this normally appear?

If someone of age group 15 /16 having a contract with insurance companies that contract would fall under which category The obligation of the insurer for the whole life policy is mentioned inHusband and wife jointly taking insurance policy what is the reason that they need not mention nominee under this insurance policyIn which kind of policy the insurable interest should exist at the time of claim only

Two endowment policies A and B are issued in the same time on the quarterly mode. In both the policies 22 quarterly installments are paid. Both are surrendered immediately after paying 22nd installment. But in policy A surrender value is significantly higher than policy B because

What is the minimum age of the customer for entering the Insurance contract?When will the Principle of Utmost Good faith apply in Term insurance plan?A policy was earlier issued with premium extra, where are the details of the customer availableAn agent surrendered the policy of a client on 10 Feb. 2011, when can this client buy new plan?

While underwriting Mr. X proposal form it is found out that there is a criminal case against him for fraudulent activities. What type of risk would this fall in

While calculating Human life value (HLV) two components need to be kept in mind , the one is take home salary and other is Two People with same term, one person had more premium than others because TWO FRIENDS HAVE TAKEN SAME POLICY BUT THEIR PREMIUMS ARE DIFFERENT WHY?In a 20 year with profit policy, persistency Bonus is paid at the end of

Annual premium of insurance product is Rs. 32,000, 4% loading on Quarterly mode of payment What is the quarterly premium?

Investment by NRI(Non Resident Indian) will be

why ACR required?

A human being is

Proposal decision to be communicated to the client with in

Who is the primary underwriter of the clients

In which policy can policy holder take loan ?

State which of the following statements are correct?

As per the norms of risk assessment by U/W both the parents of a policy holder died in their early 30s due to Heart disease, what is the risk assessed

Mr.Sunil is doing premium calculation for his company, as per which authority is his profession related towhat is the special report that is asked by the underwriter from the officer of the insurer

Claim was settled however full Sum assured not paid though the policy was in force due toMr. A wants insurance cover . But he is drinks alcohol frequently . What kind of hazard you may categorize?Insurer appoints a candidate of this professional qualification ,who decides the amount of premium in insurance products

When an interim bonus is paid under with profit policy, This normally represents a bonus covering what periodWhat tax rate, if any, will be applicable to a life insurance policy holder for the maturity proceeds of a Rs 50,000 life insurance policy What is maximum level of Insurance premium for which Income Tax benefit is available

Mr. X wants a life cover for the term of 20 Yrs. Also he wants a modest amount if he survives through the term. Which plan should he buy

Which plan will suits a customer need who is just looking for protection of family.If 50000 is invested in Single Premium ULIP than what will be the minimum SA applicable?What is the maximum cover that can be provided in micro insurance?

Mr. A has a son who is 5 yrs and he wants to save funds for his education. Both the parents are risk adverse. Which plan is suitable for them?

A Couple has 7 year kid & wants to Buy some Policy. Which is the best suitable policy for his Son?

Micro insurance is transacted by

Adverse selection occurs when a group of individuals try to

Term insurance if best suited for the following need

In endowment policy we give SA + Bonus-

ULIP & NSC which is giving more tax benefit

ULIP & NSC which is giving tax benefit u/s 80C

Ajay is 35 years old and works for a multinational corporation (MNC). He has a ten-year-old son, Vijay, whom he dreams will one day become a doctor. Ajay’s spouse is a housewife, and his parents are retired and dependent on him. Ajay has a home loan of 40Lakhs. He has an endowment plan with a cover of 2Lakhs only. What is most immediate need for Insurance

Client has taken Joint Life Policy.. Whose responsible in the contract?

If a person has taken a Pure Endowment Policy, then what will be the death benefit if he dies during term of policy?

Two People of the same policy Term, one person pays more premium because

If raju wants to accumulate a lump sum for 20 yrs but does not require life cover, which policy will be suitable? In a joint life plan for a husband & wife, where should the agent' principal loyalty lay? Hari wants a constant life cover till his 31st birthday. But he cant afford to pay high premiums. The best suited products for him would bewhat is the special feature of ULIP that ensures customer risk profile for long time insurance policiesAt the time of maturity , quarter of the SA is paid though the policy was in forceRahul has taken a joint life policy with his wife .Who is responsible for premium payment ?

Krishna and Laxmi are married having 7 years old child. Which policy will satisfy the long term protection needs for both

A group of people insured in a policy . They belong to which category

Which factor needs to be kept in mind before deciding a child policy ?

Suresh wants to transfer his physical gold to gold exchange traded fund, in relation to access, this change will

The advantage/disadvantages within cumulative and fixed traditional deposits pertain to-Ajay is 35 years old and works for a multinational corporation (MNC) **Ajay salary is 80,000 he want home lone. what is maximum installment?

Under which section of the Income Tax Act can an individual get a deduction from taxable income for theWhat period of time a client has to be invested to get tax benefit under postal scheme?

A person planning to invest in Kisan Vikas Patra will go to

Kishan Vikas 's payment gets cleared at

RBI increased interest rates 2 times, then the stock prices will

What frequencies can one take in annuity

If a person is going to face jobless for a temporary period, then what is the ideal instrument to invest money apart from Bank FD?

Mr. X Invested in a Bank FD with 6% Return, However his actual returns deemed to be 4% What are the reasons ?

A person Wants to invest in a FD for Tax benefit , How many years he has to take the term of the FD ?

aditya wants to take home loan and his monthly take home is 80,000 what as a best practice should be the maximum EMI

A customer while investing in to Recurring deposit or Cumulative deposit what are the key factors which will matter

A person is holding 100 units of GOLD ETF certificates . How many grams of GOLD does he Have ?

Manoj a 26 year old is having 7 years old son. What will happen to his monthly disposable income after 15 years of job

Ramesh has invested in Post office Monthly Income Scheme. The interest rate was set at 6%. What will be the effect of rate till the maturity.If a person chooses Cumulative deposit than Recurring deposit ,difference will be in

Rahul switch from direct holding of shares to equity based mutual funds. The impact on risk would be

Raj and akshat of same age are paying the same annual premium for the health policy taken on the same date for the same term. But raj is getting higher deduction for income tax as compared to akshat

Raj is married with two children. Age 9 and 11 years. What should be the last priority for him among the life, health , retirement and child investment policy What is the frequency of interest in Cumulative deposit account What is the amount of money a client can take out as a lump-sum from a pension policy?

Omkar Started a pension policy with provider A but ended up in taking the annuity payment from provider B.The result directly reflect the which feature available with this policy

Denny is married and has 2 children age 6 and 10. His parents are alive and are 70 and 68. Who all can be included under the family floater health planCritical illness rider was taken and the rider benefit has been claimed , the rider benefit now getsIn a Guaranteed annuity option of 5 years , the policy holder will get annuity till

Why is there a waiting period in health insurance policies?

How is No Claim Bonus is given in a Health Insurance Policy

What is importance of Health insurance?

What are the Special features of Health plan? What will be maturity benefit under health insurance planWhich is the suitable savings plan for a senior citizen

Claim Amount received under CIBR Rider ,can be spend for

commutation is a feature of which type of policy

A person retiring within 3 months need return as pension. What kind of investment plan he need to choose.

An individual need a lump sum at the age of retirement, the amount he need to invest annually for the goal will depend on

What could be the percentage of guaranteed return in all ULIP pension plan.A person has taken a term insurance of 4 Lac. What is the maximum Critical Illness Rider he can take

Mr. Sharma buy term insurance policy along with Accident and Disability benefits rider cost restricted upto the base premium of the policy?Mr.Ramesh invested Rs:50000 in pension policy, what is the percentage he can avail as exemption in Income tax.Mr.Sumesh takes a policy and pays premium of 20000 with a sum assured of 300000, what will be the tax implication on his maturity amountYash wants to take open market option in Pension plan. What is the benefit?In rising life expectancy the need for pension policy is increasing as retirement planning is Ramesh wants to buy 15 years pension plan for retirement while calculating gaps required at the end the gratuity amount was completely ignored because he is

While calculating pension figures, required at the time of retirement, two factors should be considered while planning, One is taxation and other isA invested money in Sr Citizen scheme. What is the tax benefit he receives?

If Rs.30000/- has been invested in insurance for tax benefit than how many years does one have to wait for maturity ?

Mr.Arvind has 2 children aged 13 & 15, he wants to buy 2 health plans, one for himself & one for his wife, what will you recommend.Which fund needs to be selected to receive a 4.5% guarantee on Pension ? In which of the recognized life stages an individual does not required any protection cover

What to be considered while taking first policy

The main protection need of a 19-year-old is most likely to be

With profit policies can be given to

Fact Find Process helps to

A Person Need to do Estate Planning when

Which plan should an agent suggest

Mr. X fact find shows he need a term insurance for his future income protection, A family health plan to cover medical needs, a children's plan to cover his son's education and a endowment policy for his daughter's marriage. Which of these is the first priority

Why need do self employed people have to buy medical insurance than that of a person employed with a public sector companyA family consisting of husban,wife and two children aged 6 and 10 what kind of insurance plan can be suggested ?Rajiv is married & has 4 year old son. Which insurance plan is suitable for him?

Samir is married and he has only one partner, with dependant parents and no child, which should be his priority

The sole focus during a client’s fact-find session was healthcare requirements and estate planning. Which main life stage is he most likely to fall into?

Benefit Illustration given to a customer quantifies an amount by which investment return is reduced. This reduction reflect the impact of

In a fact find, a couple discovered their need to be estate planning? In what life stage will they be in?Mr. Prasanth 25 Age Govt: job, Bachelor - how many years policy can be givenSanju & vikram are both 22 yrs old. Sanju has dependent parents and vikram has no dependants. What will be sanju’s preference over vikram’s preference?A Couple has 7 years old son, What solution would they be looking for The commission payable in a ULIP plan to the Advisors is mention in...

An agent has recommended an investment product with non-guaranteed benefits. The benefit illustration passed to his client will therefore use assumed annual growth rates of

The rates of assumed annual growth to be shared in the benefit illustration has been decided by which of the authority

While recommending a solution to the client, the advisor should, establish the link between, client needs andA 38 year old married with 2 children, her husband dies and left huge legacy behind. What should be top priority?

An agent should disclose the commission if

Churning is considered bad for a customer. Why is it?

Churning is bad , based on which aspect

Higher persistency to the insurer ensures what ?

A satisfied client will lead to

If Sales Target get reduced then Churning will

An advisor will do a churn to

A young couple wants to invest for their daughter, and their income will increase with time horizon and suggest investment plan?

The best way to prove that customer of a ULIP policy is given awareness about the commission paid to the agent is

An agent reveals the commission received from Insurance sales to X and Y. Both are for the same duration. Why is commission of X far higher than commission received for Y

Nikhil explaining ULIP plan to a customer doesn't know answer of a doubt regarding the product that the customer has. What should he do?

What is the reason , that an advisor is getting more than 35% Commission in the 1st Year?

Persistency =has increased from 82 % in previous year to 86 % this year . That means

An Agent can receive maximum of ________ %of the premium as commission in the first yearCustomer asks the agent to disclose the commission . The agent should

Advisor motivate the client to surrender the existing Endowment plan and buy new Whole life policy for gaining higher commission, is the example of?

What are the key aspects of advisors do for better persistency?If a person is missing then after how many years will he be considered as dead & SA paid to the nominee.What is the death benefit if the person has multiple sums assured under different policies?Client died in 89th day from DOC. In which category he is not eligible for claim Mr. Customer has taken a policy and died before receiving the document which was dispatched by the insurer.In a claim, the customer got much more than the Sum Assured. Why?Without submitting any form of claim, a life insurance policy holder received payments of maturity then what type of policy he is holdingIf a person is absconding then after how many years will he be considered as dead & SA paid to the nominee.No of days in which the death claim has to be paid after the necessary documents have been received

Which institution was incorporated by the Insurance Act 1938

The controller of insurance in India is Who is regulating Advisor's Licencing

Consumer Forum at district level will hear complaints up to

What is the eligible age for Life Insurance Agent?Board of Insurance is related to

basic qualifications of agent

What is the role of National Insurance Academy?

When was Ombudsmen Created?

Matters referring to ombudsman?

Mr.Suresh dies one day before the grace period without paying the premium, what is the claim payable

The delay in settling claim by any insurance co, as per IRDA norms has to pay....% if the present bank interest rate is 5.2%

What is the maximum Time in which The insurer should settle a claim when all documents are submitted During claim insurer deduct Rs. 10,000 in spite of having no Lien and all due premiums are paid. What are the other reason for deducting the same?In case of confirmed accidental death, the benefit is paid in the form of Under Indian Evidence Act 1872, after which year presumption clause will apply if the person is not heard of

License of candidate passing insurance exam is valid for ___ years?

If the policy is endorsed under MWP Act - then the beneficiaries are wife and ?

Mr. ABC cleared the IRDA exam on 2010 got license but he did not work , In which of the year again he will apply for insurance license?What is the Thresh hold limit of premium in cash insurance as per monetary policy?Who is regulatory body of money laundering in insurance sector?Which is the training institute for providing training to insurance agents?

Investment by foreign direct investors in to Insurance co's is restricted to

Karthik written to his insurer about non settlement of a maturity claim, as per regulations, the insurer has to reply to this within how many working days

Insurance companies are required to honor the awards passed by the Insurance Ombudsman

What is the limit of Ombudsman claim settlement?

___________ has laid down the Code of Conduct for all agents

Client rejecting after taking a policy in how many days.When the insured disagrees with any of the terms or conditions of the policy after the policy is issued, they have the option to return the policy stating the reasons for their objection. Within how many days they can return the poly?

Consumer can call Toll free No. for any Grievance or he can also contactWhat is the free look time available after receiving policy Documents?

Regulation issued by IRDA required that the decision on the proposal must be conveyed to the proposer withinWhom should customer contact in case of any dispute for a claim more than 20 lakhsComplaint council bodies other than IRDA grievance readdress forum & COPAWhat are the ways by which a policy holder can make complaints what is the maximum level of complaint that can be considered and taken action by ombudsmenWhat is the period of award passed to the customer decided by ombudsman?An Award is passed by Ombudsman .In how many days it should be honored by Insurance Co

If the complainant is disagreeing with the decision of the company on the claim then he can approach to ombudsman in

A policy has been rejected by the company under direct intimation to the customer and copy to the Agent, what is the next action of the Agent

An advisor while explaining the policy and to sell he accepts to give a part of his Agents commission, what is the limits

Raju is a certified license holder under what circumstances he needs to hold his certified license with him that is issued by IrDA

Answer choice 1 Answer choice 2

Banca assurance Health plans

High Net worth Individual Insurance Companies

Bancassurance Reinsurance

People with large families people with low income

In Family Protection Child education & marriage planning

To Cover Risks of Life To plan for Future goals2000 1999

Indirect Selling Awareness

an actuary loss adjuster

Administrative expenses in fixing the correct premium

smoking is peril and lung cancer is hazard

Financial Risk Non-financial Risk

Difference in age Difference in family health status

Speculative Risk Pure Risk

Financial. Fundamental.

Retention of risk Transfer of Risk

89,333 273,333

When risk commences When proposal form filled

At inception of the policy At the time of maturity proceeds

Policy is assigned Policy document is lost

10% to each nominee 25% to each nominee

IRDA is a Government body formulated for policing the activities of Insurance companies

Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous bodyin 1999 to regulate and develop the insurance industry

Insurance Regulatory and Development Authority (IRDA) . The IRDA was incorporated as an autonomousbody in April 1999

Insurance Regulatory and Development Authority (IRDA) was constituted in 1956

lung cancer is peril and smoking is a hazardSum Assured will be paid as total of all insurance plans

Sum Assured will be paid for only one plan with highest SA

Mr. X photograph Mr. Y photograph

It is assigned It is a money back policy

Premium Return Premium with Interest

Life Assured Nominee

30 15

Ration Card Baptism Certificate

After the U/W process Premium receiptedLife Insurance General InsurancePolicy bond Proposal form

Policy document Prospectus

Policy Document First Renewal Receipt

By Will By doing Assignment

Wagering Contract Legal Contract

No bonus accumulated Age proof was substantially wrong

Amit photograph Amit thump impression Only

Indexing contribution. Nomination facility.

Signature on the proposal Medical exams

Ramesh declares all his liabilities Ramesh is elder than Harish

one two

at the beginning of the contract through out the contract

operative clause Preamble

SA advisor induced

Policy Document proposal form

Absolute Term assignment

16 18

Contract is created only when the acceptance isunconditional.

Contract is created only when the acceptance isconditional.

SA Risk assessment

Attestation. Operative clause.

Issuing a new policy Endorsement

Valid Invalid

operative clause Preamble

Whole life Return of premium

Motor insurance Marine insurance

6months 12months20 times of Gross Annual income Liabilities

Term of A policy is higher than B policy

16 years 17 years

Throughout the policy contract before premium deposit

Proposal form Medical reports

2014 2012

A inception of the contract At claims

Fundamental risk Physical hazard

As per Human life Value 10L

Bank Fixed deposit rate discount rate

Married Wife Younger

AGE MEDICAL

1 year 10th year

Smoking invites extra premium Drinking invites extra premiumas long as the policy is inforce Till the next declaration of bonus

7680 8000

Term of B policy is higher than A policy

Moral Hazard Medical Hazard

No risk Low risk

Council of Actuaries Insurance council of India

HLV report Client confidentiality report

To calculate Premium

An economic asset Has a capacity to generate the income

Lien Bonus

Physical hazard Moral Hazard

Actuary Underwriters

7 days 10 days

Nil 0.1

25000 50000

Insurer's doctor Underwriter

Term Plan Endowment plan

Health Policies Term Policies

Term Insurance ULIP

50000 75000

5000 10000

In ULIPs riders can be attached

Convertible plan Term Insurance

Only ULIP Plans Only Endowment Policies

To Calculate the commission due for the agent

Policy start date to the 1st Anniversary Policy start date to the end of the 1st calendar year

In ULIPs death benefit will be the basic SA only

term plan health plan

Insurer Proposer

No Death Benefit Sum Assured will be paid

Married Wife Younger

Life Insurers only Non-Life Insurers only

to cover all members

Term insurance plan Money back

Insurance company Husband only

Pure Endowment Anticipated endowment

fund switching partial with drawl

Endowment Lien

Rahul His wife

Endowment Money back

home loan education needs

Same Age Employees

Outstanding premium Commission outstanding

Mode of the premium Inflation

Increase his liquidity Decrease his liquidity

ULIP NSC

Returns Taxation

8,000 16000

ULIP NSC

S. 80D S. 80C

10 Years 8 years

cover only particular members of the group

Debt Funds of MF NSC

Inflation Charges

Insurance Branch Post Office

5 year 4 year

20000 24000

Taxation frequency of payment

10- 20 gms 20- 50 gms

Marginally decrease Significantly increase

Increase gradually Decrease gradually

frequency of interest calculation Tax

Bank Post office

increase decrease

Less transparent More diversified

Raj is married and akshat is single

Life Insurance Health Insurance cover

Monthly Quarterly

One-tenth one-third

Commutation Option Differed Annuity Option

Denny only Denny and his wife

Reduced the base SA terminated

entire life term till 5 years and continue till annuitant lives

monthly,quarterly,half yearly, yearly fortnightly,quarterly,monthly,yearly

Raj is above 65 years and Akshat is below 65 years

Pre-existing illnesses Change in premium terms

By way of Cash Discount Discount in Renewal Premium

meet any medical emergencies

Immediate Annuity Deferred Annuity

the deferment period amount which required

Covers disease expenses Helps in Tax BenefitsFund value Paid premium

Term insurance plan Money back

Health Expenses Only Household expenses Only

0.06 0.085

1 Lac 2 Lac

annuity joint life policy

20% 30%

33.33%

Fully taxable 10%

save more tax switch the underlying fund

Less expensive Less Transparent

self employed Widower

Health Charges

Rs 1000 will be deducted

5 YRS 10 YRS

Family floater Health plan

ULIP ENDOWMENT

Childhood Young Married

Major hospitalisation and treatment expenses

Pension plan is not eligible for tax exemption

Amt will be deducted from taxable income upto 1 lakh

Term Insurance Medical Insurance

Protection plan child plan

Child plan convertible plan

Personal Details Family Details

income protection inheritance planning

Young married couple Young married with children.

self-protection. home loan protection.

surety keyman

Charges Interest

Ensure a sale is achieved Identify Client need

Young Person 30-40 years age group

A Plan based on needs to the Client

Married Married with children

Short term long term

Investment Health Insurance cover

Retirement health care

Illustration benefit Premium receipt

5% and 8% 5% and 10%

IRDA Life insurance council

Advisor need Product features

estate plan loan protection

Public sector employees do not get sick very often

public sector employees enjoy medical cover related to the Job

A plan based on paying capacity of the client

term plan endowment

From the fact details

Only Y has a Single premium Product

the commission is low the commission is high

Ask the customer to check it himself tell him what ever he thinks

Impact of charges on customer fund Higher commission to advisor

Not possible Alternate channel

Policyholder gets more benefits

More productivity Higher attrition

more lapsation more attrition

Word of mouth publicity for the agent Chances of up selling

Thirty Percent Twenty percent

disclose on demand Not disclose

Increase Decrease

switching Building long term relations

Avoid a customer complaint Minimize paper work

Surrender

5 7

No amount will be paid

Murder Deep Illness

Entitled for full claim Entitled for partial claim

Nature of payment Investment Frequency

ULIP Term

10 years 20 years

15 days 30 days

Ask the insurer to give a policy endorsement letter

Only X has bought other product from the agent

Agents earn Lower Commission on churning

Selling product as per need & policy servicing

Death Benefit will be the amount with highest SA policy

No claims payable All premiums paid

7.00% 8.50%

3 days 15 days

Premium Rate increase Loan facility

Life time annuity

6 years 7 years

Insurance Institute of India Insurance brokers association of India

1 3

IRDA RBIIRDA Insurance Act 1938

parents ex wife

20L 40L

2013 2014

10000 20000

SEBI RBI

Insurance Institute of India IRDA

16 15SEBI IRDA

sound mind & graduate sound mind & good income level

12% 25%

To regulate To advise Government

3 5

1998 1986

15 days 10 days

Lumsum sum assured plus accidental sum assured

partial or total repudiation of claims by the insurer

dispute with regard to premium paid or payable

30 15

Insurance Ombudsman

30 15

15 days 20 days

Forum at district level Forum at state level

Ombudsman Insurance Institute of India

email Toll free No.

20 lac 25 lac

2months 3 months

15 days 30 days

1 month 6 weeks

he plans to change the plan

10% 20%

when he sells term insurance

Insurance Institute of India

Consumer Affairs Department of the IRDA

insurance contracts of value not exceeding Rs. 20 lakhs


he has to inform the customer that the co has broken relationship with the

customer

when he represents himself as another insurer

Insurance Regulatory & Development Authority

Answer choice 3 Answer choice 4

Micro Insurance Term Insurance 3

Licensed Insurance Agents 2

Both a & b Neither a nor b 2

people with high income 2

Retirement planning All of the above 4

None of the above 2

None of the above 1

For Savings All of the above 42001 1998 2

Direct Selling Wrong Selling 3

risk manager underwriter 1

to remove adverse selection Non of the above 2

Both the statement is correct 1

No SA will be Paid. None of the above 1

Both are correct None of them 1

Difference in hobbies All of the above 4

Pure & Speculative risk Non Financial Risk 2

Homogenous. Speculative. 1

Avoidance of Risk Reduction of risk 2

289,333 219,333 2

When policy received When premium is paid 3

At time of claims At time of outset and claims 1

Policy is in lien Any one of the above 2

4

Correct Answer

No

Non Government Organization

people employed with the government

IRDA is an independent body constituted to address the grievances of the insurance policy holder

IRDA is an independent body constituted to address the grievances of the insurance policy holder

Both the statement is incorrect

Nominee one should not be paid more than nominee two

There is no specified limit like that

Mr. X thumb impression Mr. Y thumb impression 3

It is paid up Any one of the above 3

Premium less charges 4

Proposer Appointee 3

50 20 2

Elder Declaration Voter card 2

Policy is dispatched policy is received 2Both a & b Neither a nor b 2Premium Health report 2

Both are Correct Both are Incorrect 1

Proposal form All of the above 4

First Premium Receipt None of the above 3

Claim not possible to transfer 2

Void Contract All of the above 1

Policy has become paid up Its a ULIP Plan 3

4

Rider benefits. Savings element. 4

insurable interest when Nominee is Minor 4

4

three not specific 4

Revival stage both a & c 4

Information statement schedule 3

no commission Has Financial Problems 4

FPR RPR 2

Conditional Absolute & Conditional 4

20 21 2

Nothing as surrender is not allowed before 5 policy years

policy document need to be registered

Left thumb Impression of Amit along with a

declaration of his friend

Ramesh owes money form Harish

Harish suffers financial loss incase of death of

Ramesh

Identity verification Financial assessment 2

Preamble. Terms and conditions. 3

Corrections on the policy Not allowed 2

Void Illegal 2

Proviso Endorsement 1

Joint Life Policy Endowment policy 3

Liability insurance Travel insurance 2

2years 5years 3Assets Unlimited 4

2

18 years 21 years 3

1

Client confidential reports Medical referees report 1

2013 Anytime 4

at survival benefits Through out the term 1

Moral Hazard No Risk 3

50L 1 Crore 1

Estimated life expectancy 3

Health deterioration Dirrerence in caste 3

SA ALL THE ABOVE 4

15th year 20th year 4

None is correct Both are correct 4Till the next validation date none of the above 2

8320 8500 3

Policy A is assigned and B is not assigned

Policy B is assigned and A is not assigned

before receiving policy document

After receiving the policy document

Estimated amount at retirement

Occupational Hazard Physical Hazard 4

Medium risk High risk 4

Insurance institute of India IRDA 1

moral hazard report medical report 2

To verify the Plan proposed 4

Has a finite life span All of the above 4

Surrender Accidental death 1

financial risk Pure risk 2

Sales Officer Advisor 1

15 days 30 days 3

3

0.2 0.3 1

100000 150000 3

Agent Nominee 3

Convertible plan ULIP 2

Endowment Policies All of the above 3

Endowment Moneyback 1

62500 100000 3

50000 100000 3

both statements are correct Both statement are wrong 2

Endowment Plan ULIP Plan 3

only Term Plans 4

To help the underwriter to asses the Risk

Previous valuation date to claim date

claim date to next valuation date

Child insurance plans can be taken out in the form of endowment plans, money-back plans or ULIPs

endowment plan traditional plan 1

Proposer & Wife 4

Both are correct both are incorrect 1

Health deterioration Higher Age 4

non-life and life insurers None of them 1

have uniform coverage None of the above 1

pure endowment policy Whole life 3

Husband & wife 4

Term plan ULIP 3

premium holiday riders 1

Money back Surrender 3

children Both a & b 1

Term Insurance Child Investment policy 3

marriage of kids Retirement needs 1

Family Acc to height 2

Both of the above None of the above 1

Maturity Value Vesting Age 2

Create a future exit liability 1

Both with same benefit 1

Look-in Period Investment Frequency 1

24000 32000 4

ULIP & NSC None of them 3

S 80E S. 80F 1

6 years 5 years 4

Insurer and both the Life Insured

Insurance company, husband & wife

Reduce his encashabilty for next six months

None of them having any tax benefit

Corporate bonds Govt Bonds 1

Current Market Scenario All of the above 1

Internet Mutual Fund Office 2

3 Year 2 Year 1

28000 32000 4

interest rates tenure 3

50-100 gms 10 gms 3

less than after 15 years will remain same 2

Remain Constant 3

Interest tax Tenure 1

Insurance company Any one of the above 2

volatile same 2

Less return Steep rise 2

2

Retirement plan Child Investment policy 3

Half Yearly Yearly 2

one-fifth half 2

Guaranteed period option Open Market option 4

Denny, His wife and children 3

continues as it is 2

annuity only for 5 years None of the above 2

None of the above 1

Change as per market fluctuation

Raj is in the good health and akshat is in poor health

Raj is earning more and akshat is earning less

Denny, His wife and children and parents

will discontinue for 1 months

fortnightly, monthly ,half yearly, yearly

Nature of risk 1

Free Renewbality 4

All of the above 4

Anticipated Endowment ULIP 1

All of the above 4

covers hospitalization cost All of the above 4Paid premium with interest No maturity benefit 4

ULIP Plan Pension plan 4

Unspecified reason 3

0.045 0.1 3

3 Lac 4 Lac 4

pure endowment policy policy of another person 1

40% 50% 2

1 4

20% Tax fully exempted 4

improved annuity rate To continue life cover 3

More necessary Tax efficient 3

Savings are significantly higher Govt employee 1

Inflation Interest rates 3

10% of the amt will be deducted 1

7 YRS 3 YRS 1

Endowment plan Term Plan 1

POST OFFICE BANK 1

Pre Retirement Retirement 4

Cooling off period for insurersFree increase in Sum Assured

meet expenses post hospitalisation due to loss of income

investment tools used for investment

to pay the further premium of base plan

will depend on his income slab

20% of the amt will be deducted

Children's Policy Endowment Policy 1

2

Saving plan All of the above 4

pension plan ULIP Plan 1

Employment details All of the above 4

investment efficiency long term savings 1

Pre-retirement. Retirement 4

protection of Dependants. 1

partner Individual 4

Inflation Taxation 1

2

Married About to get retired 4

None of the Above 1

Married with older children Retirement 4

As per his goal both b & c 4

Life insurance cover No preference 3

child education life cover 3

Product Brochure Proposal Form 1

6% and 8% 6% and 10% 4

The Royal Bank SEBI 2

Client income Client expenditure 2

pension wealth creation 1

Self employed person fall sick quite often

Self employed person give more priorities to health

protection of children’s future.

Create an audit trail for future complaints

Provide regulatory body about agents data base

A Plan based on the clients dreams

annuity flexible plan 4

3

X is married and Y is Single Y is young 2

Customer asks for it customer not asks for it 3

Refer to the product brochure 3

Both a & b Neither a nor b 1

Mis-selling Higher charge products 2

3

Higher Profits Higher S.A 3

less lapsation No profits 3

All the above 4

Thirty Five Percent None of this 3

Should call up the Insurer Should avoid the topic 1

Will not affect Partially 2

Revisit the financial planning Churning 4

Service the customer 4

1

10 12 2

Sum of all SA in different policies Not more than 20lacs 3

Accident Suicide 4

Not entitled Return of Premium 1

Nature of Death Survival Benefits 1

Money Back Health 3

7 years 12 years 3

45 days 60 days 2

From signed copy of benefit illustration

From ticked columns of proposal form

must not shown any interest in the doubt

Policyholders suffer due to surrender charges and

benefits

Insurance companies get good branding

More reference generation for the agent

To earn extra commission

Selling products having higher Commission

Not keeping in touch with client

Sum assured 4

7.20% 8.20% 3

30 days 10 days 3

Mode of Payment Loading 2

Sum Assured 2

10 years 12 years 2

Life Insurance Council None of the above 4

5 7 2

SEBI Insurance ombudsmen 1LIC Act 1956 None of the Above 2

children mother 3

1Cr 10L 1

2015 2016 1

50000 100000 3

IRDA TRAI 3

RBI SEBI 1

18 17 3Insurance Association None of the above 2

Age and income level 1

40% 26% 4

3

7 10 4

1989 1990 1

20 days 3 days 1

delay in settlement of claims ALL THE ABOVE 4

Sum Assured less the undue premium

Lump Sum plus life time annuity

His contacts in the market to solicit Insurance

To undertake training activities

To Advertise globally on Indian Insurance

20 25 2

Insurance Company All of the above 4

20 45 2

1

1 month no time bar 1

National commission Ombudsman 2

Insurance Association FERA 1

Newspaper 4

30 lac 50 lac 1

5 months 6 months 2

60 days 90 days 1

12 weeks 2 months 1

3

He can offer up to 50% 3

when he sells pension policies under all circumstances 4

Indian penal code Reserve bank of India 2



Email or Toll free Number

He has to explain the reasons for rejection to the

customer

He takes up with the higher authorities

He cannot offer any commission